June is coming, bringing news about Subnet, NFT, and DeFi, creating very exciting feelings in the Avalanche ecosystem. This month, we have news such as “Avalanche launched a tool for developers to launch subnets,” “Avalanche Subnet Tutorial Contest” with a total prize pool of $32,000 USD, and “Platypus launched Factory Pool Stablecoin”. So let’s take a closer look at some of those notable events in today’s article.
Avalanche Panorama Week 23
Here, we will provide you with our insight from 6th to 12th June.
Highlight Events In June
- The recently launched Avalanche-CLI makes it easy and fast for any developer to launch a subnet. Avalanche presents it as an “all-in-one” tool for launching validators and building subnets on Avalanche with the utmost ease. With the goal of providing a simple and easy tool for gas fee customization, token selection, and EVM language integration, the Avalanche Foundation also said that this is only the beginning of their subnet development, but this toolkit is how they will reach out to developers from the traditional field through the blockchain environment.
- Ava Labs has launched the “Avalanche Subnet Tutorial Contest” with a prize pool of $32,000 to invite the best developers worldwide to participate in the tutorial on how to launch a Subnet. Through this competition, Ava Labs aims to expend resources on technology and for projects that want to run Subnet. Ava Labs will also select 5 to 10 winning guides and add them to the Avalanche whitepaper.
- Nansen announced that the website platform now supports tracking NFT overview parameters such as NFT Market Trends, Market Overview & Mint Master, NFT God Mode, and NFT Item Profiler of Avalanche C-chain. Much of this information is available for free to Nanse Lite subscribers. These parameters will assist NFT investors in making decisions and seeking investment opportunities before investing in Avalanche-based NFT projects. You can find more information over here.
- Avalanche will become a Gold Sponsor for the Encode x ATX DAO Austin Hackathon, which will take place from June 10 to June 12, 2022. Encode x ATX DAO is a cross-chain web3 hackathon held at the University of Texas, one of the most prestigious universities in the United States. With the participation of well-known blockchain industry leaders: Solana, Avalanche, Near, Algorand, Curve, Octopus, etc.
- Chainlink Keepers and Chainlink VRF now support Avalanche. Chainlink Keepers is a decentralized transaction automation service that allows developers to use custom triggers to automate any smart contract functionality. Keepers will connect parties with tasks and parties who want to receive tasks for each other by allowing a Defi platform to outsource some tasks off-chain.
Keepers applications include:
- Yield Harvesting and Compounding
- Rebasing and Rebalancing of Tokens
- Starting and Stopping Games or Rounds
- Liquidity Management
- On-Chain Interest Rate Updates
- DEX Limit Orders
- Cross-Chain NFT Minting
- Dynamic NFTs
- Automated Trading Strategies
- DAO Automation
Chainlink VRF is a verifiable and fair form of random number generation that allows the creation of smart contracts of random value, the results of which will be encrypted and put on the blockchain to ensure transparency and fairness. Applications of VRF:
- Pairing/opening cards/random order
- Breeding items with different properties and quantities
- Create challenges and unexpected events
Potluck Protocol 1 defi 3 AMM/ NFT development projects and Yield also just announced to become the first project to integrate Chainlink VRF for the NFT Bot Boy project | Bot Squad – 1 incubator project of this project. https://twitter.com/avalancheavax/status/1534930792421408768
Many outstanding project milestones have been recorded over the past week on Avalanche’s DeFi ecosystem, and the main Avax network is also growing day by day; let’s take a look at these numbers.
- Yeti Finance officially announced at the end of April that it will become an AAVE strategic partner, allowing AAVE users to deposit tokens to receive aWAVAX, aETH, aUSDC, aUSDT, aDAI assets and use them to borrow money. YUSD with 0% interest and as low as 105% collateral. After 2 months of cooperation, last week Yeti recorded more than 17.5 million aUSDT from Aave users deposited into Yeti Finance protocol.
- Yeti Finance reported more than $300 million in liquidity from BenQi this week, with sAVAX accounting for the largest ($77 million). We can see from the two events mentioned above that Yeti Finance’s vision is to diversify the assets in the protocol so that users have more options, as well as to provide a deep source of liquidity to ensure the best user experience. The protocol does not experience interruptions due to liquidity gaps.
- Crabada has burned over 171 million TUS tokens worth $171K in in-game activity fees. The amount of TUS tokens burned has been steadily increasing recently, reaching an all-time high of $157,833 on May 20th, especially after Crabada launched the Swimmer Network Subnet and the Battle Game mode launch. By integrating the game on iOS and Android platforms, the project has attracted more users. Since then, in-game activities have grown increasingly exciting, leading to players exchanging items and buying or selling on the Subnet.
- The number of wallets accumulated on C-chain has nearly reached the 3 million mark, an increase of nearly 26 percent in the last three months.
Despite the fact that the overall market is tough and unpredictable right now, Avalanche’s on-chain metrics are growing steadily.Furthermore, the number of funding rounds for projects on the Avalanche ecosystem is quite impressive.
The most recent is Liminal with $4.7M, and the program to support projects Avalanche, Time Shuffle $2.1M, or Shrapnel with $17.5M,… and a series of those capital calls are summarized in the graphic you can refer to to find potential projects during this period.
Let’s welcome newcomers who will challenge the bear market and put Avalanche to higher height.
- Platypus Finance announced that it has successfully launched Factory Pool Stablecoin, Factory Pool will include three stablecoins TSU (stablecoin of Teddy protocol), MONEY (stablecoin of Moremoney protocol), H2O (stablecoin of Defrost Finance). For those of you who are not familiar with the mechanism of protecting users from losing pegs, Platypus has created three stablecoin pools on its protocol. Those three pools are: Main Pool, Alternative Pool and Factory Pool, respectively. Each pool will contain stablecoins ranked from high to low risk in the following order: Main Pool, Alternative Pool, and Factory Pool. And when a stablecoin depreciates, users can swap to other stablecoins to ensure they don’t lose too much. And what’s more, if the price of a stablecoin fluctuates too much, Oracle will appear and suspend trading for that stablecoin. It is also why, when UST lost the Platypus peg, it was unaffected by the event.
- The CEO of Trader Joe, CryptoFish, announced on Twitter that Trader Joe V2 will be released soon with many new features. The TraderJoe development team’s goal is to make the protocol the top DEX on DeFi, surpassing Uniswap. And while some FUD claims that Trader Joe V2 is simply a folk version of Uniswap V3, Trader Joe has confirmed that there will not be a folk version of Uniswap V3 here. The features will be even superior than in Uniswap V3. Let’s look forward to Trader Joe V3 in the near future.
$MONEY, a Moremoney protocol stablecoin, has joined Factory Pool on Platypus Finance. According to Platypus’ official announcement, Moremoney’s stablecoin MONEY will be rewarded for participating in farming. Details will be announced soon, and I will keep you updated as soon as there is information about the program.
- Yeti Finance expands its cooperation with projects on Avalanche in order to broaden YUSD coverage and diversify YUSD collateral. After the announcement of its collaboration with Platypus, Yeti Finance collaborated with Vector Finance on June 9 to increase the Yield Pool YUSD-USDC on Vector. Yeti Finance spends up to 200,000 YETI as a reward for the pool and users will receive 3 types of rewards: VTX, PTP, YETI if they provide liquidity to the YUSD-USDC pool. The program will last 4 weeks (May 24, 2022 – June 21, 2022). Yeti has also added 2 new types of collateral from BENQI, sAVAX and qiAVAX, now it is possible to farm AVAX on BENQI, then use sAVAX as collateral, borrow YUSD and continue farming.
- Yield Yak recently announced the launch of the yyAVAX token, a new Avalanche liquid staking token. yyAVAX initially had a total supply of 100,000 and was minted at a 1:1 ratio from AVAX. yyAVAX is a yield-bearing token; holders will receive yield from staking rewards and revenue from running P-Chain nodes. Users can also provide liquidity for the yyAVAX-AVAX pair and stake LP to receive a 5% yield from yyAVAX.
- BooFinance launched the first Vampire Attack on the Avalanche Ecosystem with the DEX leader in the system being Trader Joe
*Vampire Attack refers to the activity that a later platform has different incentive strategies in place to encourage liquidity providers on older platforms to transfer their liquidity to that later platform
- Step.App’s shoe #Lootbox2 collection was also open for sale with 75,342 participants staking $FITFI amount of $163M total number of Drop Tickets winners of 6,723. Interested parties can currently join Step App staking | Staking here with a minimum of 5000 $FITFI for the #Lootbox3 collection. Furthermore, the project has launched an in-game $KCAL token that will be distributed based on a fair distribution strategy from FAT Point accumulation. For those of you who are unaware, FAT Point is a cumulative point. When you connect your wallet early to the platform, you will receive 5 FAT Points every day and 3 FAT Points for each referral.
- There will be no transactions because $KCAL will not be minted; the value of $KCAL is used to:
1. Minting: NFT shoes can only be minted with KCAL tokens.
2. Make money: Run NFT shoes to earn KCAL.
3. Staking: All NFT Shoes must be staking to earn KCAL.
- On 6/6, the NFT MadSkullz Collection launched a 6666 NFT sale on mint.madskullz.io. To date, 3176 NFTs have been minted at a price of 2 AVAX; additionally, the project reduces 0.1 AVAX for each additional minted NFT and is currently trading top trending on Kalao Marketplace with prices ranging from 2 AVAX to 6.5 AVAX. Previously, a collection of 500 BabySkull NFTs sold out in 3 hours for the price of minting 2 AVAX, with benefits for holders such as 10 AVAX airdrops per week, buying MadSkullz NFTs at a discount of 1.8 AVAX for 1 NFT, and so on.
- Avalanche recently retweeted the nickelodeon nft project about how users in the Avalanche ecosystem will soon be able to access the project’s NFT on the Recur platform. Currently, the project has not announced the official website or any information about the project, so you can track more information by joining Discord: RECUR (discord.com).
- Doodleverse, a collection of eyes with 79 NFTs being traded at an open price of up to 40 AVAX, is a very hot collection that is at the top 1 trending on Kalao and Joepegs. This is an NFT collection by TapTapKaboom, who was previously very successful with Chikn, an NFT collection that is currently #1 on Avalanche.
- Castle Crush announced that it has sold out of 11,000 Ascended chests for 3.5 AVAX and 3800 Founders chests for 35 AVAX; the remaining NFTs will be sold during the Public Sale on June 13-16. Castle Crush is really creating a fever for the Gamefi market on Avalanche when user demand increases, causing the publisher to increase the number of NFT Ascended sales from 10,000 to 15,000 and Founders Chests from 3,000 to 4,000. In the last week, Castle Crush has also announced collaboration with a number of major game guilds, including YGG SEA, Ola Guild Games, and others. This strategy is essential to increasing the number of players and spreading the game in the community in the near future as an incentive scholarship
- Besides that, Shrapnel with a community of 23,000 followers has also started opening NFTs with 4 rarity levels (Common, Rare, Epic and Legendary) on Opesea for 0.05 ETH and the first collection for 2,000 NFT “ANIKI” was opened on June 9 and sold out on June 10. Next time the remaining 4 sets with the quantity of 2000 NFT/set will also be available for sale from time to time: “M” – 16 June 6, “HASSAN” – June 23, “ALYXANDRA” – June 30, “ALEK” – June 7. The project will also have representatives participating in the Coindesk Consensus event, which you can follow in the coming days.
- Heroes of NFT – card game on Avalanche also announced the launch of a testnet for the game on its own Subnet, with three winners receiving a Legendary card for a 10-day period. You can experience the test game by visiting https://faucet.heroesofnft.com claim tokens (1000 HRM and 6000 HON) Because these tokens are only for the testnet, they have no real value for later trading. Then go to https://test-app.heroesofnft.com/ to collect NFTs (minimum 5 NFTs worth 2700 HON for 1 match) and join the game. Each match will last 4 hours, and you will receive 3 tokens at the end of each one. Accumulate and play strategically to win prizes in a contest to win 1 Legendary card.
An overview of activities of projects that have launched Subnet on Avalanche
Many projects have announced or mentioned that they will develop their own Subnet as soon as possible in the last week. A list of potential projects that will develop Subnet in the near future can be found below.
The article above summarizes the major Avalanche ecosystem events of week 23. In the near future, projects that will launch Subnet or integrate Chainlink VRF & Keeper will be extremely hot topics, and particularly outstanding games on the system are also organizing activities that attract a lot of users to contribute. And this is the component that keeps the Avalanche ecosystem vibrant.
You can keep up with other outstanding games like Time Shuffle, Domi Online, Ascenders, Metaoasis, MetaDerby, and so on. There will also be many events in the near future. For more information, visit Avaxholic’s website or follow us on Twitter.
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