Avalanche, the latest staking network to launch, already has more than $1 billion staked

Avalanche (AVAX) is the latest proof-of-stake (PoS) network to come to the marketplace, officially launching last Monday. Developed by AVA Labs, the team raised a total of $60 million across three separate sales. In its largest and final sale in July, AVA Labs raised $42 million from the public in just under 4.5 hours. 

The network has been able to attract prominent investors in the industry, including Andreessen Horowitz, Galaxy Digital, Bitmain, Initialized Capital, NGC Ventures, Dragonfly Capital, Polychain Capital and angels including Balaji Srinivasan and Naval Ravikant