Weekly Avalanche Overview

Data pulled: 11/17/2023

Announcements

J.P. Morgan Leverages Avalanche To Explore a New Paradigm for Portfolio Management

Onyx by J.P Morgan and Apollo Global have announced a collaborative effort under the Monetary Authority of Singapore’s (MAS) Project Guardian, showcasing a proof-of-concept (PoC) that marks a first and pivotal step toward revolutionizing the asset and wealth management industry.

"Our work under Project Guardian demonstrates a significant opportunity for the asset and wealth management industry…By leveraging the power of blockchain technology we have shown how the construction and management of discretionary portfolios could be revolutionized.”

- Tyrone Lobban, Head of Digital Assets at Onyx

What does this have to do with Avalanche? Omnichain interoperability protocol LayerZero connected Onyx Digital Assets with a permissioned Avalanche Evergreen Subnet, which facilitated subscriptions and redemptions for funds offered by WisdomTree, a leading asset manager and pioneer in fund tokenization. According to the PoC participants, the initiative yielded several learnings that validated key benefits.

Read on

Avalanche Supports Citi FX Solution Under Project Guardian

Ava Labs’ AvaCloud, a managed custom blockchain service offering private and permissioned Avalanche blockchains, was used by Citi to test an innovative application leveraging blockchain infrastructure to price and execute simulated bilateral spot foreign-exchange (FX) trades.

What makes this different from TradFi? Private permissioned Avalanche Evergreen Subnets were used for the current phase to capture price quotes, as well as simulated trade confirmations specific to each counterparty. They also leveraged Avalanche’s native intranetwork interoperability, which enables interoperability without third party bridges or trust assumptions.

Read on

Republic Launches New Digital Asset:
the Republic Note

Source: Republic Note

Private investing platform Republic chose to launch its digital asset, the Republic Note, on Avalanche. It’ll be available to retail investors globally at low minimums and accrues profits generated by Republic’s portfolio of 750+ private assets, distributing them to holders’ digital wallets in stablecoins.

Learn more →

Owl Explains: How Can Web3 Protect Speech

Episode 21

Hop on the internet and you’ll find plenty of misinformation and illegal or harmful content. Many are trying to find new ways to combat this, like Elon Musk’s version of Twitter *cough* X *cough*, but how can blockchain play a role?

Journalist Maria Bustillos, founder of Popula and the Brickhouse Cooperative, has an idea. Listen as she discusses the topic with Emma Pike, Consultant at H+K Strategies, on episode 21 of Owl Explains’ Hootenanny.

Listen to the podcast →

Builder Spotlight

Blockpay

Banking. Electronic payments. Remittances. The ability to move between currencies in clicks. These were the ingredients making blockchain ideal for supporting financial applications and providing them globally. Enter Blockpay, a payment tool provider furthering the mission of financial inclusion.

Blockpay offers merchants point-of-sale devices that can accept card payments and has released crypto-funded debit cards so users can painlessly withdraw crypto IRL. But how exactly does Avalanche make a difference?

Find out →

This week in Web3

Avalanche Foundation Reveals Its Mission Statement

Source: Avalanche

Through funding, publicizing, and more, the Avalanche Foundation contributes to the continuing development, implementation, and maintenance of Avalanche and its community. Now, it brings us a clear mission statement so no one can get it twisted:

“Create a sustainable ecosystem around the Avalanche public blockchain that encourages innovative projects, collaborative and composable activities, and cutting-edge research that results in the digitization of all the world’s assets.”

Learn more about the Foundation

This Week’s Spaces

@SamSteffanina

Gamified #41 | Roblox NFTs | Becker Speaks | Ubisoft Enters

November 15

Play recording →

@ArtOnAvax

05 - @Izzyalright + NFT News & Discussion. @SuperchiefNFT co-hosts

November 15

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ICYMI

Gaming on Avalanche
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