Avalanche announces Retro9000, a $40M grant program for community builders
Avalanche Weekly Overview - October 2, 2024
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.
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Avalanche by the numbers
AVAX token price: $26.28 (-4.85%)
Max transactions per second: 421 (+3.95%)
Network’s total transactions: 10.53M (+1.06%)
Avalanche C-Chain daily txns: 192.4K (23.49%)
DeFiLlama’s Avalanche TVL: $969.87M (-3.01%)
Top 3 Avalanche DeFi projects by TVL:
Aave: $351.1M (-0.91%)
Trader Joe: $101.98M (+0.36%)
DELTA PRIME: $48.02M (-2.45%)
These metrics are based on a 7-day time frame, unless noted otherwise.
Inside the network
🔺What we’re watching: Avalanche announced Retro9000, a $40 million grant program for builders on the network.
🔺Why it matters: Retro9000 is aimed at developers building on the Avalanche network, specifically for its Avalanche9000 users.
This grant program will directly support the Avalanche9000 upgrade by providing developers access to build on the network during its testnet phase. This in turn could reduce the cost and complexity of deploying projects onchain, which can lead to more network scalability and composability enhancements.
The program can also foster community engagement, as developers are incentivized to build publicly, garner support, and improve their ranking on the leaderboard. Retro9000 can accelerate the growth and adoption of Avalanche by rewarding developers to create critical tools and infrastructure for the ecosystem.
If this program can lower the financial and technical barriers for developers, it can enable more businesses and developers to experiment, deploy, and grow. Developers would also be able to innovate and build on Avalanche's robust infrastructure in a cost-efficient and permissionless environment.
🔺The bigger picture: The Avalanche9000 upgrade, and specifically the Retro9000 program, can reflect a broader push to make Avalanche’s blockchain development more accessible and scalable. This can lead to solving economic and logistical challenges that have historically hindered innovation for developers in space.
As businesses and developers gain the ability to deploy interoperable layer-1 blockchains (L1) at a fraction of the cost, the Avalanche ecosystem can grow more rapidly. This could cause an increase of innovation and adoption in the blockchain space, which in turn would foster an interconnected network of L1s that share resources and drive network effects through interoperability.
The program's emphasis on community participation and transparent building practices could also set new standards for decentralized development, empowering builders to collaborate more closely with their communities.
Together, Retro9000 and Avalanche9000 look to lay the groundwork for a more scalable and interoperable blockchain landscape. This can lead to encouraging decentralized innovation and adoption, faster development, and better community support.
Scaling the ecosystem
Top 3 Avalanche games by 7-day total txns:
Defi Kingdoms: 4.71M (-2.0%)
Shrapnel: 171.9K (+1.7%)
Tiltyard: 44.8K (-2.08%)
Dexalot, a DEX built on the Avalanche network, hit $45.09M in daily trading volume on Sept. 30
Forgotten Playland announced its web3 game, built on the Beam L1, will release on the Epic Games Store in November
Avalanche L1 GUNZ hit 2.7M daily transactions on Sept. 28, an all-time high for the network (shown below)
Source: GUNZ scan
Active L1s: 39
L1 validators: 268
Total L1 validators: 1,440
Total blockchains created in the Avalanche network: 106
Total staked across Subnets: 539,184 AVAX
Distribution of L1s by category. Source: Snowpeer
AVAX community wins
Check out Spellborne gameplay video by X user s4ndbu
LFJ, the DEX formerly known as Trader Joe, shared info about its community contributor program
Want to learn more about DCG Legends and what it’s building on the Avalanche network? Check out this thread by X user puneeth_sgr
Avalanche Archives
Here’s Avalanche-based articles that made headlines this week.
Avalanche Unveils $40M Grant Program Ahead of 'Avalanche9000' Upgrade (CoinDesk)
Avalanche9000 Upgrade Incoming - John Nahas Interview (Paul Barron Network on Youtube)
Check out the Avalanche blog for more updates.
Join in the fun
Want to dive deeper into Avalanche?
Join the community at Avalanche Summit III in Buenos Aires, Argentina from Oct. 16-19.
And check out some of the side events going on during the summit:
L1 Day hosted by Chorus One on Oct. 15
Avalanche Summit LATAM Hackathon - a two day hackathon presented by Ava Labs
Community hosted golf tournament Avalanche Summit Open
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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.