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Aventus Network has officially launched its native utility token AVT on Bittrex Global. A layer-2 blockchain protocol, Aventus Network is focused on bringing scalability, lowering costs, and speeding up Ethereum transactions.
The network can theoretically scale to 2,000 transactions per second, which is 133 times more than Ethereum, and will process a token transfer within 0.12 seconds. It is also onboarding more than 18 million transactions from clients active on private test networks over the last year, and all current and future transactions will flow through the main net. The potential use cases of the Aventus Network are wide ranging and can impact everything from NFTs, to supply chain coordinators, to customer reward schemes and efficient blockchain solutions.
The AVT Token
The AVT token holds up the Aventus Network by powering transactions, supporting validator activity, and proofing governance. Over 9 million transactions have been processed on the network since the launch of the mainnet, and each one yields rewards in AVT for all stakers.
Alan Vey is CEO of Aventus Network.
“Listing on Bittrex Global is a pivotal moment for the Aventus Network. Equipped with Bittrex Global’s unparalleled global reach, AVT tokens, with the numerous utilities they bring to holders and businesses, will now be available to a wider pool of people than ever before,” Vey said.
“While the blockchain industry continues to expand, enjoying evermore widespread adoption, Aventus continues to stay ahead of the curve, with regular new features and functionalities for businesses and token holders,” Vey continued. “We are now on the verge of entering the next phase of Aventus’ journey, expanding the scope of our blockchain exponentially in the coming months. Our listing with Bittrex Global signals the end of a successful year for Aventus and its token holders, representing a vote of confidence in the network and its ambitions while laying the foundations for the next period of rapid growth and development.”
Empowering the Community
The transaction fees for AVT holders come in at approximately $0.01, and holders can also stake their AVT to earn rewards. Following the rollout of phase 3, AVT holders’ votes will carry weight equivalent to the amount of AVT they hold. According to the Aventus Network, this method and approach is meant to empower community decision-making and improve the entire ecosystem.
AVT has a total fixed, circulating supply of 10,000,000 AVT.
Stephen Stonberg is CEO at Bittrex Global.
“We are pleased to welcome the Aventus Network onto the Bittrex Global Exchange,” Stonberg said. “The network’s rapid growth is a clear sign of its demand and we are happy to provide crypto enthusiasts with the ability to purchase AVT in a fast, secure, and simple way.”