Monsoon Finance Launches on Avalanche Testnet
Monsoon Finance announces its launch on Avalanche Testnet, an EVM-compatible blockchain network. Monsoon has currently already launched on Polygon, and on other EVM compatible platforms.
You can use the tool on Avalanche Testnet here: https://avax.monsoon.finance
Known for providing scalability as well as being feature-rich, Avalanche is a framework that enables the creation of decentralized applications (dApps). Users can create several dApps or their smart assets with a fast, permissionless, and secure system with interoperability. In addition, Avalanche works like a marketplace for DeFi users who want to swap, create, trade, and store their assets and products.
With Avalanche, users can create fully customizable blockchains. Specifically, they will create subnets with defined core logics and functions. They can be either permissioned or permissionless. Further, users can trade customized assets or digital representations of assets. They can also build highly-scalable smart contracts or decentralized applications.
This event marks a significant milestone in further expediting our ultimate goal of enabling Privacy on every blockchain. Built by researchers from Cornell and other top scientists from Ava Labs, Avalanche is set to transform the way DeFi protocols are developed and understood.
This alliance will lead to a wallet-to-wallet privacy tool on the Avalanche testnet, followed by Monsoon’s Avalanche mainnet deployment.
About Avalanche: Avalanche sees the piecemeal nature of the crypto market across the world as a big hurdle. Currently, different countries work on different financial systems and regulations. Smooth trading of digital assets can be problematic.
Avalanche aims to solve this. It’s aiming to create a unified global financial market, where users of the platform will be able to trade digital currency in a frictionless way.
The project uses the proof-of-stake consensus algorithm. This not only makes it fast, but also consumes less energy than some other exchanges available. Avalanche’s own consensus network, AVA, enables this while also allowing the development of dApps by users to enhance the platform further. AVA also allows users to launch their own, admittedly smaller, networks with the right infrastructure.
About Monsoon:
Monsoon Finance is a decentralized multi-chain privacy protocol bringing private transactions to every smart contracts blockchain. On Monsoon, users get a privacy bridge, multi-chain private DEX, anonymity mining, trusted setup ceremony, and more. Monsoon is the first to bring privacy to BSC and Polygon & aims to be the first for other blockchains like Avalanche, Moonbeam on Polkadot, Aurora on NEAR, & Evmos on Cosmos.
