Avalon Labs announced its entry into the IoTeX ecosystem to expand DePIN asset lending services.

BlockBeats News, on October 17th, according to official sources, BTC ecological lending protocol Avalon Labs announced today that it will be officially deployed on the DePIN modular platform IoTeX to expand its support for DePIN assets. The current TVL within the Avalon protocol has exceeded $700 million. The integration with IoTeX will help Avalon explore more possibilities in the DePIN field and bring a large amount of BTC assets into the IoTeX ecosystem. Financial service support for DePIN assets is one of the key focuses of IoTeX, and this cooperation with Avalon Labs will provide better lending services for on-chain assets on IoTeX, expand more practical paths for project assets, and bring more liquidity to IoTeX on-chain. Avalon Labs has previously received investments from institutions such as SNZ Capital and Matrixport, and is one of the largest lending protocols in the BTC ecosystem. Since IoTeX announced its 2.0 DePIN modular strategy in July, its influence in the DePIN field has continued to grow. The DePIN Summit hosted by IoTeX during Singapore 2049 attracted over 5,000 participants, gathering almost all investment institutions and more than ten innovative DePIN projects that follow DePIN.