The Avalanche blockchain combines speed, science and sustainability. Known for their blazing-fast transaction speeds and unique networking stack, the project attracted top projects and talent at the recent Avalanche Summit, 2022.
Featuring a wealth of presentations and panels from the most innovative projects building on the network, as well as the project’s sponsorship in the realm of Formula E, the week-long event offered a glimpse into the world of all things Avalanche.
According to an interview given by Emin Gün Sirer during the Summit, Avalanche is experiencing hockey-stick growth in many areas. Some of the key metrics include:
2,000,000 current Avalanche users
120,000 Avalanche daily users
$10B value locked in Avalanche DeFi
We also saw two important announcements at the Summit, including:
The new ‘Core’ wallet
This new ‘Core’ wallet for the Avalanche blockchain is a multi-chain wallet with Ledger support. It works on mobile and as a browser extension.
A Bitcoin bridge
The Avalanche Bridge will allow Bitcoin users to bridge to Avalanche. This will allow DeFi participation for BTC holders, in a secure and innovative way.
Top Projects at Avalanche Summit
During the event, Team Blockdaemon saw some of the best and brightest projects on Avalanche. Here’s a small sample of who is building on Avalanche.
DeFi on Avalanche is thriving. Of particular note were the high-quality decentralized exchanges (DEXs) being built on the network. Some notable projects in attendance included:
Trader Joe: Trader Joe is the top DEX on Avalanche. Key Trader Joe team members were in attendance, including DaviDeFi and Blue Clarity, discussing the latest development on the Trader Joe platform, Rocket Joe. This is an automated and truly decentralized way to raise liquidity for your protocol and launch a token into the Avalanche ecosystem.
Pangolin: A community-driven decentralized exchange for Avalanche and Ethereum assets with fast settlement, low transaction fees, and a democratic distribution–powered by Avalanche.
Pangolin CEO Justin Trollip hosted a workshop to talk about the architecture required to launch a GameFi project on a subnet and some of the considerations you need to think about to scale the next billion dollar game.
Dexalot: A revolutionary decentralized exchange aiming at bringing the traditional centralized exchange look and feel through a decentralized on-chain application. The project’s CEO and CTO hosted a talk on the topic of algorithmic options available for a pricing auction.
We also saw some interesting other DeFi projects, including elk.finance, offering innovative cross-chain token swaps across a wealth of protocols.
Avalanche boasts a wealth of blockchain gaming projects, all highlighted at the Summit. This was highlighted by the many gaming projects in attendance, from Bloodloop, Crabada to DeFi Kingdoms and beyond.
DeFi Kingdoms announced new features and expansion at the event, as well as a partnership with Pangolin for a Decentralized Exchange service on Crystalvale. This is part of Pangolin’s innovative DEX-as-a-service offering, allowing any project to access the liquidity and functionality that Pangolin has to offer.
Avalanche’s high-quality gaming ecosystem drives use, utility and adoption amongst blockchain gaming fans.
Blockdaemon’s Role in Avalanche’s Network
Blockdaemon is a proud supporter of the Avalanche network.
Our high quality Avalanche nodes provide the chain access and staking support that help our customers earn yield, while contributing to the health, decentralization and security of the network.
If you’d like to learn more about how Blockdaemon can help you participate in the AVAX ecosystem, get in touch today!