Avalanche Watch: January 2024

What’s New on Avalanche

Vryx Developing on the HyperSDK - Some blockchain builders are increasing throughput via decoupled state machine replication. Traditionally, block building, replication, and verification occur in synchronous order. Decoupled state machine replication allows for parts of these processes to run asynchronously and in parallel. Vryx is the implementation of a decoupled state replication machine for the HyperSDK, a toolkit created by Ava Labs for building customized high-throughput virtual machines. Learn more here

Teleporter Course Release on Avalanche Academy - Ava Labs released a new course on Teleporter, a cross-subnet communication protocol that is set to dramatically impact the value proposition of Avalanche. If you are interested in development on Avalanche, learn more here

Onigiri Subnet - The ONIGIRI Chain is a specialized public blockchain for food and healthcare. The project aims to revolutionize value creation by securely collecting and preserving data for use across finance, insurance, and healthcare. It also aims to introduce market-based pricing for food-related data with $ONGR. Furthermore, ONIGIRI Chain addresses the challenges of data duplication and loss in traditional systems by leveraging blockchain technology for decentralized data management. Read more here.

The Past Month in Decentralized Finance (DeFi)

Struct Finance Balloons in Total Value Locked - The Avalanche Foundation recently announced Struct Finance as a recipient of up to $1m USD in Avalanche Rush Incentives. Since the announcement, Struct Finance has seen a surge in total value locked, securing almost $4m USD in TVL. Struct Finance is a decentralized platform that offers structured financial products, similar to products found in traditional finance like asset-backed securities.

Thorchain Showing Strong Avalanche Growth  - Thorchain is a protocol with  > $283m USD in total value locked across 9 different blockchains. Thorchain facilitates native coin trading among these blockchains, including BTC, the most liquid crypto asset, and AVAX. Since the beginning of October, the amount of AVAX locked in Thorchain contracts has risen dramatically (+814%), increasing both the liquidity and utility of BTC and AVAX.

Volumes Across Major DEXs Remain Relatively Flat - Trader Joe maintains its position as the DEX of choice according to total volume, despite a slip in trade volumes.

TVL Leaders Remain Unchanged - BenQi sees a minor retraction in TVL, though levels remain relatively unchanged throughout the ecosystem.  

Find more DeFi insights here

The Past Month in Gaming (GameFi) 

TSM Blitz Subnet Now Live - Popular eSports team TSM just launched their new subnet that will be incorporated in hosting gaming tournaments. Read the announcement here

Tiltyard Launches First Playtest of Midnight Heist - Tiltyard, a new platform for online competitive gaming, just released a public test of their first game, Midnight Heist. Midnight Heist is a player vs. player strategy game that combines aspects of poker and role-playing games. 

Top Games by Unique Users Remain Largely Unchanged

Find more gaming insights here

The Past Month in Non-Fungible Tokens (NFTs)

Successful NFT Mints in January and Increased NFT trading - January saw a considerable increase in Avalanche NFT volume sales. Overall NFT trading volumes are ~460% from the previous month. This increase in volume was in large part due to incentives on the Hyperspace NFT marketplace. Furthermore, Steady and Dokkaebi are two new NFT collections that saw considerable trading volumes in January. 

  1. Dokyo (1,530,385 AVAX) - Dokyo has remained the most traded NFT collection on Avalanche, and continually reappears as the top traded NFT collection across all blockchains. 
  1. Steady (150,226 AVAX) - Steady is a 2,500 piece PFP collection that prioritizes instilling a strong, fun, and original human element into digital identities. Steady launched in January and quickly sold out. 
  1. Dokkaebi (56,320 AVAX) - Dokkaebi is a 3,333 piece PFP collection that highlights Korean culture through goblin-like depictions. Dokkaebi’s mint also sold out in January. 
  1. Mambonauts (47,377 AVAX) - Mambonauts are the space-bound entry to the MamboMakers ecosystem. Holding one will give you access to whitelists and free mints (both from the MamboMakers team as well as collaborations) and giveaways. 
  1. CoqVsHunter (20,957 AVAX) - CoqVsHunter NFTs play an important role in the Game-Fi experience “Coq vs. Hunter.” This collection is built on top of the $COQ ecosystem by the @CoqInuMiner team.

Find more NFT insights here.

Project Spotlight

ggAVAX holders now will receive MEV returns - GoGoPool’s ggAVAX token holders will now receive yield from Maximal Extracted Value (MEV)

MEV is usually value captured by wealthy centralized entities that profit from manipulation of transaction ordering. Perhaps the most well-known form of MEV is the sandwich attack, where the MEV extractor sees a large order and places a transaction before and after the large order. The first transaction pushes the price higher for the large order, the large order buys less than intended, then the succeeding order places a sell order (now at a higher price), where the MEV extractor pockets profit. By distributing the rewards from MEV (which occurs on all public blockchains) to their token holders, GoGoPool hopes to democratize MEV rewards through organic market behavior.

GoGoPool is one of the fastest-growing liquid staking protocols on Avalanche. GoGoPool allows users to help secure the Avalanche network, participate in DeFi, and earn yield by holding the ggAVAX token.

Avalanche is an open, programmable smart contracts platform for decentralized applications. Avalanche has one of the fastest time-to-finality of any blockchain platform and is decentralized, interoperable between other app-chains within the Avalanche ecosystem, customizable, and inexpensive to use. 

Also check out Frosty Metrics for free data and follow @frostymetrics on X for the latest data-driven Avalanche insights!

SHARE //
NEXT UP//
Enterprise

stc Bahrain and Avalanche forge partnership to drive Web3 progress in the Middle East

Institutions

Homium Issues First Home Equity Loans on Avalanche

Enterprise

Feature.io Uses Avalanche-Powered API to Bring Web3 to Any Streaming Platform or Media File

Avalanche Watch: March 2024

Platform

The Avalanche Foundation Unveils the Icebreaker Program

Community

The Avalanche Foundation Launches Ambassador DAO to Usher in the Next Wave of Users

The Avalanche Foundation Announces a New Board

Community

The Avalanche Foundation Discloses Community Coin Holdings

DEFI

The Avalanche Foundation Announces Memecoin Rush

Platform

Avalanche Foundation Launches Community Grants Program with Gitcoin

Institutions

Clearpool Expands to Avalanche with Exclusive Launch of Credit Vaults

Enterprise

Coachella to Gamify the Festival Experience and Distribute New Rewards Using Avalanche

Developers

Startup Incubator Codebase Names First Cohort

Institutions

Diamond Standard Leverages Oasis Pro and Avalanche to Make Diamonds an Investable Asset Class

Institutions

Tokenization 101: The Tokenized Collateral Ecosystem

Enterprise

Avalanche Powers Web3-Enabled Voucher Program on Alipay+ D-store

Institutions

Avalanche and Chainlink Leveraged in Tokenized Asset Settlement Project

Developers

The Graph Expands Data Tools for Avalanche Developers

Community

Avalanche Foundation: Eligibility Criteria Framework for Community Coins

Platform

Avalanche Watch: February 2024

NFT

Best Dish Ever Launches NFTs on Avalanche, Pioneering the Future of Culinary Exploration

Gaming

Legendary MMORPG MapleStory Comes to Avalanche

Platform

Teleporter Makes Avalanche a Fully Interoperable L0 Network

Enterprise

Loyalty+ to Receive Multiverse Incentives to Spur AI-Enhanced Loyalty Programs

DEFI

SteakHut V2 Introduces New Liquidity Features on Avalanche

Enterprise

Avalanche to Power SI Tickets’ NFT Platform, Box Office

NFT

Looty and Inspect Launch Loyalty Platform with Loot Crate Rewards, Boosting Avalanche NFT Season

Platform

Durango: Avalanche Warp Messaging Comes to the EVM

Community

Avalanche DeFi Saga with Rep3

Institutions

Citi Tests Benefits of Private Markets Tokenization With Avalanche Evergreen Subnet ‘Spruce’

Enterprise

Avalanche Named Exclusive Sponsor of Collider on the Lot Startup Accelerator

Platform

Cortina: X-Chain Linearization

Avalanche Watch: January 2024

Gaming

Owned Blends SocialFi and Gaming on Avalanche with Battle Tech

Enterprise

The Empire State Building Launches NFT Loyalty Program on Avalanche Using Uptop

Institutions

Intain Launches Avalanche Subnet to Usher in New Era for Multi-Trillion Dollar Securitized Finance Market

Institutions

How Avalanche Uses Account Abstraction to Improve the Web3 Experience for Institutions

Institutions

Institutional Products, Pilots Signal Growing Interest in Tokenization

Enterprise

Edgevana to Provide Infrastructure to Avalanche Network, Expanding Validator Decentralization

Institutions

South Korean Digital Asset Custodian BDACS to Support Avalanche

DEFI

Struct Finance Joins Avalanche Rush with an Incentive Program of up to $1M

DEFI

Fonbnk Builds Avalanche On-Ramp for Cross-Border Payments in Emerging Markets

Platform

Avalanche Wallet Phase-Out Guide

Platform

Avalanche Watch: December Edition

Institutions

What is Asset Tokenization: Why & Why Now?

DEFI

Sub-Saharan Africa: A Land Of DeFi Opportunity

NFT

NFT-TiX Migrates to Avalanche and Announces Global Festival Partnerships

Enterprise

AR Platform Really to Upgrade Entertainment Using Avalanche

Gaming

Tiltyard Gives Web3 Games Tournaments and Fantasy Sports Features

DEFI

Hubble Exchange Launches Order Book DEX Built on a Custom Avalanche Subnet

Platform

Avalanche Watch: November Edition

Developers

NodeKit Raises a $1.2M Pre-Seed Round to Build a Shared Sequencer L1 with HyperSDK

Gaming

Mirai Labs Blends SocialFi and Web3 Gaming, Migrates to an Avalanche Subnet

Institutions

Republic Selects Avalanche for its Profit-Sharing Note, Gains Vista Support

Platform

Avalanche Watch: October Edition

Institutions

Avalanche Supports Citi FX Solution Under Project Guardian

Institutions

Onyx by J.P. Morgan Leverages Avalanche To Explore a New Paradigm for Portfolio Management

Platform

Avalanche Foundation Mission Statement and Reminder About System Unlocks

Developers

Web2 and Web3 Leaders Launch Codebase by Avalanche, an Accelerator Supporting Early-Stage Avalanche Projects

DEFI

Avalanche Expands Forex Market in Africa With Canza Finance’s Baki Launch

Platform

Avalanche Powers Metaverse Experience at Hong Kong FinTech Week

Gaming

5 Great Web3 Games Coming Soon

Institutions

Beneath the Surface: The Infrastructure Driving Tokenization Forward

Developers

Avalanche is Advancing Off-Chain Computation Services for Developers

Enterprise

Neal Stephenson’s LAMINA1 to Reimagine the Open Metaverse with New Layer 1 Built on Avalanche

Ava Labs Accelerates Push in India with Key Senior Hires

Platform

CCRI Finds Avalanche Emits 12x Less CO2 Than Ethereum, 300,000x Less CO2 Than Bitcoin

DEFI

The Tangible Benefits of Bringing Non-USD Stablecoins and FX On-Chain

Institutions

On-Chain Cash Management: Thematic Takeaways From Partner Discussions

Platform

7 Avalanche Use Cases

NFT

Builder Spotlight: Zeroone is Rethinking How NFT Enjoyers Create and Collect

Institutions

Navigating Tokenized Asset Investments for Institutional Buyers

NFT

Blockticity Mints $275M in Hemp and Other Product Certifications on Avalanche, Disrupting a $4.5T Industry

Developers

Introducing Firewood: A Next-Generation Database Built for High-Throughput Blockchains

Community

Builder Spotlight: Steven Gates Wants to Bring Subnets to the World

Community

Avalanche Foundation Launches Ted Yin Grant Program to Expand Open Source Technology Development

Enterprise

Korean Entertainment Giant Powers Ticketing Platform with Avalanche

Developers

Developer Spotlight: NodeKit’s Cofounder on Why Avalanche is “Unrivaled”

Platform

New Avalanche C-Chain Explorer Launches

Developers

Time to Finality (TTF): The Ultimate Metric for Blockchain Speed

Platform

Avalanche Watch: August Edition

Developers

Movement Labs Raises Pre-Seed Round, Launches Movement SDK To Reignite Web3’s Interoperable Future

Gaming

Builder Spotlight: Kam Punia’s Quest to Level Up Web3 RPGs

DEFI

Multiswap Launches with Plan to Unlock Swaps of 300+ Assets in a Single Transaction on Avalanche

Gaming

Korean Game Publisher Neowiz and Ava Labs Form Partnership

NFT

NFT Marketplace Hyperspace Makes EVM Debut on Avalanche

Enterprise

PlayThink and Loyalty Marketing Announce Plans for Web3 Ecosystem for 100M Japanese Users on Avalanche

NFT

Artist Spotlight: Three Creators Drawing the NFT Future

NFT

Artist Spotlight: Creators Expanding NFT Possibilities

DEFI

Dexalot Subnet Earns Avalanche Multiverse Incentives of up to $3 Million

Developers

Elastic Era: Considerations for Subnet Builders

Developers

Sigma Prime to Expand Security Tooling for Avalanche

Platform

Avalanche Watch: July Edition

Platform

Builder Spotlight: Blockpay Aims to Bring Blockchain Payments to the Masses

Platform

Avalanche Watch: April Edition

Core Mobile Now Supports iOS Devices

NFT

Momentum Accelerates in Avalanche NFTs

Platform

Ava Labs Announces AvaCloud: Empowering Businesses to Launch Custom, Fully Managed Blockchains in Minutes

Developers

Bware Labs’ Blast API uses Avalanche Network to Deploy Their Staking Protocol

Gaming

Avalanche Arcad3 Powers Up Web2 Gaming Studios, Arming Them to Thrive in Web3