Checking the latest developments in the Avalanche ecosystem, whether it can take over and usher in a rise in the Solana ecosystem

Exploring the Latest Developments in the Avalanche Ecosystem Is it Poised to Ignite a Surge in the Solana Ecosystem?

This wave of opportunity with Solana was missed, and people often look for the next Solana.

Written by: Deep Tide TechFlow

Recently, the Solana ecosystem has performed exceptionally well, with the entire ecosystem experiencing a widespread bull market. In particular, the recent airdrop of Jito has made many users pay attention to Solana’s interactions.

When this “Solana” opportunity is missed, people often start looking for the next “Solana”.

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Just like when BRC insignias are not obtained, people go for Eth/Solana insignias. Whether it makes sense or not is not important, just charge ahead and figure it out later.

In the previous bull market, Solana led the way among Alt Layer1, followed by breakthroughs in tokens of public chains such as Avalanche and Polygon.

After this wave of Solana’s bull market, similarly, more and more users have started paying attention to Avalanche’s ecosystem. AVAX has also recently surpassed $30 and risen to 11th place in rankings. This article will take stock of Avalanche’s latest ecosystem progress and project situations, hoping to help friends who are interested in Avalanche’s ecosystem.

1. Avalanche Catalyst

In terms of the development of the public chain itself, the biggest progress of Avalanche lies in the direction of RWA (Real World Assets) and cooperation with enterprises. The following image lists financial institutions that are currently using or testing Avalanche, including:

1- Fidelity: Located in Boston, it is a leader in asset management and brokerage services, managing assets of about $4.2 trillion. 2- JPMorgan Chase & Co.: Located in New York, it is a renowned global investment bank and financial services provider, managing assets of about $2.6 trillion. 3- Wellington Management: Located in Boston, it is a major participant in the field of mutual funds and institutional management, managing assets of about $1.4 trillion. 4- T.Rowe Price: Located in Baltimore, it is a globally recognized active investment management company, managing assets of about $1.31 trillion. 5- KKR: Located in New York, it is a global investment firm with influence in the private equity field, managing assets of about $429 billion. 6- Apollo: Located in New York, it is a highly anticipated alternative investment management company, managing assets of about $461 billion. 7- WisdomTree: Located in New York, it is well-known for ETFs and innovative investment solutions, managing assets of about $75.5 billion. 8- ANZ: Located in Australia, it is one of the largest banks in the country and has a significant position in the financial services sector, not primarily based on assets under management (AUM). 9- Citi: Located in New York, it holds a significant position in consumer banking and the global financial sector, not primarily based on assets under management (AUM). 10- Republic: Located in New York, it is a leading Web3 platform focused on private investment and securities, with an unspecified asset management scale.

In addition, Avalanche also collaborates with top global companies such as IEEE, TSM, and ST.

The above collaborations are closely related to Avalanche’s emphasis on compliance. The SEC recently released a list of tokens classified as securities, including SOL and MATIC, but AVAX is not included.

Considering Avalanche’s feature of customizable subnets, we can still expect more enterprises to collaborate with Avalanche in the future.

2. DeFiTraderjoe: The largest DEX on Avalanche

Speaking of DeFi, most of the trading volume on Avalanche occurs on TraderJoe. Based on the data from November 12th to November 18th, TraderJoe constitutes 67% of the volume on Avalanche and is undoubtedly the top DEX.

TraderJoe was established in 2021 and underwent a comprehensive brand update earlier this year. It also launched Liquity book as a product and performed impressively during the arbitrum airdrop period. For more detailed information about Liquity book, please refer to the article: “与 Uniswap V3 对比，Trader Joe 的 Liquidity Book 解决了哪些问题？“.

Regarding future development, the co-founder has recently shared some plans on Twitter. However, for users, the most immediate opportunity to participate is the Layerzero airdrop.

Currently, $JOE has been deployed on Avalanche, arbitrum, and BNB Chain. Users can cross $JOE to different chains through the Bridge button on the official website’s homepage. Layerzero provides the cross-chain solution for $JOE.

Steakhut: Liquidity management solution based on Trader Joe

SteakHut provides automated liquidity management solutions for LPs. The project initially served TraderJoe and benefited from TraderJoe’s recent appreciation. The $STEAK token of SteakHut also experienced a 400%~500% increase in value within a month.

Recently, SteakHut completed its seed round of financing and will expand its vision to provide better liquidity management solutions for the entire Avalanche ecosystem.

Benqi: The Largest Lending and Liquidity Protocol on Avalanche

Benqi is one of the most important protocols in the Avalanche ecosystem, providing lending and liquidity staking services. It is currently the protocol with the highest Total Value Locked (TVL) in the Avalanche ecosystem.

Benqi has a long history in the Avalanche ecosystem, and whenever $AVAX performs well, its token $QI tends to receive more attention. Additionally, $QI is the only token in the Avalanche ecosystem that has been listed on Coinbase.

3. GameFiShrapnel: The Hottest AAA Chain Game on Avalanche

Shrapnel is a project that launched in early 2022. We previously did a nearly 30-minute video explaining its whitepaper and prospects. Interested friends can learn more through the video: SHRAP | Shrapnel, a 3A shooting chain game on Avalanche that encourages independent creation

Recently, this game has gained popularity mainly because its token $SHRAP has been consistently rising in value, with its Fully Diluted Valuation (FDV) exceeding 1 billion.

Shrapnel has previously released some promotional videos and conducted offline testing at many Avalanche events, receiving generally positive feedback. Additionally, two months ago, the project received a $20 million investment led by Polychain.

Due to Shrapnel’s influence, more and more users are starting to pay attention to the gaming ecosystem on Avalanche. However, to summarize, apart from Shrapnel, there are currently no particularly impressive games. The previously popular Defikingdoms and Ascenders experienced situations such as online bugs and soft rugs respectively.

However, judging from the current community’s popularity, games like Off The Grid (developed by Gunzilla Games), BloodLoop, and Defikingdoms have more discussions within the community.

4. NFTDokyo: The Hottest NFT on the Avalanche Ecosystem

If you pay attention to the Avalanche ecosystem, you will see that many people have switched to Dokyo avatars. There are a total of 5,555 NFTs, with a current floor price of 37.5 $AVAX. The only known team member is 0xBrando.

Smol joes/Joe Hat: An NFT project launched by the TraderJoe team

The TraderJoe team has launched their own NFT platform called Joepegs, and has secured millions of dollars in funding from FTX and Avalanche. They have since launched several NFT projects, but the current core developments are Smol Joes and Peon.

In addition, as early as 2021, the TraderJoe team had launched the Joe Hat project, which was similar to uniswap’s unisocks. There were only 150 tokens available, and owning $HAT could exchange for a real-world hat.

Recently, Joe Hat has been hyped by “mysterious forces” and its price has reached an all-time high. It has also gained popularity on Avalanche. However, the market fluctuates greatly, so it is advised to exercise caution.

5. memeHusky: Bonk on Avalanche

Husky is the first “dog” on Avalanche and is a well-known meme project.

The project has been launched for over two years, but it has recently experienced a dramatic surge in popularity during discussions about Avalanche memes.

Coq: The latest meme launched only 3 days ago

$COQ is a meme project launched by @WojakSatoshi on December 8th. Since its launch, the community has shown great enthusiasm and its value has been steadily increasing. Currently, its fully diluted valuation is 28 million, surpassing Husky.

Bear: Avalanche co-founder’s “dog”

$BEAR was released on December 9th after Avalanche co-founder Kevin posted a picture of his dog on social media. Since its name was “BEAR,” users started posting memes with the same name.

The project has only been launched for one day and its market is highly volatile. This is just for informational purposes and should not be considered as investment advice.

6. OthersColony: An aggregation platform supporting early-stage projects on Avalanche

Colony is another project that was launched in 2021. The recent attention it has received is mainly due to the launch of the Avalanche Ecosystem Fund, which has raised over 10 million dollars to support the development of Avalanche ecosystem projects. This is possible because Colony has been accumulating $AVAX tokens during the bear market, and the treasury currently holds over 500,000 $AVAX tokens, worth approximately 15 million dollars.

The Colony token, $CLY, has also seen a recent increase of 385.5% in value, with a current market capitalization of 24 million and fully diluted valuation of 38 million. By holding and staking $CLY tokens, holders will have the opportunity to enjoy the following benefits:

1- Participate in early investments in projects supported by Colony

2- Receive airdrops for investing in Colony projects

3- Earn incentives as a validator on Avalanche

4- Receive airdrops of $CAI (an Avalanche index fund launched by Colony)

5- Receive airdrops of $CLY (from Colony protocol revenue, such as unstake fees)

Aval: The most well-known motto on Avalanche

Following the trend of mottos on other public chains, Avalanche has also launched an asc-20 token, with aval being the most discussed in the community. It is understood that the current OTC price is 0.2u, with moderate popularity.

HypersLianGuaice: A new NFT platform where you can earn points by completing tasks

HypersLianGuaice is a well-known cross-chain NFT platform that has launched a task-based points-earning activity on Avalanche, where participants can earn $AVAX rewards. In the just-concluded Season 1, over one million dollars in incentives were distributed.

However, there was previous marketing claiming that over one million $AVAX rewards would be given out, and the current incentive amount is drastically different. As a result, there is some community fud, and Season 2 has already begun.

Fitfi: StepN on Avalanche

SteLianGuaipp is a shoe simulation platform on Avalanche, and recently there have been discussions among Avalanche users regarding its rebranding plans. Its token $FITFI has also risen by 95% within 30 days.

After several years of development, the Avalanche ecosystem currently has over 350 protocols and applications, while some projects have gradually ceased operations or conducted soft rugs. The following shows a relatively complete picture of the Avalanche ecosystem.

Please note that this article is a compilation of key information and does not constitute any investment advice. Interested friends are also welcome to join the Avalanche community group (link) for sharing and discussion.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!