All You Need to Know About Avalanche9000’s Etna Mainnet Upgrade

Avalanche9000: The Network Overhaul

Avalanche9000 represents a fundamental overhaul of the Avalanche blockchain ecosystem. The Etna upgrade replaces the old Subnet model, which had been criticized for high staking thresholds and operational costs for validators.

With Avalanche9000, developers can now launch Layer 1 blockchains more quickly and with fewer barriers. The upgrade offers the following key benefits:

• 99.9% reduction in Layer 1 deployment costs
• 96% drop in C-Chain fees
• Customizable staking mechanisms, gas fees, tokens, and compliance options, including geo-restrictions

These changes aim to remove significant economic and technical barriers, empowering developers to tailor their blockchain networks to specific use cases. This level of customization opens up new possibilities for projects across the ecosystem.

Improved Interoperability with Interchain Messaging (ICM)

In addition to cost reduction and customization, Avalanche9000 introduces Interchain Messaging (ICM) to enhance interoperability between different blockchain networks. This integration improves the communication between chains within the Avalanche ecosystem, allowing for smoother and more seamless interactions across platforms.

The ultimate goal of these improvements is to attract more developers and projects to the Avalanche network, boosting its growth and influence within the blockchain space.

Avalanche9000 Launch and Token Sale

Avalanche9000 was first launched on the Avalanche “Fuji” testnet on November 25, 2024. The mainnet rollout followed closely after. Just days before the mainnet launch, Avalanche also announced a $250 million locked-token sale, which was supported by prominent investors such as Galaxy Digital, Dragonfly, and ParaFi Capital.

Over 40 companies participated in the sale, with notable contributors including:

• SCB Limited
• Republic Capital
• Lvna Capital
• Hivemind
• Big Brain Holdings
• Morgan Creek Digital
• Hypersphere
• FinTech Collective
• SkyBridge

AVAX’s Performance After the Launch

Despite the groundbreaking Avalanche9000 upgrade, the performance of AVAX, the native token of the Avalanche network, has remained relatively underwhelming. After a strong start to 2024, AVAX reached a yearly high of $65.39, only to experience a significant drop shortly after.

While there was some recovery in November, AVAX has yet to regain its previous highs. As of December 2024, AVAX’s performance has remained lackluster compared to other altcoins. Despite this, the token has posted a modest 9.28% increase over the past week, with its current price standing at $50.18.