A quick overview of Avalanche’s ecological map: how are the progress and what are the featured projects

Since its inception in 2020, Avalanche has grown into a vibrant ecosystem with over 500 Dapps currently in the ecosystem with a total lock-up of over $4 billion (DefiLlama data as of May 31).

Different from other competing public chains such as BNB Chain and Solana, which are similar to Ethereum’s smart contract routes, Avalanche provides an “application chain” solution similar to the Cosmos ecosystem for ecological applications – the Avalanche subnet.

In theory, Avalanche allows the creation of unlimited subnets (Subnet), which is the secret of its network expansion, each subnet (Subnet) can be private (permissioned) or public (permisionless), using the same subnet (ie owning The blockchain with the same validator set) will also be compatible by default, so that it is easier for the project party to expand and deploy, and it can also ensure security.

With DeFi Kingdoms choosing to launch the Avalanche subnet in April, the expansion from smart contracts on Harmony to the Avalanche subnet has made the Avalanche subnet even more popular in the industry.

The article “Deep Interpretation of Avalanche: From EVM Compatible L1 to “Subnet Pioneer” mentioned that with the promotion of subnets, Avalanche has gradually evolved from another “Ethereum killer” to “subnet pioneer” .

Avalanche Ecological Feature Project

Compared with competing public chains such as Polygon, Fantom, and Harmony, apart from Aave, which ranks first in terms of lock-up volume in the Avalanche ecosystem, DeFi applications deployed by multiple chains such as Curve and SushiSwap are not the only ones, but Trader Joe and Platypus Finance. , Benqi and other native DApps on Avalanche are at the forefront.

A quick overview of Avalanche's ecological map: how are the progress and what are the featured projects

Trader Joe

Trader Joe is a decentralized exchange on Avalanche. It provides lending services through Banker Joe. Users can mortgage JOE (project tokens) to obtain xJOE, users can get part of the transaction fees, and users can provide liquidity on Traderoe DEX to earn With JOE tokens, JOE holders can also vote for governance proposals.

Platypus Finance

Platypus Finance is a stablecoin AMM on Avalanche, and like Curve, provides stablecoin trading services with low slippage. There are many ways to earn income through Platypus, and its token economics are also different from Curve, which encourages long-term holders of PTP.

BENQI

BENQI is a decentralized non-custodial liquidity market protocol on Avalanche that extends DeFi with a suite of yield-generating products that provide a lending marketplace where users can borrow and lend digital assets.

Yeti Finance

Yeti Finance is a decentralized lending protocol built on Avalanche, which allows users to pledge LP token portfolios, sJOE, sAVAX and other assets for lending, and all lending rates are 0%. When the underlying assets are deposited into the Yeti Finance platform, users can keep all farming and staking rewards, enabling leveraged farming strategies.

Wonderland

Wonderland is the first decentralized reserve currency protocol on the Avalanche network based on TIME tokens, each TIME token is backed by a basket of assets in the Wonderland vault (such as MIM, TIME-AVAX LP tokens, etc.) Staking and minting bring economic and game-theoretic dynamics to the marketplace.

Yield Yak

Yield Yak is a decentralized aggregator that completely relies on smart contract execution. The aggregation logic is all on the chain, and anyone can conduct transactions and queries without the assistance of a centralized organization. Projects applying it can develop and deploy unique aggregator front ends, and developers can develop different versions according to specific application scenarios.

Vector Finance

Vector Finance is a symbiotic protocol with Platypus Finance. It provides users with higher stablecoin yields from Platypus Finance without having to own PTP tokens.

DeFi Kingdoms(Crystalvale)

DeFi Kingdom is a game that combines P2E games and DeFi, it started on the Harmony blockchain and started to expand to other chains after the number of users exploded. It was announced on April 1 that the sub-network DFK Chain will be running on Avalanche, named Crystalvale, and the game’s token JEWEL will be used for all transactions on the sub-network chain.

Crabada

Crabada, an Axie-like Play-to-earn game in the Avalanche ecosystem, is a very popular game that previously accounted for 15% – 40% of the total transaction fees on the Avalanche C-chain.

cross-chain bridge

Except Avalanche Bridge (Beta) and other specialized Avalanche ecological cross-chain bridges, almost most of the mainstream cross-chain bridges also support Avalanche’s EVM compatible chain (C chain), including Hop, Synapse, Celer Bridge, Connext, LI. FI, LayerSwap, O3 Swap, Orbiter, Poly Network, Via Protocol, Stargate, etc., the author only introduces some of them.

Avalanche Bridge(Beta)

Avalanche Bridge (Beta) is the official cross-chain bridge developed by Ava Labs. Currently, it only supports cross-chain transfer of assets between Avalanche and Ethereum.

Synapse

‎Synapse Protocol‎ is upgraded and renamed from the original anonymous cross-chain liquidity protocol Nerve Finance. It adopts cross-chain multi-party computation (MPC) validator and threshold signature scheme (TSS), and currently supports all major EVM compatible chains. Bridges and swaps including Ethereum, BNB Chain, Polygon, Avalanche, Arbitrum, Optimism, Aurora, Boba Network, Moonbeam, Moonriver, Fantom and Harmony. ‎

XP.NETWORK

XP.NETWORK is an NFT multi-chain bridge that allows users to transfer NFTs between blockchains such as Aurora, Ethereum, Avalanche, Polygon, etc.

Wrapped

Wrapped is a technology provider for wrapping Layer1 assets, a collaboration between Tokensoft and qualified custodians to provide high-quality custody, management and compliance solutions for wrapped assets.

Router Protocol

Router Protocol is a cross-chain infrastructure that supports cross-chain transfers and exchanges. Currently integrated networks include Ethereum, Avalanche, Fantom, Polygon, BNB Chain, Optimism, and Arbitrum.

BoringDAO

BoringDAO currently supports asset transfer or cross-chain between 14 networks including Ethereum, Arbitrum, BNB Chain, Polygon, and Optimism.

SCOTTY BEAM

SCOTTY BEAM is an NFT multi-chain bridge that allows users to transfer NFTs between blockchains such as Ethereum, BNB Chain, Polygon, Avalanche, Fantom and Solana.

Avalanche Ecology Other High TVL Projects

According to DeFiLlama data, more than half of the top 10 applications in Avalanche’s ecological lock-up volume are Avalanche’s native DApps, and the TVL is more than 100 million US dollars, and the development is relatively diversified.

In addition to the above-mentioned projects, TVL’s top 20 projects include Trader Joe, Curve, Stargate, Benqi Staked Avax (SAVAX), GMX, Homora, Echidna Finance, Pangolin, Synapse, Beefy Finance, RadioShack, and Sushiswap.

With the expansion of the subnet, the follow-up development path of Avalanche is also worth thinking about, especially whether it can benefit from the balance of scalability, deployment cost, and security in the future, and gradually attract more public chain competition. Project innovation and funding precipitation?

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/a-quick-overview-of-avalanches-ecological-map-how-are-the-progress-and-what-are-the-featured-projects/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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