The Avalanche Snow Report: October 2023

Your October roundup of highlights from across the Avalanche ecosystem is here!

This issue: Thousands of Developers Enroll in Avalanche Academy, Messari’s Q3 Report Highlights Avalanche Growth, Debating The Relationship Between Avalanche’s Primary Network & Subnets, and more.

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Network Highlights

More Than 2100 Devs Enrolled in Avalanche Academy

Many developers have enrolled in Avalanche Academy to learn about Avalanche Consensus, Subnets and Precompiles. There are plenty of additional courses in the works and soon the academy will release the course on Teleporter, Avalanche’s native cross-Subnet communication protocol.

Patrick O’Grady (Ava Labs VP of Engineering) on the Path to 100k Subnets

Over the last few months, discussions have been brewing around how to make Subnets even more attractive to developers (especially new startups/ecosystems just getting started).

Patrick O’Grady and other prominent team/community members have suggested that the most impactful change to consider right now is overhauling the relationship between Subnets/Subnet Validators and the Primary Network, which currently requires subnet validators to first stake at least 2000 AVAX to the Primary Network. Read Patrick's Draft Proposal for rethinking the subnet validator requirements and contribute to the discussion here.

DeFi

Lido’s wstETH Is Now Available on Avalanche

stETH (wstETH) is the largest ETH liquid staking derivative, with over $15b in total TVL. LayerZero has converted the wrapped version of stETH to an omni-chain token (OFT), making it available to Avalanche users and the entire Avalanche ecosystem. Learn more here.

VNX Deploys New CHF and EUR Stablecoins on Avalanche

VCHF and VEUR are now available on Avalanche with active liquidity and incentives on Balancer and Xave. This will enable better accessibility for european users and boost the growing on-chain FX ecosystem on Avalanche. Learn more here.

More DeFi Highlights

• New blog post covering the opportunity for on-chain FX & non-USD stablecoins
• Trader Joe enables rewards for EURC liquidity providers
• Dexalot hits 25 million transactions on their subnet
• Baki (Canza Finance) launches on C-Chain, bringing EM currency synthetics

Enterprise & Institutional

Avalanche Leads in Bridging Traditional Assets to Crypto: Messari Q3 Report

In its Crypto Q3 Report, leading crypto data analyst firm Messari highlights Avalanche as a leading technology powering the integration of traditional assets with blockchain. The report features the Q1 launch of Spruce and Evergreen Subnets with KYC/AML options and partnerships with early adopters like Wellington and T.Rowe, emphasizing Avalanche’s innovation. It spotlights the Avalanche Vista program and Avalanche’s role in Securitize’s project, tokenizing a European security linked to Spanish real estate trust Mancipi Partners, showcasing its built-in regulatory capability. Read the full report here.

Ava Labs Featured in Reuters Spotlight on Asset Tokenization

Reuters covers how the market for tokenization – issuing blockchain-based digital tokens that represent assets from bonds to stocks, real estate and more – may finally be reaching a critical mass. Morgan Krupetsky, BD Director for Institutions & Capital Markets at Ava Labs highlights the significance of this wave stating “This time is different, largely because now we’re witnessing senior-level buy-in from large firms". Read the full article here.

More Enterprise & Institutions Highlights

• Catch up on the latest Tokenization 101 blog: Beneath the Surface – The Infrastructure Driving Tokenization Forward
• Check out the latest Money Moves blog and audio content, with the most recent episode delving into the buy-side of tokenization, featuring BlockTower, Artory/Winston, and other key players.
• Luke Chmiel joined The Tie for an insightful discussion on how tokenization is reshaping the insurance market, alongside pioneering companies Re and Cerchia
• Morgan Krupetsky participated in a panel discussion at STM’s TokenizeThis conference, exploring the adoption of OCA into blockchain alongside fellow representatives from different L1’s
• Check out the recap of the Permissionless panel with John Wu, President at Ava Labs and Matt Hougan, CIO at Bitwise on institutional blockchain adoption

Gaming

T1 Partnership With Avalanche Using SK Planet’s Subnet

One of the world's most popular Esports teams, T1, announced they are dropping League of Legends collectibles, membership discounts, and free food and drink at T1 fan events. Learn more here.

Gaming on Avax is the Official Sponsor of Gamified Host by Sam Steffanina

Well known podcast host Sam Steffanina discusses all aspects of using blockchain technology within the gaming industry and features a variety of stakeholders including experts, developers, and gamers. They share insights on the trends, innovations, challenges, and updates prevalent in the Web3 gaming world. Tune in every Wednesday at 8pm UTC.

More Gaming Highlights

• Shrapnel closes $20 million Series A funding round as early release approaches
• Merit Circle announces their gaming subnet Beam is live during their first keynote
• Megaweapon completes its migration to Avalanche and highlights their future plans
• Providence offers the community the opportunity to playtest the game
• MetaDOS displays sneak peeks from their closed beta
• Shrapnel announces early release extraction packs are now available

NFTs & Culture

Avalanche Launches NFT Incentive Program with Hyperspace

In collaboration with NFT marketplace Hyperspace, Avalanche is launching an ambitious multi-million $AVAX NFT incentive program. Hyperspace recently announced its innovative Rewards Program, which has already seen 15k+ user sign ups in its first week.

Through this new incentive program, qualifying users will be able to earn Hyperspace Points by trading NFTs on the platform and onboarding others. These points will be redeemable at a later date for Avalanche's native token, $AVAX. Learn more about the program here.

Messari Crypto Q3 Report Spotlights Avalanche NFT Growth

In addition to highlighting Avalanche’s enterprise and institutional developments within Web3, the Messari Crypto Q3 report reveals strong growth in the Avalanche NFT vertical. The report states that Avalanche is experiencing its “highest NFT sales in over a year” with the second consecutive quarter of rising NFT sales. Read the full report here.

More NFTs & Culture Highlights

• ArtOnAvax launched a new weekly X Spaces show featuring Ed Zipco of Super Chief Gallery to discuss the latest NFT news and interview emerging artists in the space
• ATX DAO announced an Artist Residency program, supporting local Austin area artists with education, promotion, and funding
• The Cozyverse, creators of the popular Ethereum NFT project Cozy Penguins, are expanding to Avalanche
• Blockticity, a blockchain-based product certification system, is using Avalanche NFTs to fight the nearly $4.5T of counterfeit goods in the market annually
• Art on Avalanche hosted a digital art competition, partnering with the winning artist to offer their design on official Avalanche merchandise

Infrastructure & Enablement

OpenZeppelin Defender is Live on Avalanche

Integrated directly into the developer workflow, Defender 2.0 provides a powerful set of features that aims to make it easier and faster for builders to prevent and fix security issues. Users of OpenZeppelin Defender can now code, audit, deploy, monitor, and operate blockchain applications with confidence on Avalanche. Learn more here.

Flipside integrates Subnet data through LiveQuery

LiveQuery allows on-chain analysts to combine databases from both on- and off-chain sources, and in turn query Flipside data side-by-side with any API or integrated database. With Avalanche Subnets now integrated, the entire Avalanche ecosystem has been added, and Flipside analysts can build analytics, tools, and dashboards for any project on Avalanche. To access the data yourself, install the free Avalanche Subnets integration for LiveQuery.

More Infrastructure & Enablement Highlights

• Blockworks Research now supports Analytics on Avalanche
• Introducing AvalancheOps, the easiest way to spin up Developer Networks (Devnets) on Avalanche with a custom VM
• Chainlink expands suite of services on Avalanche with Automation 2.0 & Functions 1.0
• The new Avalanche App is now available for Ledger, bringing a reduction in size of the app, allowing users to download multiple small apps on smaller device

ICYMI: Avalanche Sessions

• Ava Labs CEO Emin Gün Sirer hosted an AMA on Reddit
• Stream the Avalanche Developer Community Call, featuring: Avalanche Community Proposals, Parallel Transaction Execution, Concurrent Message Handling, and Warp Payload Types
• Luigi D’Onorio Demo joined the Still Early Podcast to discuss to discuss Subnets vs L2s, the SocialFi boom, off-chain assets, and more
• The Block: Ava Labs bets on India for Avalanche growth, with key new hires
• Listen to Wee Ming Choon's panel on asset tokenization at the Blockchain For Europe Summit 2023
• Reflexivity Research recapped a strong Q3 for the Avalanche ecosystem
• The Ava Labs DevRel team was in Istanbul for the Cosmoverse conference
• The latest Systems Seminar highlights fhEVM and how Zama utilizes open-source full homomorphic encryption to bring FHE to EVM smart contract deployment

This newsletter is for informational purposes only, and is not intended to provide, and should not be relied on for tax, legal, investment, financial or other advice. Any references to third party platforms or projects is not an endorsement by the Avalanche Foundation Limited, Ava Labs, Inc. or any of their respective affiliates or subsidiaries. The information contained in this newsletter is current as of the date hereof and is subject to change without notification.?Please review this Important Notice.

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