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AVAX Ecosystem to Get $10M Boost from Avalanche Accelerator Colony Lab

Colony Lab, an Avalanche ecosystem developer and accelerator, said it will invest $10 million to support the long-term growth of the network. The company said it has bought more than 500,000 AVAX tokens, worth $8 million, in the past few months and these funds will be used to set up a validators program that benefits AVAX holders. A validator is a participant in a proof-of-stake (PoS) blockchain network that helps maintain security and confirms new transactions submitted to the blockchain. Validators do this by staking their tokens, typically earning rewards. Colony Lab will also invest in the Colony Avalanche Index (CAI), a yield-bearing token index in the Avalanche ecosystem.

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