Welcome to the summation of The Avalanche Snow Report, a monthly insider’s peek into the bustling world of Avalanche. From groundbreaking network highlights to the latest in DeFi, Gaming, NFTs & Culture, and Infrastructure & Enablement, we’ve curated the most exciting developments for you.
NETWORK HIGHLIGHTS:
Avalanche Vryx: Processing 5 Billion Micropayments at Lightning Speed The first Vryx devnet recently shattered records by processing a staggering 5 billion micropayments at a blistering pace of 100,000 transactions per second (TPS). This monumental achievement showcased Avalanche’s prowess in handling high throughput transactions and reaffirmed its status as a leading blockchain platform.
Codebase’s Inaugural Cohort: Pioneering the Future of Web3 Startups Codebase by Avalanche, a premier accelerator program for early-stage Web3 startups, announced its first cohort after a rigorous selection process. With nearly 250 applications from over 30 countries, Codebase has set the stage for a groundbreaking Demo Day scheduled for May 30th, coinciding with the Consensus Conference in Austin.
DEFI:
Quadratic Funding Galore: Empowering Avalanche Community, Grants The Avalanche Community Grants Program is in full swing, with the first Quadratic Funding Round underway. This innovative initiative allows anyone to contribute to selected projects, with matching funds from the Avalanche Foundation. The result? A vibrant ecosystem fueled by community-driven innovation and collaboration.
Stripe Integration: Simplifying Crypto Onramping for Retail Users Avalanche’s integration with Stripe, a leading financial infrastructure platform, has revolutionized the crypto onramping experience for retail users. With a fiat-to-crypto widget embedded into Avalanche dApps, users can seamlessly purchase AVAX directly through Stripe, eliminating the need for traditional exchanges and streamlining the user experience.
ENTERPRISE & INSTITUTIONS:
Homium Redefines Home Equity Loans on Avalanche Homium, Inc., a pioneering home equity mortgage lender, has unveiled its tokenized home equity loans on Avalanche. By leveraging blockchain technology, Homium offers homeowners a novel way to tap into their home equity without increasing their monthly debt burden. This landmark launch marks a significant milestone in the asset tokenization space within the Avalanche ecosystem.
stc Bahrain’s Subnet Deployment: Accelerating Web3 Adoption in MENA stc Bahrain, a subsidiary of stc Group, is spearheading Web3 adoption in the Middle East by deploying its own Avalanche Subnet. As an official ambassador in the region, stc Bahrain aims to foster innovation and community engagement through a series of co-marketing initiatives, hackathons, and conferences. This strategic move underscores Avalanche’s growing influence in the global blockchain landscape.
GAMING:
Coachella Quests: Blending IRL and Digital Experiences on Avalanche The Coachella Valley Music and Arts Festival has unveiled Coachella Quests, an Avalanche-powered loyalty game designed to enhance the festival experience. By rewarding participants for engaging in virtual and physical activities, Coachella Quests bridges the gap between the physical and digital worlds, driving fan engagement and long-term loyalty.
Gunzilla Games x OpenSea: Expanding Gaming NFT Marketplace on Avalanche Gunzilla Games, the AAA game studio behind the GUNZ blockchain, has announced its integration with OpenSea, one of the largest NFT marketplaces. This collaboration paves the way for gamers to trade in-game items from any game built atop the GUNZ platform, further enriching the gaming experience on Avalanche.
NFTS & CULTURE:
zeroone’s Subnet Launch and Mobile App Teaser: A Gateway to Digital Artistry zeroone, the popular artist platform, has unveiled its dedicated Avalanche Subnet, ushering in a new era of cost-effective operations for digital creators. In addition, zeroone provided a tantalizing glimpse of its forthcoming mobile app, promising a seamless user experience for artists and enthusiasts alike.
Kojii: Redefining AI Art on Avalanche Kojii, an experimental AI art platform powered by Avalanche, has made its debut, offering a groundbreaking model for AI-generated art. By collaborating with artists to sculpt AI models, Kojii empowers collectors to mint unique pieces based on their preferred visual styles, revolutionizing the intersection of AI and art.
INFRASTRUCTURE & ENABLEMENT:
ACP-77 Proposal: Streamlining Subnet Sovereignty on Avalanche Ava Labs Engineer Dhruba Basu has proposed ACP-77, outlining a path towards improved Subnet sovereignty on Avalanche. This proposal aims to reduce entry barriers for Subnet builders by removing AVAX staking requirements and optimizing network synchronization, fostering greater decentralization and innovation.
NodeKit’s Javelin: Enhancing Cross-Rollup Composability on Avalanche NodeKit, a decentralized sequencer and composability layer for rollups, has introduced Javelin, a groundbreaking protocol for cross-chain transactions. Javelin enables seamless interoperability between different rollup chains, unlocking new possibilities for cross-chain lending and decentralized exchange aggregation.
Conclusion: As Avalanche continues to push the boundaries of innovation and adoption, the future looks brighter than ever for the burgeoning ecosystem. With transformative developments in DeFi, Gaming, NFTs & Culture, and Infrastructure & Enablement, Avalanche is poised to redefine the landscape of decentralized finance and beyond. Join us on this thrilling.
References: Foundation, A. (2024). The Avalanche Snow Report: April 2024. Avalanche Foundation
