LATEST UPDATES IN AVALANCHE ECOSYSTEM!
Avalanche is an open-source platform for launching decentralized applications and enterprise blockchain deployments in one interoperable, highly scalable ecosystem. Avalanche is the first decentralized smart contracts platform built for the scale of global finance, with near-instant transaction finality. Ethereum developers can quickly build on Avalanche as Solidity works out-of-the-box.
The following are the latest news in Avalanche Ecosystem:
$367.5 million has been transferred from Ethereum to Avalanche in the last three days
According to CoinMarketCap, Avalanche has a market capitalization of around $22 billion. In terms of market capitalization, this platform is now the 12th largest cryptocurrency. In addition, the AVAX cryptocurrency is only $4.4 billion away from becoming one of the top ten most valuable cryptos. Avalanche now has $367.5 million transferred from Ethereum, according to Jay Kurahashi-Sofue, AvaLabs’ official VP of Marketing. Perhaps the reason for this shift is that everyone is tired of paying exorbitant fees for Ethereum transactions. In addition, the Avalanche network offers benefits that Ethereum does not. Ethereum has a transactional throughput rate of 14 tps. The red DeFi network, on the other hand, has nearly 4,500 tps. Aside from that, Ethereum’s transactional finality time is 6 minutes. With a transactional finality time of less than 2 seconds, Avalanche outperforms those times. AVAX was one of the few top altcoins in the crypto market that managed to maintain an uptrend during the bear market. AVAX reached a high of $94.79 on January 16, compared to $12.88 a year ago.
Source: CoinCu Post
Tether tokens (USDT) deposits and withdrawals are now possible on Bitfinex’s Avalanche platform
Bitfinex is excited to announce that users can now use the Avalanche transport protocol to deposit and withdraw Tether tokens (USDt). USDt, the largest stablecoin by market capitalization, will now be available on Avalanche, a decentralized smart contracts platform built for the scale of global finance. The Avalanche protocol is a highly scalable ecosystem that aims to provide near-instant transaction finality while charging fractions of a cent in transaction fees. USDt is supported by a number of e-commerce platforms and payment gateways, and it is already faster than credit and debit cards, as well as traditional payment methods.
Source: Bitfinex Post
Rocket Joe’s launch ushers in a new era for Trader Joe
Rocket Joe’s launch ushers in a new era for Trader Joe, turning the platform into a hub for new DeFi primitives. Rocket Joe, the ‘limitless liquidity launch platform,’ offers a unique way to keep Avalanche’s liquidity flowing.
Rocket Joe is essentially a type of ‘Launchpad.’ But, in the end, the solution it offers is unique in the current DeFi market. The following sections go over Rocket Joe’s main features. Through a fair market price discovery mechanism, participating users can earn protocol tokens by issuing them. Rocket Joe can be used by participating protocols to obtain Protocol Owned Liquidity (POL). Based on consumer demand for the Issuing protocol token, protocols launching from Rocket Joe will be able to raise a larger pool of liquidity. With a larger pool of liquidity, front-running bots will be discouraged, lowering volatility and providing a better trading experience. Both users and the Protocol’s launch benefit from this. Rocket Joe is also a useful primitive that can be used in conjunction with any existing Avalanche launchpad.
Source: Trader Joe Medium Post
Dexalot realeses DexalotDiscovery
DexalotDiscovery is a product for initial price discovery in a retail-friendly manner. With transparency and ease of use powered by Avalanche.
DOs are effective, but launching tokens on AMMs is not. Limit order functionality is not available in AMMs, and slippage control is insufficient. During launches, bots and MEV are wreaking havoc on users. To solve these issues, Dexalot introduces Dexalot Discovery. Limit orders will be supported by Dexalot Discovery. Bots won’t be able to block users with Dexalot Discovery. Users will have plenty of time to enter orders and match with Dexalot Discovery. Dexalot Discovery will make price discovery more orderly and equitable. AMM listings should become safer once a new asset’s price is discovered!
Source: Dexalot Medium Post
Roco finance transfers from all Decentralized Exchanges to Gate.io
Roco Finance collaborates with several Centralized Exchanges because we are committed to providing strong liquidity for our investors as well as accessibility for all (TBA by them). ROCO is a decentralized GAMEFI platform which provide blockchain services to game developers, content creators and player communities through the blockchain network. Roco developed on AVAX network for using in Roco Finance’s own game ecosystem and partner games. Roco Finance plans to drive the evolution of online gaming with targeted industry focused solutions to help promising gaming projects reach their full potential.
Source: RocoFinance Tweet
Platypus reached $800 million in Total Value Locked (TVL)
In just three days, Platypus has reached $800 million in Total Value Locked.
The Platypus Finance protocol is a single-side AMM (decentralized exchange) designed for exchanging stable cryptocurrencies (ERC20 tokens) on the Avalanche blockchain. The protocol is implemented as a set of smart contracts; designed to prioritize censorship resistance, security, self-custody and maximum capital efficiency. Platypus features single-token provision, eliminating impermanent loss risk for liquidity providers, and minimizing slippage for traders.
Source: Defillama Data
FishFinance NFT sale ends on Avalanche
FishFinance NFT sale ends on Avalanche. Minting begins now on Binance Smart Chain. NFT sale: 1666 #NFTs.
FishFinance is a Metaverse GameFi decentralized ecosystem, including racing fish game, built on LN, BSC & AVAX.
Source: FishFinance Tweet
