BlockBeats News, May 13th - According to official sources, DeFi protocol Avant has announced that the scheduled Token Generation Event (TGE) has been postponed to mid-September. Avant stated that after consulting with market participants, partners, and investors, the team believed that the current market conditions were not conducive to token issuance. The DeFi sector has been under continued pressure recently, with multiple protocols experiencing security incidents one after another, leading to a overall downturn in industry sentiment. Despite Avant experiencing growth in Total Value Locked (TVL) during this period and continuing to advance partnerships and product expansion, the team believes that launching the TGE after market recovery will result in a better outcome for users, investors, and the project itself.

Avant also emphasized that users who previously received points through Avant Rewards would not be affected. Point accumulation will cease on May 15th, and the rewards already received will be retained and can participate in airdrops during the future TGE. The team stated that they would continue to strengthen protocol development, advance partnerships, and product innovation in the coming months to enhance the project's long-term value. Additionally, Avant plans to hold a public Space this Thursday at 2 p.m. Eastern Time to directly engage with community members on project progress.