According to papers acquired by Crypto Briefing, Ava Labs created a litigation platform using Avalanche in partnership with Roche Freedman’s founding partner Kyle Roche.
Roche marketed the Ryval concept to customers in February 2022, offering an “Initial Litigation Offering” platform built in conjunction with Ava Labs, according to a presentation deck obtained by Crypto Briefing. Ryval was created to tokenize cases, enabling investors to acquire a share in a case’s result.
According to the presentation, the business sought a $6 million investment at a post-money value of $100 million and planned to collaborate with Ava Labs engineers until it could develop a complete workforce. In an email obtained by Crypto Briefing, Roche supplied the PowerPoint and separately sold the investor on Avalanche’s Subnet technology.
Prior to December 2020, Ava Labs promoted the “Initial Litigation Offering” idea on its Medium blog and Twitter account, stating that it was cooperating with Roche Freedman and Republic Advisory Services. It pointed readers to the Ryval website for further details.
Ava Labs and Roche have had a difficult few days. Crypto Leaks released a detailed exposé on August 26 saying that Ava Labs paid Freedman Roche a share in its firm and Avalanche’s AVAX token allocation in order to litigate its rivals and evade authorities.
Roche boasted in a series of undercover recordings about his strong relationships with Ava Labs and the cash he got for providing legal advice to the company. In one tape, he states, “They haven’t been sued yet, and there’s a reason for that.” “I am responsible for ensuring that the SEC and CFTC have alternative targets to pursue.”