Avalanche Foundation’s Board of Directors proactively developed a concise mission statement for the organization. It entails the development of a sustainable ecosystem in relation to the Avalanche public blockchain. This will contribute to accelerating innovative endeavors, in conjunction with constitutive and associative functions and extensive research that results in digitizing all global assets. In pursuit of this objective, the Avalanche Foundation will actively participate in planning, implementing, and administrating the Avalanche public network. Additionally, it will provide financial benefits to the Avalanche community.
The focus will be on the creation and execution of various software, like smart contracts, dApps, and subnets, along with APIs, utilities, and upgrades. Added to that will be the linking with other blockchains and wallet software. Included will be the staking of tokens, operating nodes, and authenticators. The creation of written, video, and content for websites and multiple social media sites will also be looked into. There will be additional resources provided to the Avalanche community.
The Avalanche Foundation is basically a non-profit entity. However, there may be revenue generation in some instances. In turn, the Avalanche community will utilize these for making payments to service providers and other related expenses.
During the Avalanche mainnet delivery in September 2020, the Foundation and all stakeholders were all for a programmatic unlock schedule in terms of the tokens they obtained in the genesis vertex. Unlocking schedules is common in most projects with tokens. Avalanche divulged it with the view that everyone involved would know the unlocking occasions.
It is well known that the Avalanche Foundation stakes 90% of its AVAX, both locked and unlocked, in order to secure the network. It has a propensity for extended durations. The Avalanche Foundation establishes itself as a highly efficient authenticator by staking both unlocked and locked tokens. This demonstrates the Foundation’s strong commitment to the community and network.
According to the set programmatic unlock schedule, the mechanism unlocks almost 9.5 million Avalanche Foundation AVAX over a period of three months. In August 2024, the figure will decline to 1.7 million AVAX. In the case of rewards offered by the Avalanche Foundation, almost all of them are staked.
Avalanche is a smart contract platform that upgrades endlessly and finalizes transactions periodically in the blink of an eye. Its signature consensus protocol, Subnet framework, and HyperSDK toolkit allow Web3 developers to deliver custom-built blockchain services.