The AVAX ecosystem accelerator Colony Lab will invest 10 million dollars to support the development of the ecosystem

ChainCatcher news, the Avalanche ecosystem and accelerator Colony Lab announced an investment of $10 million to support the long-term development of the AVAX ecosystem. The company stated that it has purchased over 500,000 AVAX tokens worth $8 million in the past few months, and these funds will be used to establish a validator program that benefits AVAX holders.

In addition, Colony Lab will also invest in the Colony Avalanche Index (CAI), which is reportedly a yield token index within the Avalanche ecosystem that includes assets such as AVAX and Trader Joe's JOE. The fees for minting or redeeming will be allocated to the stakers of Colony Lab's CLY tokens.