The Avalanche Foundation announced via Twitter that it has reached an agreement to repurchase all AVAX tokens previously sold to the Luna Foundation Guard (LFG) before April 2022. The transaction is currently pending approval from the bankruptcy court. A total of 1.97 million AVAX tokens will be returned to the Avalanche Foundation for holding.

A significant development for the Avalanche ecosystem, the repurchase of 1.97 million AVAX tokens from the Luna Foundation Guard will likely have a positive impact on the token's price and liquidity. This move could also lead to increased confidence in the project's long-term viability and stability.