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
The Total Value Locked in 7-days has decreased by 10.9%, from $3.75 billion to $3.34 billion. The index has fallen due to a bad market situation as well as a very low level of user commitment to join Defi.
Stablecoin Supply
The total supply of stablecoins on Avalanche is currently $2.65b, Up 8.6% from $2.44b to $2.65b in a week.
In which $USDC accounted for 58.78% with a supply of $1.38b, $USDT accounted for 29.6% with a supply of $692.42m. The rest are other stablecoins, accounting for 11.62%.
Highlight Events
AMBUSH x Avalanche x OP3N to drop Limited Edition Wearable NFT
Through the collaboration, AMBUSH is producing a limited-run necklace in the form of a wearable NFT based on its popular lighter case pendant. Titled “A3,” the necklace comes in a limited edition AVAX RED colorway and includes a range of utilities.
More information: CLICK HERE
GoGoPool raises $5 million to provide decentralized staking on Avalanche
GoGoPool, a decentralized staking protocol on Avalanche, raised $5 million in a seed round co-led by Framework Ventures and Coinfund. Other investors in the round include Avalaunch, Republic Capital and Flow Traders, according to a release on Wednesday.
More information: CLICK HERE
DeFi Lego
AMM/DEX
Platypus introduces Voting Gauge: the ecosystem’s first voting gauges
It is a new feature that allows vePTP holders to control where PTP emissions go through the gauges. The PTP emission will be distributed proportionally according to the gauge weights of each pool. So the more votes a pool gets, the larger amount of PTP emission will be allocated to it, thus resulting in a higher APR for the pool.
More information: CLICK HERE
Dexalot-Subnet BETA for public testing
The original Dexalot Testnet was introduced on August 6, 2021, followed by the Mainnet launch on Dec 6, 2021. Subsequently, the Dexalot Subnet Testnet was created on April 25, 2022. Simply said, all chain environments are being updated as Dexalot migrates to the new architecture.
More information: CLICK HERE
Trader Joe to Partner with Floki to Use the FlokiFi Locker Protocol
With this partnership, FlokiFi Locker will be collaborating with Trader Joe as a protocol for locking LP tokens of projects that list on its DEXs. Trader Joe will also be recommending FlokiFi Locker as an LP locker solution to projects that launch on its liquidity bootstrapping protocol, Rocket Joe.
More information: CLICK HERE
NFT/Gaming
Community Partnership: SHRAPNEL x SNACKCLUB
By investing in SHRAPNEL, SNACKCLUB adds our unique AAA experience to its portfolio and brings it to the attention of its Gaming Guild members.
In return, the SNACKCLUB community will have the chance to create and display their own identity in-game from launch. And when it comes to community voting power within SHRAPNEL, the members’ collective voice will hold a far larger sway than any one individual.
More information: CLICK HERE
NEW PROJECTS
Cepheus Cloud: The Cepheus protocol is designed to provide generative wealth. Rewards earned in this way are then used to govern the protocol and scale the infrastructure autom
Verdict
The above are some recent developments in the Avalanche ecosystem that are notable. Avalanche, like the majority of other blockchains, is now experiencing a decline along with the market in general. Stay updated for major announcements next week!
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
