Securitize and Re launched Avalanche-powered reinsurance investment fund
Avalanche Weekly Overview - September 25, 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: $27.62 (+20.56%)
Max transactions per second: 405 (+18.42%)
Network’s total transactions: 10.42M (+31.57%)
Avalanche C-Chain daily txns: 155.8K (+13.14%)
DeFiLlama’s Avalanche TVL: $1B (+12.81%)
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: Securitize and Re launched the Re Member Fund, a reinsurance investment fund built on Avalanche.
🔺Why it matters: Reinsurance or “insurance for insurers,”provides a contractual agreement between a reinsurer and insurer, Securitized stated on their website.
This fund looks to help insurance companies to remain solvent by covering part or all of their payout obligations. It could reduce liability on individual risks and provide catastrophe protection from major losses.
Re Member Fund is also designed to provide financial backing for a range of insurance companies, programs and accredited investors by leveraging blockchain technology to streamline asset tokenization.
Securitize, a digital securities issuance platform, aims to bring the reinsurance industry onchain, which is currently valued at $700 billion and projected to reach $1 trillion by 2028, according to a study by Precedence Research.
Earlier this month, Securitize partnered with ParaFi Capital to tokenize its venture fund on Avalanche. In general, Securitize has made a move to bring real-world assets onto the Avalanche blockchain, by creating a number of new investment opportunities for accredited investors.
If this new fund can tap into the traditional investor market and encourage accredited investors to utilize blockchain technology, it will showcase alternative ways for exposure in emerging asset classes. In turn, this can onboard new users into the Avalanche ecosystem and scale the network’s efforts for decentralized finance (DeFi).
🔺The bigger picture: As Securitize continues to leverage Avalanche to tokenize traditional assets, it can pave the way for broader blockchain adoption across diverse investment funds. It’s also worth noting there are plenty of blockchains across the ecosystem that want to tokenize real world assets. But Securitize’s continued commitment to using Avalanche speaks to its trust and preference in using it for asset tokenization.
If the fund proves successful, it could accelerate the use of blockchain technology in the trillion-dollar reinsurance industry and attract more firms to explore Avalanche as a platform for tokenizing real-world assets.
On Avalanche’s roadmap, DeFi is one of its main focal points, in addition to Avalanche9000. If the tokenization of assets continues to see success, Avalanche can position itself as an attractive option for firms who aim to tokenize real world assets.
Scaling the ecosystem
Top 3 Avalanche games by 7-day total txns:
Defi Kingdoms: 4.81M (+58.44%)
Shrapnel: 169K (+15.35%)
Tiltyard: 45.7K (+12.61%)
Total addresses across all Avalanche L1s are up 71.4% year-over-year, according to Frosty Metrics data
Core, Avalanche’s native wallet app, integrated the ability to view validator and delegator insights
GoGoPool partnered with Jiritsu in hopes of making tokenization of RWAs on Avalanche more seamless
Active L1s: 39
L1 validators: 266
Total L1 validators: 1,469
Total blockchains created in the Avalanche network: 106
Total staked across Subnets: 535,284 AVAX
Distribution of L1s by category. Source: Snowpeer.
AVAX community wins
Avalanche Gaming went to TwitchCon 2024 and asked attendees about web3 gaming in this video
Learn more about Salvor, a lending and borrowing platform for Avalanche NFTs, in a thread made by X user PolyPup1
Avalanche L1 PLYR partnered with Ash and Suzuku – learn more about the partnership in this X space
Avalanche Archives
Here’s Avalanche-based articles that made headlines this week.
Avalanche: Gaming & the Next Crypto Revolution ft. John Wu (Raoul Pal The Journey Man podcast)
Interview with Benqi: sAVAX Liquid Staking, Avalanche 9000, Ignite and more (Rivo: Building Crypto Wealth podcast)
Check out the Avalanche blog for more updates.
Join in the fun
Want to dive deeper into Avalanche?
Participate in Flipside Data’s latest quest and learn how to mint aUSD using Stable Jack, a DEX built on the Avalanche network
Join the community at Avalanche Summit III in Buenos Aires, Argentina from Oct. 16-19
Play golf? Check out Avalanche Summit Open, a community golf tournament hosted by AvaxDAO
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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.