AVA Labs is planning to distribute 2 million tokens in its final testnet before the project’s full launch in summer. “Denali Testnet” will serve as the final stage of the AVA network testing before AVA’s mainnet launch.
On May 29 AVA Labs announced that the new testnet will allow each validator to earn up to 2,000 AVA network’s native tokens.
AVALIDATORS ASSEMBLE! The Denali Incentivized Testnet is here 🙂 Check out the challenges + rewards. You will need to be a bit more hands-on but if you manage to stay alive, it'll be worth it! https://t.co/tiHRRXP4h3 — AVA Labs (@avalabsofficial) May 29, 2020
AVA Labs tokens are not yet listed on any cryptocurrency exchange and not available for public purchase. Testnet registration starts immediately on May 29 while the first phase of the testnet launch will start on June 1.
An AVA Labs representative explains that participants are expected to set up live nodes. The Denali testnet consists of three core challenges, which run until June 15.
While AVA Labs expects to move to its mainnet in summer 2020, there is no specific date for the full launch of the project.
AVA Labs is an open-source platform and a layer 1 protocol for launching DeFi applications and enterprise blockchain solutions.
The platform is designed to unify DeFi applications and blockchain deployments in one scalable and interoperable ecosystem.
AVA co-founder, Kevin Sekniqi believes that the best way to describe the new protocol as the:
“Internet of blockchains”