Avalanche recently made a series of intriguing partnerships and announcements. Since the month began, Avalanche’s community has remained busy with multiple engagements. Here are the updates that Altcoin Buzz covered within the week.
Avalanche put up a remarkable performance since the new year. The scalable blockchain has enjoyed profound community growth. Furthermore, more DeFi projects have turned to Avalanche’s unique features to grow their communities. Here are the updates.
1) Bitstamp Lists AVAX
London-based crypto exchange, Bitstamp, recently confirmed its listing of the AVAX token. Furthermore, it also announced plans to list the wrapped Bitcoin (wBTC). The addition of these tokens could aid in boosting prices and recovery. On listing, users can trade these tokens against the euro and the dollar.
According to the announcement, BitStamp’s global customers will have access to both AVAX and wBTC. However, the United States and Singapore markets will not have access to this service. Furthermore, the exchange will only take incoming tokens during the initial phase of the listing. Both tokens will be in a post-only status on March 11th.
Read more 👇https://t.co/n4Y9g5WpGV
— Bitstamp (@Bitstamp) March 7, 2022
2) Avalanche Launches Incentive Program
The Avalanche Foundation recently launched the Avalanche Multiverse. This launch is a $290 million incentive program that will boost the acceptance and expansion of Avalanche’s subnet. The subnet allows for a large network of scalable app-specific blockchains.
For a start, the program will provide coverage for several communities, including DeFi, NFTs, and blockchain gaming. Also, the Avalanche Multiverse is a different initiative from its ongoing Avalanche Rush. DeFi Kingdoms, a renowned Avalanche-based game, is one of the first targets of the Multiverse program. Other participants include Jump Crypto, Aave, Valkyrie, and Securitize.
Introducing Avalanche Multiverse, an up to $290M incentive program focused on accelerating the adoption and growth of Subnets. Multiverse is focused on supporting new ecosystems, including blockchain-enabled gaming, DeFi, NFTs and institutional use cases. https://t.co/R5euxSV5hx pic.twitter.com/PHpET78P6L
— Avalanche 🔺 (@avalancheavax) March 8, 2022
3) GraphLinq Partners With Avalanche
GraphLinq is a unique no-code platform. It enables users to execute crypto-related on-chain and off-chain tasks without coding experience. The platform partnered with Avalanche’s network to expand its community. Avalanche offers DeFi applications the opportunity to attain a sufficient level of decentralization at scale.
According to the annoucement, GraphLinq included basic logical blocks for Avalanche components in the GraphLinq IDE. As a result, users can now design their first smart workflow by leveraging Avalanche’s components.
#GraphLinq Announces Partnership With @avalancheavax for enabling the community to build on top of or using #Avalanche using our IDE (https://t.co/9hkxR9ZnpV). Read more: https://t.co/KJOUedOJGGhttps://t.co/lYEUCCmiUg
Spread the word 🙌#GLQ #Nocode #DeFi #Bloomberg #Nasdaq
— GraphLinq Protocol (@graphlinq_proto) March 7, 2022
4) Shrapnel to Launch on Avalanche
Shrapnel recently announced plans to launch its game on Avalanche. Also, Shrapnel brands itself as the first blockchain-based AAA first-person shooter game. Shrapnel hopes to leverage Avalanche’s features to provide a new gaming experience. The platform recently completed a successful fundraising round, garnering $10.5 million from top investors. Also, investors like Griffin Gaming Partners, Polychain Capital, and Forte all took part in the seed funding round.
Ed Chang, Director of Gaming at Ava Labs, expressed excitement over the launch of the new gaming platform. Chang noted that the launch would demonstrate Avalanche’s unrivaled features. It would showcase why Avalanche is the ideal platform for gaming projects.
Shrapnel x @Avalancheavax
"Choosing Avalanche, with its blazingly fast, low cost, and eco-friendly network, was a no-brainer for our team."
— Shrapnel (@playSHRAPNEL) March 3, 2022
5) Top 3 Avalanche Projects by TVL
The competition between DeFi projects on Avalanche’s network is intense. However, some projects seem to enjoy more engagement than others. According to a tweet from Axax News, Aave is currently the top Avalanche project in terms of its TVL. Also, the platform had about $3.19b in its TVL. Trader Joe clinched the second spot with $1.49b. Finally, Curve Finance ranked third with $1.19b.
— Avax News 🔺 (@Avax_News) March 4, 2022
Finally, the TVL (total value locked) refers to the overall value of crypto assets placed on a DeFi platform. It has become an important statistic for evaluating users’ interest in a project or protocol. We hope you enjoyed this week’s updates.
As of this writing, AVAX trades at $72.92. Furthermore, it has a 24-hour trading volume of $1,413,287,738. Avalanche is down 7.07% in the last 24 hours.
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