Welcome to the Avalanche Weekly Overview. In this edition, we explore Broadridge bringing Galaxy Digital shares onchain, user activity growth, and new trading protocols.
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Avalanche By The Numbers
Avalanche Total Value Locked (TVL): $735.9M (+0.2%)
Avalanche C-Chain daily txns: 3.6M (+33.3%)
Max transactions per second: 940 tx/s (+138%)
Total Avalanche validators: 673 (+3.06%)
Total Avalanche L1s: 465 (+1.09%)
The percentages and metrics are based on a 7-day timeframe from Token Relations data, unless noted otherwise.
Inside The Blockchain
🔺What we’re watching: Broadridge Financial Solutions expanded its governance platform to support tokenized equities, recording proxy votes through its own Avalanche-based layer-1 (L1) blockchain. Galaxy Digital will be the first to use the system for its annual shareholder meeting in May.
🔺Why it matters: Votes for Galaxy's tokenized stock GLXY will get recorded on Broadridge's Avalanche L1, consolidating both traditional and tokenized holdings into a single interface.
Onchain voting gives shareholders the ability to vote directly from their digital wallet, without going through a traditional brokerage or custodian. This also opens up the investor base and voting rights, since tokenized equity holders can buy and hold the asset from anywhere, not just where the stock originated (which is the US in this case.)
This tokenized equity includes the same rights as traditional shares by running parallel governance across both traditional and tokenized holdings through Avalanche's settlement layer. In turn, it ensures that tokenized holders would be treated the same as other shareholders when it comes to equity voting.
For existing GLXY shareholders holding the asset through conventional accounts, nothing materially changes as there is no dilution and no new shares are issued or changes are made to the cap table. Instead, it expands who can participate, as investors holding tokenized equity onchain have historically had limited ways to exercise voting rights.
🔺The bigger picture: Broadridge processes governance and investor communications for thousands of public companies, with clients including BlackRock, Vanguard, State Street, Morgan Stanley.
The concept of putting votes onchain or governance templates isn’t new. However, Broadridge’s system works within regulatory and operational workflows and is built for public equities, instead of for crypto-native projects. Other interested issuers can watch Galaxy’s initiative, as a reference point for how onchain governance platforms operate within equity markets.
Chart Of The Week
Last week was Avalanche C-Chain’s most active week in the past year, with transactions reaching 20.5M.
Scaling the Ecosystem
W3.io launched Dealsync for Creatorland on Avalanche, a creator-centric platform that handles emails, supports brand deal management and provides infrastructure for digital payments
Blockdaemon launched a public validator on Avalanche targeted towards its institutional audience
Carlos Domingo, CEO of Securitize, went on Layer One’s podcast with John Wu, President of Ava Labs, to share why they think the adoption of tokenization will be driven by regulatory clarity
AVAX Community Wins
Avax Bingo released an onchain prediction strategy game based around real-life ecosystem events
Check out Avax Team1’s article about the game, how it works, and the inspiration for it
The Arena launched the mobile version of social finance app to the iOS Store
Moonpay enabled zero-trading fees for stablecoin onramps created by AI agents
Join In The Fun
Want to dive deeper into Avalanche?
Find the latest Ava Labs job postings here
Sign up for Avalanche’s next Summit on Sept. 16 and Sept. 17 in New York City
Participate in Round 2 of Retro9000’s C-Chain round
That’s all for now.
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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.