Avalanche Watch: May 2024

What’s New on Avalanche

Icebreaker Program will Bring 500K AVAX to Ecosystem - The Avalanche Foundation has introduced the Icebreaker Program to bolster the growth and stability of the Avalanche ecosystem by supporting new and existing projects, particularly through liquid staking tokens. The initial phase will distribute up to 500,000 AVAX to select projects, with ongoing assessments and future expansions planned to further enhance the ecosystem. Read more here

New Avalanche Community Proposal 77 may Change the Future of Avalanche - ACP 77 is a community proposal to change the Avalanche network's subnet creation and management processes to increase flexibility and reduce costs for validators. The key goals include removing the high AVAX deposit requirement for validators, and implementing a new fee mechanism on the P-Chain to ensure security and scalability. Read more here.

New Tool Emerges for Safe Community Coins - Ignite.meme is a new tool for community members to launch their own memecoins. Ignite endeavors to ensure the safety of all created tokens, preventing rug pulls by having coins launched on their platform be part of a fair launch with no presales and no team allocations. Visit the platform here

Tokenization Expands to Fine Wine on Avalanche - The Wine Capital Fund has partnered with Oasis Pro and Avalanche to tokenize fine wine, transforming it into a more accessible and investable asset class. This collaboration leverages Avalanche's blockchain technology to enhance transparency, accessibility, and potential liquidity for investors in the fine wine market. Read more here

In May Avalanche:

  • surpassed 20.5M Total Addresses,
  • 924m in total value locked,
  • had 1,820 validators, and 
  • 44 active subnets on Mainnet according to snowpeer.io.

The Past Month in Decentralized Finance (DeFi)

Stablejack Takes over Platypus - Stablejack, an Avalanche-native stablecoin, has acquired the platypus platform. Platypus was a single-sided automated market maker for pegged assets like stablecoins. Stablecoin’s acquisition of Platypus will allow Stablejack to swap their stablecoin, aUSD, with other supported stablecoins. 

Avalanche Sees Lower Month/Month trading volume in May - 

Total Value Locked Increases Slightly - Increased total value locked in May was led primarily by deposits into Aave, the popular borrowing and lending service, and BenQi, the leading liquid staking protocol on Avalanche by TVL.

The Past Month in Gaming (GameFi) 

New Gaming Network Coming to Avalanche - Gamestarter has partnered with Ava Labs to launch GameChain, a gaming-focused Layer 1 blockchain built on the Avalanche network. This new platform aims to simplify blockchain integration for game developers, enhance community engagement, and support a robust ecosystem with over 50 upcoming game projects. Read more here

DeFi Kingdoms Continues to Process High Volumes of Transactions - DFK Chain processes hundreds of thousands of transactions per day after the release of its new battle mechanics and new classes. 

The Past Month in Non-Fungible Tokens (NFTs)

Salvor Receives Avalanche Foundation Grant - Salvor, a peer-to-peer NFT and memecoin lending protocol on the Avalanche C-Chain, has received a $1M incentive grant from the Avalanche Rush Program. This grant will support Salvor in enhancing liquidity by allowing users to leverage NFTs and memecoins as collateral for AVAX loans, promoting a more accessible and flexible financial ecosystem.

Top NFT Collections - The total NFT sales volume in May was 207,466 AVAX, a 69.2% decrease from April. Top traded NFT collections are as follows: 

  1. Dokyo (91,800 AVAX) - Dokyo has remained the most traded profile picture NFT collection on Avalanche. Dokyo was the genesis collection for Avalanche’s most popular NFT platform Hyperspace. 
  1. Long Long (55,500 AVAX) - Based on mythical folk lore of the Chinese Culture, The Jade Emperor organized The Heavenly Gate Race where the first 12 animals that passes the gate will earn a spot as the Jade Emperor's guard. On top of that each year will be named after the winners in sequence. Of all creatures, the Dragon was expected to win the race due to its ability to fly. During the race however, the Dragon stopped multiple times to help villagers who were in need of help causing the Dragon to place 5th in The Heavenly Gate Race ranking.

  1. BabySkullz (6,200 AVAX) 500 BabySkullz were created through stochastic generation.
  1. Steady (2,900 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.
  1. Chikn (1,040 AVAX) - Chikn is an ecosystem for interactive, upgradable, and gamified NFTs. 

Project Spotlight - Frosty Metrics

Frosty Metrics rolled out a new feature called Chill Factor that measures a wallet's engagement score with the Avalanche ecosystem. The Chill Factor has already been used to distribute at least one ecosystem airdrop through Core App’s new airdrop tool:

Chill Factor considers three primary variables:

- engagement level as a factor of number of transactions, total gas paid, unique days of interaction

- breadth of user interaction that considers interactions with unique tokens, NFT collections, and contracts

- sustained engagement as measured by the number of consecutive months of activity

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Avalanche Watch: May 2024

Gaming

LiveDuel Brings Web3 Sports Betting to Avalanche

Gaming

Elixir Games Announces Acquisition of RoboKiden and Strategic Partnership with Ava Labs

NFT

Artist Spotlight: Ed Balloon Blending Web2 and Web3 at Avalanche Park

Gaming

Gamestarter introduces ‘GameChain’ powered by Avalanche

Institutions

Wine Capital Fund Leverages Oasis Pro and Avalanche to Make Fine Wine an Investable Asset Class

Community

Introducing Core’s Airdrop Tool: A Free Way to Distribute Tokens and Reward Your Community on Avalanche

NFT

Salvor Secures Avalanche Rush with a $1M Incentive Grant to Build Out Avalanche’s Prime NFT Lending Platform

Gaming

Avalanche & Funtico: Revolutionizing Gaming on the Blockchain

Avalanche Watch: April 2024

DEFI

The Avalanche Foundation Announces Memecoin Rush

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

Enterprise

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

Enterprise

Avalanche x Seedhe Maut: Revolutionizing the Fan Engagement Economy with Metasky

Enterprise

Really Launches Avalanche Subnet to Expand Reach of On-Chain Movies

Developers

Frosty: Bringing Strong Liveness Guarantees to the Snow Family of Consensus Protocols

Platform

BitNote Launches Encrypted Notes on Avalanche

Platform

Avalanche Integrates with Stripe for Crypto Onramping

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

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