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.
New here? Subscribe here to get updates to your inbox. Every Wednesday.
Avalanche by the numbers
AVAX token price: $29.70 (-17.50%)
Max transactions per second: 319 (-16.49%)
Network’s total transactions: 7.39M (+2.50%)
Avalanche C-Chain daily txns: 150.74K (-5.12%)
DeFiLlama’s Avalanche TVL: $795.93M (-12.52%)
BENQI: $329.53M (-7.31%)
Aave: $304.88M (-5.25%)
Trader Joe: $117.96M (-18.68%)
These metrics are based on a 7-day time frame, unless noted otherwise.
Inside the network
🔺What we’re watching: Last month, Avalanche opened up the ACP-77 proposal for feedback, a new validator type with the goal of lowering the cost for launching and operating Avalanche-based blockchains, or subnets. It also aims to maintain structural integrity as a more cost effective way compared to Ethereum based rollups.
🔺Why it matters: With the introduction of ACP-77, launching and maintaining a subnet could be cheaper and easier via its Avalanche Warp Messaging (AWM). This move progresses the Avalanche network in an effort to make it more attractive to build on its chain. The potential costs could be cheap and comparable with the layer-1 blockchain (L1) Celestia’s low rollup costs, which can be as little as 20 cents per megabyte (MB).
Transaction fees and service fees have always been a talking point for consumers and developers using blockchain technology. Previously, the cost for a prospective subnet validator could cost and require you to stake 2,000 $AVAX, worth about $60,000 at the time of publication.
However, with the introduction of ACP-77, along with AWM, it aims to make building on Avalanche cheaper, with payments for monthly registration costs to be a fraction of what they were. Moving forward, operating costs will only require a minimum base fee of ~$80/month in comparison to ~$250/month that was in place before ACP-77. (chart below)
🔺TLDR: The Avalanche community is getting a proposal for a structural change to how subnets are launched and operated, with the goal of lowering costs for subnet usage and becoming a more cost-efficient network to build on.
Scaling the ecosystem
DeFi Kingdoms: 3.33M (+1.50%)
Shrapnel: 174.9K (+4.20%)
Tiltyard: 94.6K (+12.17%)
Core integrates Blockaid, a security layer integration that scans every Core transaction against a threat database
BloodLoop, the 5v5 tactical hero-shooter on Avalanche, launch their native token $BLS
Shrapnel launched the public beta for Lunatics, a strategy game built by the Play Alchemy team
Active subnets: 44
Subnet validators: 293
Total validators: 1,591
Total blockchains created in the Avalanche network: 96
Total staked across Subnets: 578,671 AVAX
Distribution of subnets by category. Source: Snowpeer
AVAX community wins
ICYMI: Deep dive into NFT projects building on Avalanche
RipDAO, an initiative pushing culture and art on Avalanche, launch its website
The Avalanche Foundation partnered with Test Machine to enhance smart contract and security
Listen to Blockworks Research X space on ACP-77 and its future plans
Avalanche Archives
Here’s Avalanche-based articles that made headlines this week.
Clearpool Expands to Avalanche with Exclusive Launch of Credit Vaults (Avalanche blog)
Avalanche Core wallet gets Blockaid security integration (Cointelegraph)
Oasis Pro and Rise & Shine Partners to Launch Fund to Boost Investments in Avalanche Blockchain (DeFi Planet)
Check out the Avalanche blog for more updates.
Join in the fun
Want to dive deeper into Avalanche? Find the latest Ava Labs job postings here
Meet up with the Avalanche community in Malaysia for Avalanche Trivia Night, June 19
Join the Avalanche developer community for their Hack House during EthCC, July 10
Join Avaissance to learn more about how fashion is evolving in a digital world
Learn how to build on Avalanche and the benefits of customized L1s via Avalanche Academy
To get this newsletter delivered to your inbox every Wednesday, subscribe here.
This product was built by Token Relations.
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.