Thank you for reading this piece. If you LOVE this article, you can send a tip to Cryptojeter.eth (my ETH address)! Follow me on Twitter @CryptoJeter and retweet this post! Feel free to shoot me a DM as I love meeting new folks!

https://twitter.com/CryptoJeter/status/1507126862354567173?s=20&t=Zx0Ie92PQrJVnfm8CuyQMg

Thank you for the support!

***Views are my own***

The Avalanche protocol, incubated by Ava Labs, is a layer one protocol that has emerged as one of the popular mediums of development in Web3. Avalanche is in the same conversation as other layer ones such as Ethereum, Solana, Terra, and Cardano. Unlike the aforementioned names, Avalanche is designed specifically with decentralized finance (DeFi) in mind but is expanding to other areas within web3. The team has made a bunch of impressive developments in the last few months, which show that the team is on a path to much success in the future.

According to founder Emin Gün Sur’s all-access talk in February, the Avalanche protocol has made major strides with adoption. This is shown as the protocol is servicing 1 million transactions per day with $16 billion locked on chain. Additionally, there are 120,000 smart contracts deployed on-chain. Avalanche’s smart contract usage shows that the community is taking advantage of the protocol’s functionality as opposed to only speculating on the asset. With the increased transaction growth and smart contract deployment it only takes the energy of 46 US households to run the Avalanche protocol which is a fraction of the amount of energy required to run the Ethereum or Bitcoin networks.

Avalanche is also seeing some interesting projects onboard onto the protocol. The first project that I’ll mention is Benqi, which launched liquid staking on the Avalanche protocol. Liquid staking is the act of using tokens in DeFi while continuing to stake them. This is super impactful as it should draw more users to the staking world. Another dApp, Dexalot, launched price discovery on the Avalanche protocol. According to Coinspeaker, “ Dexalot Discovery will combine the CLOB with a novel auction system, which will allow investors (seed, private, IDO and public) to enter no slippage orders over the course of a period (hence eliminating the speed advantage of bots), enable users to see buy and sell demand very transparently, and match buyer and sellers fairly at the end of the process”. Ava Labs’ CEO was very excited about this development as it provides a competitive advantage to the protocol as the discovery tool is unique to Avalanche. With devs building unique dApps in this rapidly evolving ecosystem, it is encouraging for the Avalanche community that the protocol is a viable option for these innovations.

Ava Labs is also expanding the segmentation of Avalanche users by moving into the gaming space. Recently, games like Shrapnel, Ragnarok, Ascenders, DeFi Kingdoms, Crabada have all created subnets on the Avalanche protocol. With the case of Ragnarok, the project is the first Web3 Massively multiplayer online role-playing game. The game features NFTs that are not only cosmetic but also have utility during gameplay.

As mentioned above, Avalanche has continued to drive notable projects to the protocol. One of the ways that Avalanche has brought more of these projects to the protocol is through incentives. Recently, Avalanche created a program called, Multiverse, which is providing up to $290 million dollars in incentives to accelerate the growth of subnet functionality with an initial focus on ecosystems in gaming, DeFi, NFTs, and institutional use cases. In the gaming space, DeFi Kingdoms will have its own subnet that includes $15 million. Additionally, Ava Labs will collaborate with companies like Aave, Jump Crypto, and others to build the first horizontally-integrated blockchain specifically engineered for institutional DeFi with native KYC functionality. Ultimately, that partnership will enable regulated institutions to use subnets to access DeFi primitives at scale and accelerate the institutional adoption of DeFi.

Recommendations for Ava Labs:

With the growth of the Avalanche and increased usage of smart contracts on the protocol, Ava Labs can connect developers on the Avalanche who may find it beneficial to build with other members of the Avalanche ecosystem. Reducing the hurdle of partnership for builders and allies in the community should spur creative use cases and dApps for the Avalanche protocol. Additionally, it should increase the smart contract activity, leading to a higher usage rate and increased adoption amongst the community.

Avalanche can create an academy for traditional Web2 venture capitalists, angel investors, and Web3 native venture capitalists in the form of a summit. This summit will feature panels from founders, investors, and the Ava Labs team educating the audience regarding the Avalanche protocol’s use cases and outcomes in the protocol's early tenure. This summit can provide the necessary education for the attendees to be able to articulate their knowledge of the Avalanche protocol and encourage the onboarding of new projects in the ecosystem. These stakeholders can also evangelize this summit to their communities which may spur a network effect as successful Web3 founders will encourage their communities to explore leveraging the Avalanche protocol for their individual projects.

One of the new segments that Avalanche is attacking is gaming. Ava Labs may want to consider hosting tournaments or sponsoring tournaments that feature existing games on the Avalanche protocol. Ava Labs should invite developers and game studios to attend the tournaments. These events would effectively serve as demos to new developers and studios which will draw their interest in partnering with Ava Labs on their future projects. Ultimately, this should drive a high-value pipeline in this emerging use case for Avalanche.

https://twitter.com/CryptoJeter/status/1507126862354567173?s=20&t=Zx0Ie92PQrJVnfm8CuyQMg

Thank you for reading this piece. If you LOVE this article, you can send a tip to Cryptojeter.eth (my ETH address)! Follow me on Twitter @CryptoJeter and retweet this post! Feel free to shoot me a DM as I love meeting new folks!

********

Sources:

https://www.coinspeaker.com/dexalot-raises-7m-build-order-book-dex-on-avalanche/

https://medium.com/avalancheavax/avalanche-foundation-launches-multiverse-an-up-to-290m-incentive-program-to-accelerate-growth-of-c815ac5692c7

Thank you for reading this piece. If you LOVE this article, you can send a tip to Cryptojeter.eth (my ETH address)! Follow me on Twitter @CryptoJeter and retweet this post! Feel free to shoot me a DM as I love meeting new folks!

https://twitter.com/CryptoJeter/status/1507126862354567173?s=20&t=Zx0Ie92PQrJVnfm8CuyQMg

Thank you for the support!

***Views are my own***

The Avalanche protocol, incubated by Ava Labs, is a layer one protocol that has emerged as one of the popular mediums of development in Web3. Avalanche is in the same conversation as other layer ones such as Ethereum, Solana, Terra, and Cardano. Unlike the aforementioned names, Avalanche is designed specifically with decentralized finance (DeFi) in mind but is expanding to other areas within web3. The team has made a bunch of impressive developments in the last few months, which show that the team is on a path to much success in the future.

According to founder Emin Gün Sur’s all-access talk in February, the Avalanche protocol has made major strides with adoption. This is shown as the protocol is servicing 1 million transactions per day with $16 billion locked on chain. Additionally, there are 120,000 smart contracts deployed on-chain. Avalanche’s smart contract usage shows that the community is taking advantage of the protocol’s functionality as opposed to only speculating on the asset. With the increased transaction growth and smart contract deployment it only takes the energy of 46 US households to run the Avalanche protocol which is a fraction of the amount of energy required to run the Ethereum or Bitcoin networks.

Avalanche is also seeing some interesting projects onboard onto the protocol. The first project that I’ll mention is Benqi, which launched liquid staking on the Avalanche protocol. Liquid staking is the act of using tokens in DeFi while continuing to stake them. This is super impactful as it should draw more users to the staking world. Another dApp, Dexalot, launched price discovery on the Avalanche protocol. According to Coinspeaker, “ Dexalot Discovery will combine the CLOB with a novel auction system, which will allow investors (seed, private, IDO and public) to enter no slippage orders over the course of a period (hence eliminating the speed advantage of bots), enable users to see buy and sell demand very transparently, and match buyer and sellers fairly at the end of the process”. Ava Labs’ CEO was very excited about this development as it provides a competitive advantage to the protocol as the discovery tool is unique to Avalanche. With devs building unique dApps in this rapidly evolving ecosystem, it is encouraging for the Avalanche community that the protocol is a viable option for these innovations.

Ava Labs is also expanding the segmentation of Avalanche users by moving into the gaming space. Recently, games like Shrapnel, Ragnarok, Ascenders, DeFi Kingdoms, Crabada have all created subnets on the Avalanche protocol. With the case of Ragnarok, the project is the first Web3 Massively multiplayer online role-playing game. The game features NFTs that are not only cosmetic but also have utility during gameplay.

As mentioned above, Avalanche has continued to drive notable projects to the protocol. One of the ways that Avalanche has brought more of these projects to the protocol is through incentives. Recently, Avalanche created a program called, Multiverse, which is providing up to $290 million dollars in incentives to accelerate the growth of subnet functionality with an initial focus on ecosystems in gaming, DeFi, NFTs, and institutional use cases. In the gaming space, DeFi Kingdoms will have its own subnet that includes $15 million. Additionally, Ava Labs will collaborate with companies like Aave, Jump Crypto, and others to build the first horizontally-integrated blockchain specifically engineered for institutional DeFi with native KYC functionality. Ultimately, that partnership will enable regulated institutions to use subnets to access DeFi primitives at scale and accelerate the institutional adoption of DeFi.

Recommendations for Ava Labs:

With the growth of the Avalanche and increased usage of smart contracts on the protocol, Ava Labs can connect developers on the Avalanche who may find it beneficial to build with other members of the Avalanche ecosystem. Reducing the hurdle of partnership for builders and allies in the community should spur creative use cases and dApps for the Avalanche protocol. Additionally, it should increase the smart contract activity, leading to a higher usage rate and increased adoption amongst the community.

Avalanche can create an academy for traditional Web2 venture capitalists, angel investors, and Web3 native venture capitalists in the form of a summit. This summit will feature panels from founders, investors, and the Ava Labs team educating the audience regarding the Avalanche protocol’s use cases and outcomes in the protocol's early tenure. This summit can provide the necessary education for the attendees to be able to articulate their knowledge of the Avalanche protocol and encourage the onboarding of new projects in the ecosystem. These stakeholders can also evangelize this summit to their communities which may spur a network effect as successful Web3 founders will encourage their communities to explore leveraging the Avalanche protocol for their individual projects.

One of the new segments that Avalanche is attacking is gaming. Ava Labs may want to consider hosting tournaments or sponsoring tournaments that feature existing games on the Avalanche protocol. Ava Labs should invite developers and game studios to attend the tournaments. These events would effectively serve as demos to new developers and studios which will draw their interest in partnering with Ava Labs on their future projects. Ultimately, this should drive a high-value pipeline in this emerging use case for Avalanche.

https://twitter.com/CryptoJeter/status/1507126862354567173?s=20&t=Zx0Ie92PQrJVnfm8CuyQMg

Thank you for reading this piece. If you LOVE this article, you can send a tip to Cryptojeter.eth (my ETH address)! Follow me on Twitter @CryptoJeter and retweet this post! Feel free to shoot me a DM as I love meeting new folks!

********

Sources:

https://www.coinspeaker.com/dexalot-raises-7m-build-order-book-dex-on-avalanche/

https://medium.com/avalancheavax/avalanche-foundation-launches-multiverse-an-up-to-290m-incentive-program-to-accelerate-growth-of-c815ac5692c7