아발란체 (AVAX) 토크노믹스

The Avalanche (AVAX) token is the native utility and security asset of the Avalanche network. Its economic model is designed to balance long-term sustainability, network security, and ecosystem growth through a capped supply and specific incentive structures.

Issuance Mechanism

Avalanche has a hard-capped maximum supply of 720 million AVAX. The issuance of new tokens is primarily driven by staking rewards, which are distributed to validators and delegators for securing the network.

• Initial Supply: 360 million AVAX were minted at genesis.
• Staking Rewards: The remaining 360 million AVAX (50% of the total supply) are allocated for distribution as staking rewards over a period planned to span at least ten years.
• Minting Rate: The rate of token emissions is subject to on-chain governance. Stakers are incentivized to lock their tokens for longer periods; staking for the maximum duration (one year) results in an additional 11.11% of tokens minted compared to the minimum duration (two weeks).
• Deflationary Pressure: Unlike many other smart contract platforms, Avalanche burns 100% of all transaction fees. This mechanism removes AVAX from the circulating supply, creating scarcity that benefits all token holders rather than just validators.

Allocation Mechanism

The initial distribution of AVAX was divided among several key stakeholders and ecosystem initiatives to ensure broad participation and development support.

Usage and Incentive Mechanism

The AVAX token serves four primary functions within the ecosystem:

1. Security (Staking): To participate in consensus, validators must self-stake a minimum of 2,000 AVAX. Users who do not meet this requirement can delegate a minimum of 25 AVAX to an existing validator.
2. Transaction Fees: All fees for transactions across the Primary Network (P-Chain, X-Chain, and C-Chain) are paid in AVAX and subsequently burned.
3. Governance: AVAX holders will eventually be able to vote on network parameters, such as emission rates, minimum staking amounts, and fee structures. Currently, only validators can submit proposals.
4. Ecosystem Incentives: The Avalanche Foundation has launched several programs to bootstrap liquidity and development:
   • Avalanche Rush: A $180 million liquidity mining program for DeFi applications.
   • Memecoin Rush: A $1 million program focused on community coins.
   • Retro9000: A $40 million retroactive funding program for developers building on the Avalanche9000 upgrade.

Locking and Vesting Mechanism

Most initial allocations were subject to specific vesting schedules to prevent immediate market saturation:

• Project Team: Four-year vesting period.
• Strategic Partners: Four-year vesting schedule.
• Avalanche Foundation: 10-year vesting schedule.
• Community & Dev Endowment: One-year vesting schedule.
• Public Sale (Option A1): One-year vesting with quarterly unlocks; 10% available at launch.
• Public Sale (Option A2): 18-month vesting with quarterly unlocks; 10% available at launch.
• Staking Lockup: The minimum time for staking is two weeks, and the maximum is one year. Tokens are locked for the duration of the staking period.

Unlocking Schedule

Future unlock events for Avalanche continue to release tokens into the circulating supply. Based on current projections, the network follows a consistent quarterly unlock pattern for its remaining vested allocations.