Avalanche has surfaced as one of the top smart contract blockchains. This is all thanks to its active programmer network. Avalanche also runs an enhanced infrastructure that provides speed and security to its users. So, as the month comes to an end, here are some new updates.
April has been a huge month for Avalanche’s community. The blockchain network continued its blistering form in the first quarter of the year. This month, Avalanche witnessed multiple partnerships and launches. One of the biggest stories on Avalanche was the collaboration with Terra. Since then, Avalanche has had other activities. Let’s look at a few of them.
Avalanche Foundation Invests in Yeti Finance
Yeti Finance is a leading Avalanche native decentralized borrowing protocol. The platform recently announced that it had received investment from the Avalanche Foundation. This funding mirrors Avalanche’s support for Yeti Finance. Also, Avalanche’s team will continue to provide advice and other forms of assistance to Yeti. The borrowing platform aims to be one of the leading DeFi protocols.
Yeti has introduced several features since it emerged last year. The platform supports one-click leverage and de-leverage and yield strategies. However, the recent boost from Avalanche would keep the platform on a consistent growth track.
Avalanche Foundation makes a strategic Investment in Yeti Finance to unlock billions in new liquidity🔺https://t.co/Y6u90ltowO
— Yeti Finance 🔺 (@YetiFinance) April 22, 2022
MEXC Global to List Degis
Degis is an all-in-one insurance market that launched on Avalanche earlier this month. The platform seeks to offer users protection against risk through hedging. As part of its advancement move, Degis recently announced that crypto trading platform MEXC Global had listed it. Later on, MEXC will open yield mining of $DEG in the MX-DeFi panel.
Furthermore, MEXC Global has been collaborating with Degis since the outset. MEXC Global, as an investor, will aid Degis in leveraging its extensive network of blockchain communities and retail investors. In addition, the trading platform will provide Degis with consultation for marketing techniques and speed up growth.
— Degis 🔺 (@ProjectDegis) April 23, 2022
Futureswap v4.1 Launches on Avalanche
Futureswap is a platform that uses AMM liquidity to generate leveraged pairs. This enables traders to manage risk and leverage on any pair listed on the underlying AMM. Futureswap recently announced that it would be launching the next version of Futureswap on Avalanche. In addition, Trader Joe would serve as its first AMM.
Furthermore, Futureswap will use Trader Joe to create leveraged exchanges on the most popular trading pairs. This would include JOE-USDC and AVAX-USDC. In addition to all of these, Futureswap will extend to additional pairs later on. The upgrade extends Futureswap’s leverage protocol with new qualities that make it much more versatile and configurable.
Check out our new blog post about the v4.1 update and what it means for the next stage of Futureswap! Learn more about how our expansion to @avalancheavax gets us one step closer to truly decentralized permissionless markets: https://t.co/yf3bmWaTMG #Avalanche
— Futureswap 🐸 (@futureswapx) April 22, 2022
Pocket Worlds to Launch First-Ever Metaverse Subnet
Pocket Worlds is a digital world creator. The platform became the latest project to expand into Avalanche’s subnet. Also, Highrise, Pocket World’s first metaverse, is a well-performing project. With about 2 million active monthly users, the platform has earned some popularity. However, Highrise is set for more growth. It will use a subnet for Web3 expansion, taking advantage of its speed, security, scaling, and customizability.
Anton Bernstein, co-founder, and CEO of Pocket Worlds, spoke of the vision for Highrise. He said, “We see a future where every brand or community has a Reddit, a Discord, and a Highrise. This Highrise will be their own interactive virtual world with virtual goods and a rich economy, all operating on an Avalanche subnet we’re calling the Highrise Blockchain.”
Additionally, Highrise World offers its users a chance to create their own metaverse communities. Over time, the digital world will have about 160,000 land parcels. And, each of which will allow landowners to construct their own Highrises.
Ava Lab’s Ed Chang expressed his delight in having Pocket Worlds on Avalanche. He said, “We’re thrilled that Pocket Worlds will be building on an Avalanche subnet and bringing their background in creating social experiences in mobile to web3.”
The term m*tav*rse is extremely overused but today we're proudly welcoming @itspocketworlds and the 2M MAU on their flagship product @HighriseApp as the first native Avalanche metaverse! What's special? 🧵 https://t.co/qSuSosOxYk
— Ed Chang 🔺 (@EdC) April 27, 2022
Pocket Worlds believes in Avalanche subnet. The speed of these subnets would foster a better metaverse experience. Furthermore, subnets provide unrivaled scalability. This gives Pocket Worlds the potential to continue growing its user base.
Avalanche has expressed plans to focus on subnets in Q2. The scalable blockchain network launched the Multiverse initiative some weeks ago. The funds were meant to boost the adoption of Avalanche’s subnets.
As of this writing, AVAX trades at $70.15. Also, it has a 24-hour trading volume of $458,602,961. Furthermore, Avalanche is down 0.13% in the last 24 hours. It has a current market cap of $18,841,981,363
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