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.

These metrics are based on a 7-day time frame, unless noted otherwise. 

🔺What we’re watching: Avalanche’s startup incubator, Codebase, is launching it’s Season 3 to help a new cohort of founders build innovative web3 projects on its network. 

Applications for Season 3 are open till March 1, 2024, apply here.

🔺Why it matters: The program aims to provide support to builders in the cohort globally  by giving them exclusive experiences to create their innovative ideas on Avalanche and be supported by the Ava Labs team.

Although Codebase provides teams with $50,000 in funding, it also aims to provide these early-stage startups tools and resources to succeed. It also brings in guidance from Ava Labs coaches and industry leaders such as the Co-Founder of Benqi, Hansen Niu, the Head of Growth at Lens and Aave, Christina Beltramin, the Co-Founder of GoGoPool, Steven Gates and more.

The cohort is able to leverage the network's developer tools and performance capabilities to build real world applications of blockchain. By the end of the program, teams launch testnets with a product released on Avalanche. 

Taking a trip down the recent memory lane, Season 2 had three winners, that built innovative projects in a variety of categories, as detailed below: 

These projects bring new users and use cases to Avalanche and can attract more builders and users to Avalanche, creating a stronger network effect.

While Codebase isn’t limited to a specific type of project, it wants to tap into “existing industry opportunities” and work with founders who are“ dedicated to expanding blockchain use through real-world applications, asset tokenization, and web3-native solutions,” according to its website.

🔺The bigger picture:  Avalanche actively supports builders through a number of programs and initiatives. The network has a commitment to innovation with this incubator, alongside other fundraising opportunities and activations for builders. Recently, Avalanche’s infraBUIDL(AI) Program announced a partnership with Aethir’s $100M ecosystem fund as well as the Quadratic Funding Round with Gitcoin for DeFi and AI projects. The support from the foundation, Ava Labs team and ecosystem helps builders focus on innovation and ultimately, grow the network.

With the recent network upgrade of Avalanche9000, it has become easier to launch an Avalanche L1 with lower barrier to entry with about 99% reduction in costs to deploy. Validators can now pay monthly fees instead of needing to stake 2000 AVAX, or approximately $55,320. The different L1s also can participate in interchain messaging to interoperate with one another, unifying users and liquidity.

These network changes, combined with Codebase's continued evolution and scale, show Avalanche's focus on helping developers succeed. Each new project and upgrade can make the network stronger. As more builders join and create useful products, Avalanche will continue to grow as a platform for practical blockchain solutions.

Distribution of L1s by category. Source: Snowpeer

Note: Avalanche’s subnets have been renamed to Avalanche L1s as of July 29. 

Here’s Avalanche-based articles that made headlines this week. 

Check out the Avalanche blog for more updates. 

Want to dive deeper into Avalanche? 

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.