Introduction to Avalanche
Avalanche is a smart-contract platform created by Ava Labs, designed for deploying blockchain-based projects. It offers several key advantages:
- Fastest time-to-finality of any blockchain platform
- Decentralized and interoperable within the Avalanche ecosystem
- Inexpensive transaction costs
- Flexible architecture
What’s New on Avalanche
Avalanche has seen significant developments in technology and business throughout early 2023. Here are the highlights:
Avalanche Warp Messaging (AWM)
Avalanche’s Subnet-to-Subnet interoperability solution, AWM, enables blockchains to exchange arbitrary messages. This enhances project versatility and accelerates service creation within the ecosystem.
AWS Partnership
Amazon Web Services (AWS) partnered with Ava Labs to support enterprise, institutional, and governmental adoption. Benefits include one-click node deployments, support via AWS GovCloud, and AWS credits for ecosystem developers.
Alibaba Collaboration
Alibaba Cloud supports Avalanche validator deployment and provides resources for ecosystem developers, including credits and computing services.
Shopify Integration
Shopify has integrated Avalanche NFTs into its merchant application Venly, allowing merchants to design, mint, and sell NFTs directly to customers.
The Past Month in Decentralized Finance (DeFi)
Decentralized finance (DeFi) on Avalanche has witnessed significant activity across various sectors:
Decentralized Exchanges (DEX)
Trader Joe has emerged as the leading DEX on Avalanche, utilizing The Liquidity Book technology to incentivize liquidity providers. GMX and Woofi have also gained traction in on-chain perpetual and spot markets, respectively.
Borrowing and Lending Protocols
Aave dominates the borrowing and lending space on Avalanche and remains a major player in the Ethereum ecosystem. BenQi, a native yield-generating and liquid staking protocol, has also achieved notable Total Value Locked (TVL).
GameFi and Fitness Finance
DeFi Kingdoms continues to lead as the most popular game in Avalanche, while StepApp has seen spikes in daily volume with its FitFi approach, allowing users to earn rewards through fitness activities.
For more information on Avalanche’s gaming ecosystem, visit Avalanche GameFi.
https://medium.com/avalancheavax/avalanche-watch-33e7e2baeaed
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