This Avalanche weekly recap is for informative purposes only and not investment advice. Let’s have a look at the new updates this week.
Network Growth
Total Value Locked
After recovering the previous week, there was a slight reflection last week. The Total Value Locked in 7-days has decreased 0.6%, from $4.92 billion to $4.89 billion. There was a significant increase in TVL on July 31 due to Bitcoin’s recovery, but it quickly plummeted.
Stablecoin Supply
The total supply of stablecoins on Avalanche is currently $2.62b, Down 15.48% from $3.1b to $2.62b in a week.
In which $USDC accounted for 60.27% with a supply of $1.57b, $USDT accounted for 25.83% with a supply of $672.31m. The rest are other stablecoins, accounting for 13.9%.
Highlight Events
Avalanche Hacks Summer 2022 Announcement
Avalanche Hacks | Summer 2022 is an AngelHack hackathon focused on building on Avalanche. Collaborating with partners across the Avalanche ecosystems, this hackathon aims to ensure that hackers have a wide variety of technologies to use to build their projects.
More information: CLICK HERE
Unbound Launches on Avalanche to Make Revenue Opportunities More Accessible to Avalanche Users
Unbound being a decentralized, cross-chain lending platform provides DeFi users with ingenious yield enhancement technology. Network users can now leverage the Unbound platform to obtain perpetual, liquidation-free crypto loans at zero interest rates. Loans will be issued in the form of UND stablecoin against LP tokens of select pools across various Avalanche-based Dexs.
More information: CLICK HERE
Amberdata to Deliver Comprehensive Data on Avalanche
Amberdata’s institutional-grade platform will provide granular data on Avalanche, including key insights into DeFi.
More information: CLICK HERE
Fractal Partnered with Avalanche to Bring Decentralized Identity to the Avalanche Ecosystem
Fractal is supporting Avalanche by bringing DIDs to the Avalanche ecosystem, enabling users to seamlessly jump from one dApp to another.
More information: CLICK HERE
DeFi Lego
DEX
Pangolin will launch on Songbird, Flare’s Canary Network, in August
By launching on Flare, Pangolin aims to take advantage of Flare’s native interoperability infrastructure to greatly increase the amount of cross-chain token pairs, offer in-dApp swap functionality to partner projects, and bootstrap liquidity for the network.
More information: CLICK HERE
Introducing Synapse Chain
Synapse Chain is the first sovereign execution environment dedicated to the development of cross-chain applications and primitives. By leveraging Synapse’s generic cross-chain messaging system and token bridge, Synapse Chain serves as the organizational hub and execution layer for all cross-chain smart contract activity.
More information: CLICK HERE
WOO X has integrated with Ramp — allowing support for more fiat-to-crypto payments
WOO X is removing barriers to entry for zero-fee trading by integrating with third-party payment widget Ramp, to facilitate fast, secure, and frictionless fiat-to-crypto payments.
More information: CLICK HERE
Yield Aggregator
Liquid Staking is now on Yield Yak
100K AVAX supply cap to start. We’re bringing high yields for securing the Avalanche network as well as instant (low slippage) exits. APR (~7%) is just warming up as the yield engine furnaces are being stoked.
More information: CLICK HERE
Insurance
Degis’s Update on Buyer Incentives function
As Degis is developing upcoming protection products, we’ve made some changes to the buyer incentives function:
- After purchasing all kinds of protection (price protection model & protocol protection later), users can get the same amount of Degis Buyer Token (DBT)
- DBT can be staked into Buyer Incentive for $DEG reward
- The DBT will be burned once the $DEG reward is distributed
- Rewards are issued every 15 days
- Each time, 10000 DEG will be distributed
More information: CLICK HERE
NFT/Gaming
Lost Worlds announces its GeoNFT Launchpad
Drop your own geoNFT anywhere in the world for free!
- Submit Your Art
- Set a Location
- Set Your Price
- We Deploy
- People Mint
- Earn 90% of Mint Revenue
- Earn with contest submissions
More information: CLICK HERE
The Heroes Chained Beta is launching on Aug 5th
To participate in the beta, you must have at least one idle MayinHara or Beta Ticket in your wallet. The players can log-in to the game by connecting their Metamask wallet to the game.
More information: CLICK HERE
RunBlox App is finally listed on Google Play Store
As the first Web3 app to be released in the Bloxverse, RunBlox was built by Openblox and will be the first to go live there.
NEW PROJECTS
Vacus Finance – Yield: A game-changing yield optimizer on Avalanche. Earn and Multiply.
Verdict
The Avalanche ecosystem saw a number of major new events over the course of the previous week, some of which are outlined above. The market as a whole made progress in a positive direction during the last week. August’s main event will have Hacks Summer 2022, a virtual hackathon designed for builders around the world to solve key challenges in DeFi and GameFi, with $50K in prizes. If you are interested in the Avalanche ecosystem, this event is not to be missed.
Find more information about Avalanche:
Website: https://www.avax.network/
Whitepaper: https://www.avalabs.org/whitepapers
Twitter: https://twitter.com/avalancheavax
Telegram: https://t.me/avalancheavax
If you have any questions, comments, suggestions, or ideas about the project, please email [email protected].
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Marshall
Coincu Ventures
