Avalanche is a high-performance blockchain, which makes it easy for developers to create Dapps on the top of its open protocol. The Avalanche protocol is particularly designed to solve different limitations of the blockchain technology.
The network is capable of handling roughly 4,500 transactions per second. These transactions are settled within 2 seconds. The protocol is designed in a way to easily allow migration of Ethereum applications.
Avalaunch is the Avalanche network’s native solution for helping new projects launch and build communities. It is essentially an Initial DEX Offering (IDO) platform that aims to fix the common problems with decentralized funding, from basics such as pricing and speed to user experience.
Currently, one of the hottest projects on the network, Benqi is a decentralized, non-custodial borrowing and lending protocol. In practical terms, it offers users the core functionality of a bank: users can borrow and lend digital assets (WETH.e, WBTC.e, USDT.e, etc.), and earn interest. As it also operates as a bridge to Ethereum, users of the latter can escape the limitations of the Ethereum network.
On Feb 16 @Benqifinance tweeted as “We are thrilled to announce the release of BENQI’s Liquid Staking Protocol on #Avalanche!”
Pangolin is a decentralized exchange (DEX) for Avalanche and Ethereum assets. Originally a fork of the Uniswap DEX, it uses the automated market-maker model (AMM) to offer P2P trading – only faster and cheaper. It is unusual in prioritizing fiat integration, offering users the ability to purchase the native Avalanche token AVAX using Apple Pay or Credit Credit. This reflects its strategy to reach a larger audience of users.
While Pangolin may have been the original Avalanche DEX, Trader Joe has risen in recent months to become the largest with a TVL of $2.49bn as of the time of writing (compared to Pangolin’s $419m).
It markets itself as a “one-stop” trading platform for the Avalanche user base. Unlike Pangolin, its tokenomics are more traditional, with 40% split between the developer team and the treasury, and 10% set aside for strategic investors (a group that already includes Defiance Capital). Rewards are focused on holders of the JOE token (rather than liquidity providers) who share in the trading fees.
Penguin Finance is based on PancakeSwap, and its stated aim is to bring yield-farming, staking, and other functionalities to the Avalanche Network. Leveraging the Pangolin platform for trading, it presents users with a gamified design to incentivize and enable them to pursue various DeFi investing strategies.
The platform includes actual games (Penguin Emperor, Penguin Arena), charity events, NFTs, and ‘the cheapest and highest-yielding auto-compounding protocol on the Avalanche network”.
Yield Yak is an auto-compounding farming platform for the Avalanche network. It enables users to deposit LP tokens they have received from other Avalanche DEXes such as Pangolin and maximize their yield.
Although gas fees are cheaper on Avalanche, they are not negligible. Yield Yak pools the LPs deposited by users in a smart contract leverages economies of scale to reinvest rewards more efficiently.
Steven is an explorer by heart – both in the physical and the digital realm. A traveler, Steven continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Steven and through his business acumen has gained financial profits as well as fame in his business niche. Send a tip to: 0x200294f120Cd883DE8f565a5D0C9a1EE4FB1b4E9
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