The Tie Webinars
[Recap] Avalanche Q3 2023 State of the Ecosystem
By Chí Phan
August 23, 2023
- Background and Vision for Avalanche subnets
- User Growth Drivers in Q3
- Ava Cloud & Infrastructure Developments
- Institutions & Evergreen Subnets
- DeFi Initiatives & the Development of On-Chain Finance Infrastructure
- Gaming and NFT Adoption
- It uses an innovative consensus mechanism that enables sub-second transaction finality, meaning transactions are irreversibly confirmed in less than a second. This makes Avalanche well-suited for use cases like financial services requiring quick settlement.
- Avalanche supports the creation of custom subnets: application-specific blockchains with customizable parameters.
- As the learning curve for building blockchains becomes steeper, Ava Cloud provides managed blockchain infrastructure services for builders to mix-and-match for efficient deployment of customized subnets. This "menu" of options includes validator nodes, RPC endpoints, block explorers, messaging protocols.
- RPC endpoints that applications can query to interact with the subnet blockchain, (similar to Infura for Ethereum). These endpoints spare builders from having to run their own nodes
- Block explorers help to easily visualize and query blockchain data through a graphical interface. Ava Cloud builds and maintains explorers customized for each subnet.
- Messaging protocols like Avalanche Warp Messaging (AWM) and the Teleporter framework are offered to enable communication between subnets. This powers use cases like asset transfers and shared liquidity pools between subnets.
- By handling these complex infrastructure components, Ava Cloud allows builders to focus on their application logic and user experience. It fills the blockchain expertise gap for teams without deep technical knowledge. The service also modularizes setup, management, maintenance and updates for the core infrastructure underlying subnets.
- For enterprises, Ava Cloud can help provide access controls, permissioning, and regulatory compliance features.
- Intain deployed an Avalanche subnet that can enable on-chain administration and secondary trading of asset-backed securities in a regulated, compliant environment, showcasing financial use cases with customized controls.
- Spruce can be seen as a controlled testing environment for institutions to prototype on-chain finance applications with assets like equities and commodities. Spruce facilitates low-risk experimentation prior to full-scale adoption.
- Voltz offers on-chain Secured Overnight Financing Rate (SOFR) reference rates, which are a critical building block in traditional finance for interest rate swaps and other instruments. Bringing SOFR on-chain in a permissionless way expands DeFi's capabilities. Voltz is also available in the Spruce institutional testing environment, showcasing the bridge between centralized and on-chain finance
- Struct Finance offers tranched yield and fixed/variable yield products to investors, another institutional finance construct now ported on-chain.
- Fractal provides capabilities similar to an institutional prime brokerage, enabling optimized capital usage across DeFi protocols. Specifically, Fractal helps institutions like institutional investors, liquid token funds, VC funds, and market makers maximize their capital efficiency when utilizing different DeFi applications.
- The TSM subnet plans to launch by the end of 2022. This will leverage Blitz, an existing gaming community app focused on titles like League of Legends, to encourage improving at those games through new incentive mechanisms
- Shrapnel - a blockchain-enabled first-person shooter game with AAA quality is targeting their launch in early 2023 with a dedicated subnet
- Off The Grid (OTG) - a AAA FPS game from Gunzilla Studio - expected to launch soon with in-game asset NFTs minted on an Avalanche subnet - GUNZ.
- Merit Circle is also building out the Beam subnet.
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