Welcome to the Avalanche Weekly Overview. A one-stop-shop for the AVAX community to get up to speed on the Avalanche blockchain network’s latest updates, metrics, releases, insights, ecosystem developments and more. All in one place.
Avalanche by the numbers
AVAX token price: $32.44 (+0.8%)
Network’s total transactions: 7.45M
Avalanche C-Chain daily txns: 255.56K (+8.83%)
DeFiLlama’s Avalanche TVL: $895M (-10.3%)
BENQI: $336.6M (-12.12%)
Aave: $299.89M (-5.5%)
Trader Joe: $188.18M (-2.5%)
These metrics are based on a 7-day time frame, unless noted otherwise.
Inside the network
🔺What we’re watching: AR platform Really has distributed over 250,000 proof-of-attendances (POAs) to moviegoers since the beginning of 2024.
🔺Why it matters: In December 2023, the platform announced its partnership with Avalanche to power its POA “Fandime,” which are tokens unique to the Really. Since its launch, it has distributed Fandimes to over 1250,000 unique collectors. This metric is not an easy feat, given that it usually takes a while to onboard any user, especially those that are not web3-native.
But, Really CEO James Andrew Felts said that web3 is “rapidly evolving” and interconnecting with the transfer and sharing of user-generated data. This means the platform will be able to explore new opportunities on helping users manage and engage with entertainment, through its Avalanche Subnet, he added. Its Subnet is designed to handle higher user activity and scale during times of high demand. For example, it won’t crash during a busy Friday night premiere at the movie theater.
As of today, May 1, movie fans who download the Really AR app can claim POA Fandimes for any movie at any theater in the US. The company plans to expand this offering to Asia Pacific region and others this summer.
🔺TLDR: After the Coachella Quests powered by Avalanche and its partnership with Really, the network’s recent moves are proving it to be a strong move in bringing real world experiences to web3 and non-web3 audiences. All in all, providing web3 capabilities with real-world utilities can help traditional businesses and technical businesses alike better engage with their userbases.
Scaling the ecosystem
DeFi Kingdoms: 3.5M (-12.4%)
Beam: 79.6K (-8.4%)
Tiltyard: 58.3K (+2.8%)
Join Ava Labs, Chainlink, and BENQI on an X Spaces May 1 at 1:30PM EST
Myna, a collectibles marketplace, has partnered with Avalanche to allow for earnings to be withdrawn via bank account or through an Avalanche wallet
SocialFi app The Arena will be a partner to help Stripe’s fiat-to-crypto onramp to Avalanche
Active subnets: 41
Subnet validators: 266
Total validators: 1,695
Total blockchains created in the Avalanche network: 91
Total staked across Subnets: 529,668 AVAX
Distribution of subnets by category. Source: Snowpeer
AVAX community wins
Solana co-founder Raj Gokal shares what he likes about Avalanche on stage at Token2049
🎧Listen in: 0xResearch podcast discusses the Avalanche 100K TPS breakthrough
🎧Listen in: Lightspeed podcast dives into Avalanche and the path to 100k subnets
Avalanche Gaming discusses how web3 can add value to games like F2F mobile game Fableborne
ICYMI: Avalanche has about 200m $BTC.b liquidity on C-Chain, X user CaesarJulius0 shared (chart below)
Avalanche Archives
Here’s Avalanche-based articles that made headlines this week.
New Avalanche Consensus Paper on Frosty: Bringing Strong Liveness Guarantees to the Snow Family of Consensus Protocols (Ava Labs Engineering Team)
More coverage on the Stripe x Avalanche announcement:
Join in the fun
Want to dive into Avalanche full-time? Find the latest Ava Labs job postings here or join an event below:
Going to Consensus in Austin? RSVP to the Codebase Demo Day on May 30
Check out Core’s Discover Event page for ongoing conferences, hackathons and more
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This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.