Press release
Lava Network Utility Token $LAVA Lists on Bybit, KuCoin, Gate Exchanges
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Georgetown, Cayman Islands /Lava Network/ – Lava Network, a protocol coordinating dapp and AI agent traffic on any blockchain, is announcing the listing of its $LAVA utility token on ByBit, KuCoin, Gate, and MEXC with trading beginning today, Thursday, January 9, 2025, at 10:00 AM UTC.
Lava is a novel protocol providing users with a fast and reliable experience interacting with blockchain apps. At the heart of the system is the LAVA ($LAVA) token, which routes user traffic, such as DeFi transactions and data queries, between wallets, data providers, and blockchains. LAVA holders are integral to the network, staking their tokens to direct traffic to the fastest and most reliable providers. This drives superior performance and scalability across 40+ chains, with Lava processing over 100 billion transaction requests to date, making LAVA an essential tool for maintaining a high-performing network with minimal downtime.
Key integrations with Lava Network include leading dApps and enterprises such as Keplr, Paraswap, Axelar, and Hypernative, all of which depend on LAVA to keep their user traffic flowing smoothly and efficiently.
Strong Fundamentals Behind $LAVA
Lava’s rapid growth is backed by its robust fundamentals. Since its Mainnet pre-launch in late July 2024, the network has secured over $3.5 million in ARR and $1m+ in onchain revenue. Its tokenomics model fosters long-term value: LAVA’s supply is capped at 1 billion tokens, with no inflationary mechanisms. All investor and team allocations are locked until 2026. LAVA’s tokenomics include a monthly burn mechanism that dynamically adjusts to attract more data providers to the network, with 1.5% of the total token supply burned so far.
Lava also offers a first-of-its-kind revenue-sharing model where contributors can potentially earn rewards directly in the native tokens of supported blockchains. Over $1 million is currently being distributed in native tokens such as AXL, NEAR, and USDC, to LAVA stakers and data providers for securing and optimizing the protocol. Staking rewards can be explored here, offering users a direct incentive to participate in the network’s growth.
Amir Aaronson, Head of the Lava Foundation, said:
“Blockchains are digital cities with their own economies. As humans and AI agents increasingly move onchain, they need reliable roads to carry their transactions and data. $LAVA powers these roads, ensuring the free flow of digital commerce. Owning a piece of the Lava Network is like owning a share in the infrastructure that keeps these cities running.”
Magma Devs, a contributor to Lava, raised $15M from prominent investors such as Hashkey, Tribe, and Jump, while Lava Foundation secured over $11M in a private token round from leading founders and community members from Cosmos, Polkadot, Filecoin, and NEAR. Lava is positioned as the protocol managing traffic from AI agents and dapps on every blockchain.
For more information, users can visit the website.
About Lava Network
Lava Network enables 24/7 access to blockchain apps, with minimal downtime.
Lava is a protocol which coordinates traffic from AI agents, apps and wallets on every blockchain. Lava aggregates RPC providers and directs the flow of transactions and data queries such as your wallet balance, based on the speed and reliability of the provider. The protocol has secured $3.5m+ in revenue, with chains and apps like NEAR, Starknet, Filecoin, and Axelar already paying LAVA stakers and providers $1m+ to offer ultra-reliable service.
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