Avalanche ecosystem developer and accelerator Colony Lab has announced its intention to invest $10 million to support the long-term growth of the network.

- Over the past few months, the company has purchased over 500,000 AVAX tokens worth $8 million, which will be used to create a validator program for the benefit of AVAX holders.

- Colony Lab is also investing in the Colony Avalanche Index (CAI), an index of yield tokens in the Avalanche ecosystem, including assets such as AVAX and Trader Joe's JOE.

- Rewards from current and future validator programs will be distributed to the CLY token holder community.