The Avalanche Snow Report: July 2024

Welcome to The Avalanche Snow Report! This monthly newsletter brings you highlights from across the Avalanche ecosystem, including DeFi, Enterprise & Institutional, NFTs & Culture, Gaming, and Infrastructure & Enablement.

Have feedback or want to learn more? Please contact megan.moran@avalabs.org.

Network Highlights

See Ya Subnets

Subnets are out, Avalanche L1s are in.

Check it out here.

Avalanche Summit LATAM Tickets Are on Sale 🔺🇦🇷

Avalanche’s highly anticipated event is taking place this fall, from Wednesday, October 16 through Friday, October 18, at Ciudad Cultural Konex in Buenos Aires, Argentina.

Get involved: Secure your spot, apply to speak at or sponsor the event, and book your hotel.*

Hope to see you there!

DeFi

Avalanche DeFi Gets a Boost!

Introducing Boost by the Avalanche Foundation, an ecosystem wide DeFi liquidity mining program with the goal of boosting Avalanche DeFi total value locked (TVL), adoption, users and volume.

In combination with Icebreaker, a program aiming to increase on chain activity, Boost has enabled Avalanche TVL to go up more than any other large ecosystem over the past month (36%).

Learn more here.

XSGD Stablecoin by StraitsX Comes to Avalanche

Pioneering payments infrastructure StraitsX has integrated with Avalanche to enhance multi-chain capabilities and unlock new DeFi opportunities. The integration offers faster, cheaper transactions and, by leveraging Avalanche’s high throughput and low fees, drives greater innovation and efficiency across payment infrastructures.

Learn more here.

Enterprise & Institutions

California DMV Makes History, Digitizes 42 Million Car Titles on Avalanche Blockchain

Oxhead Alpha is digitizing 42 million car titles on Avalanche to modernize the title transfer process, a major implementation for California’s DMV.

Along with its partners, the DMV is building a blockchain to streamline vehicle title transfers for over 39 million residents, so vehicle owners can soon use verifiable credentials to claim digital titles in minutes through the DMV’s secure mobile wallet app.

Avalanche’s smart contracts will mediate the transfer, allowing consumers to track and manage titles digitally and reducing the need for DMV visits. Additionally, blockchain technology will provide an early warning system for lien fraud with its immutable ledger.

Learn more here.

Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

The post Great Financial Crisis private credit landscape has evolved significantly, presenting a case for investors to explore blockchain-enabled opportunities within the Avalanche ecosystem. The $8 trillion specialty private credit market includes sectors like home equity, reinsurance, receivables, CRE, and media/IP rights. Originators on Avalanche use their expertise to address industry pain points and offer unique, cost-effective solutions.

These companies, seeking debt financing to scale, can benefit from the structuring expertise of alternative asset managers and strategic equity partners. This combination of debt and equity exposure, along with potential liquid token upside, presents a compelling return opportunity for investors.

Learn more here.

Gaming

Maplestory Universe Launched Their Pioneer Playtest, a Limited Event for Early Testers and Fans

Maplestory Universe is already generating 30,000 transactions per day on their Avalanche L1 with this limited test.

Learn more here.

Fableborne Mobile Action RPG Launched to Over 70,000 Players

Fableborne blends ARPG and strategy, letting you raid enemies and protect your kingdom. Their Season 1 play to airdrop event had over 5,000 hours played in game.

Learn more here.

Spellborne’s Monster Hunter MMORPG Launched to Over 100,000 Players

With dozens of community integrations players from across many ecosystems are getting their very own NFTs as skins in game.

Learn more here.

NFTs & Culture

Community Receives Airdrop from Avalanche Foundation

The Avalanche Foundation airdropped AVAX and COQINU tokens to the Avalanche community, focusing on addresses that participated in the Memerush program or had a high score through Frosty Metrics’ Chill Factor. The airdrop utilized the Core Airdrop tool, a publicly available, free to use part of Core’s suite of services.

Please note: the airdrop was completed and no claiming was required. Beware of scams attempting to leverage the excitement around the Foundation’s drop.

Learn more here.

Avaissance Offers More Free Online Lectures

The Avaissance artist residency is making its classes available to the public. All are welcome to virtually view the lectures offered by mentors in five different disciplines. The class sessions are watchable through the Playground SocialFi app, but only while being broadcast live.

Taught by industry experts, the five tracks offer free virtual lectures in Photography, Fashion & Phygital, PFP Project Management, Digital Art & Community, and Generative & AI art.

Learn more here.

Infrastructure & Enablement

Interchain Token Transfer Arrives

Interchain Token Transfer (ICTT) simplifies the traditionally complex and costly process of creating and auditing smart contracts for token bridging between Layer 1 (L1) blockchains.

With pre-built, thoroughly audited, and permissionless smart contracts, Avalanche ICTT enables seamless bridging of tokens like USDC and BTC between various L1s on Avalanche. This enhancement saves time and resources while ensuring security and standardization across cross-chain transactions.

Learn more here.

Alchemy Lands on Avalanche

Alchemy’s RPCs, subgraphs and dashboards all are live for developers to utilize on Avalanche.

Learn more here.

ICYMI: Avalanche Sessions