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AVAX From Block Zero to Mainline Launch: Six Years of Journey
On September 9, 2020, Avalanche (Avalanche Protocol) wrote a message in its blockchain "Block Zero":"From Snowflake to Avalanche. Per consensum ad astra.”(From snowflakes to avalanches, reach the stars through consensus). Twelve days later, its public main website was officially launched.
Avalanche officially launched its main network on September 21, 2020. Previously, Ava Labs, founded by Cornell University professor Emin Gün Sirer, raised $42 million through a public token sale. The name in the inscription is a tribute to the network consensus mechanism. The network is built around a series of consensus protocols collectively known as Snow, with Snowman being its linear chain variant. This Latin phrase roughly translates as "reaching the stars through consensus", an appropriate motto for projects aimed at challenging Ethereum's dominance in smart contract infrastructure.
AVAX Supply Status
Avalanche's supply limit of $AVAX tokens is 720 million. The supply of this token will not only increase, but will also decrease due to cost destruction. Transaction fees are permanently destroyed, removing the $AVAX paid from circulation. As of now, approximately 5.1 million tokens have been destroyed, mainly on C-Chain. The current total supply is approximately 463.44 million pieces, of which 431.77 million are in circulation with 182,130 holders.
However, destruction rates are facing structural resistance. The Etna upgrade reduced C-Chain's base rates by approximately 96%. As of the second quarter of 2026, median transaction fees fell 99.6% year-on-year to just US$0.00014. Although transaction fees paid in $AVAX are destroyed, the $AVAX demand generated by millions of additional transactions is relatively limited when the cost per transaction is only a fraction of a penny. At the same time, pledge rewards continue to create new $AVAX, which means that the network can become cheaper, faster, and busier without creating the scarcity investors expect.
In terms of activities, the network continues to grow. In the second quarter of 2026, Avalanche C-Chain processed a record 235.6 million transactions, with stablecoin transfers reaching US$84.4 billion, and total real-world assets in the ecosystem were approximately US$1.65 billion.
Six years later, the network that began with block-zero information is bigger than ever, although its economic model of native tokens is still a hot topic.
