Avalon Labs announced that it has completed a total of $1.88 million in AVL token buybacks and destructions. Since June, Avalon Labs has successively deposited 1.88 million USDT into Bybit and initiated buyback operations, accumulating a buyback of 13,955,164 AVL tokens at an average price of about $0.1347. After the buyback was completed, Avalon Labs has destroyed all the aforementioned tokens. The officials stated that the funds for this buyback all came from the protocol's monthly revenue. Combined with the 80 million AVL tokens that were destroyed in June this year, the total number of tokens destroyed by Avalon Labs recently has accounted for 37% of the total circulating supply.