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Jay Kurahashi-Sofue, VP of marketing at AvaLabsOfficial, is seen excited about the insane demand for Avalanche AVAX and the hyper-growth seen in the ecosystem. He narrates the contributory factors to the growth of the ecosystem in his own words:
Avalanche mainnet launch marked a historic moment when they officially deployed a revolutionary consensus model.
Avalanche consensus provides for high levels of decentralization and tx throughput. However, what it really does well is by achieving sub-second tx finality.
R. Minchev recorded a video to record sub-second tx finality stated, “AVAX transactions time to finality is averaging a blink on a network with 744 full block producing validator nodes on L1. Pretty sure we are about to change the industry here.”
The immediate focus has been to build a strong foundation for a potential influx of users: Expanding AVAX liquidity across the globe, Improving Avalanche platform performance Deploying key infrastructure tools like Ledger, Avascan Explorer, and Ankt are just a few to name.
In parallel, Avalanche has been working closely with developers to understand important strengths and opportunities. The charge was led by encodeclub, chainlink, covalent HQ, and others to discover the hidden DeFi Gems.
All foundation-building efforts appealed to projects seeking early, high-growth opportunities. Sub-second tx finality is very crucial for DeFi’s success. Early Avalanche dapps took advantage of this and immediately sought out collaboration–DeFi is not a zero-sum game.
For clarity, “a zero-sum game is a mathematical representation of a situation in which an advantage that is won by one of two sides is lost by the other. If the total gains of the participants are added up, and the total losses are subtracted, they will sum to zero.”
Jay Kurahashi-Sofue, gave a huge shout-out to the new, early dapps pushing the success of the entire Avalanche ecosystem: pangolinDEX, snowballdefi, elk_finance, penguin_defi, avalancheapp, iomarkr, yieldyak, kuufinance, Lydia Finance, Traderjoe_xyz, sporeproject, and more.
Avalanche kicked this summer off with a bang. To start, ChainLink, deployed on the main net–enabling dapps to leverage critical, tamper-proof external data-feeds like pricing data. Chainlink was critical for dapps like Benqui Finance –and many more to come.
Speaking of Benqui Finance, the decentralized lending and borrowing dapp just launched 5 days ago. Today, they just crossed $1B total value locked (TVL). The entire Avalanche DeFi ecosystem now has nearly $1.5B TVL.
Another exciting vertical on Avalanche is NFTs. The ToppsNFTs, Bundesliga_EN marketplace provides a seamless UX without the need for new, complex blockchain tools. Avalanche simply serves as a platform to settle transactions in under a second.
Last week, Avalanche Rush was introduced to the world, unlocking $180M in incentives for key dapps like Aave Aave, Curve Finance, Benqi Finance, and more. Use these dapps, and earn rewards in AVAX and other dapps’ native tokens.
