The Avalanche Snow Report: November 2023 Your November roundup of highlights from across the Avalanche ecosystem is here! This issue: Applications Open For Avalanche Codebase Accelerator Program, Citi & JP Morgan Leverage Avalanche Subnets for Project Guardian Initiatives, Hyperspace Season 2 Underway, Republic #ChoseAvalanche, & more! Have feedback or want to learn more? Please contact luke.chmiel@avalabs.org. Network Highlights Applications Open For Avalanche Codebase Codebase by Avalanche is a 12-week accelerator program designed to fund and support high-potential founders developing the next big applications on Avalanche. Apply to join today! What to expect for Codebase participants:
Discussion Continues Around Astra Upgrade & Other Community Proposals The discussion around ACP 13, dubbed the Astra Upgrade, and other recent Avalanche Community Proposals continued in earnest this month. Reflexivity Research put out a report on the proposed Astra Upgrade, Subnet Only Validators (SOVs), and what it would all mean for Avalanche Subnets. You can read that here. The discussion around recent ACPs was also a key focus of this month’s Developer Community Calls, hosted by the Ava Labs platform team, which you can watch here and here. DeFi Canza Launches Baki, the First Synthetic DeFi Market for African Stablecoins Baki is an infinite-liquidity forex protocol allowing for slippage-free swaps between African currencies. The protocol allows users to deposit stablecoins and mint overcollateralized, synthetic assets, called zTokens, that are pegged to African currencies, creating the first on-chain implementation of African stablecoins. Learn more here. Colony Launches $10M Validator Program Colony Lab said it will invest $10 million to support the long-term growth of the network. Colony Lab will also invest in the Colony Avalanche Index (CAI), a yield-bearing token index in the Avalanche ecosystem, which includes assets like AVAX and Trader Joe’s JOE. Fees from mints or redemptions will be distributed to Colony Lab’s CLY token stakers. Rewards from both the initial and upcoming validator programs will be directed to the CLY stakers community. Learn more here. Enterprise & Institutional Avalanche Supports Citi FX Solution Under Project Guardian As a part of Project Guardian, a collaborative initiative by the Monetary Authority of Singapore (MAS) and the financial industry, Citi announced at the Singapore Fintech Festival that it has tested the use of blockchain infrastructure to price and execute simulated FX trades using Avalanche Evergreen Subnets. This new on-chain solution, built with the support from AvaCloud's managed blockchain service, is designed to leverage blockchain technology to track real-time streaming of price quotes, while recording trade executions on Avalanche in a compliant manner. While current scope is limited to simulated spot FX contracts for USD and SGD, the underlying solution could be adapted for any other asset class to enable greater transparency, capital efficiency and increased auditability and security. Learn more about Citi's on-chain pricing solution here. Avalanche Supports J.P. Morgans Onyx Portfolio Management Solution Under Project Guardian In a separate collaborative effort under the Monetary Authority of Singapore (MAS) Project Guardian , Onyx by J.P. Morgan and Apollo Global Management, Inc. also announced a PoC focused on tokenized assets during the Singapore Fintech Festival. For this proof of concept, ODA and Apollo partnered with WisdomTree, Inc., our team at Ava Labs, and others including LayerZero Labs to build an on-chain portfolio management solution that leverages smart contracts in order to demonstrate how OnFi can benefit the broader asset/wealth management industry. The solution’s elegant architecture features interoperability across multiple permissioned chains, including an Avalanche Evergreen Subnet with Biconomy's Account Abstraction tech built in for a more seamless user experience. Learn more about JPM Onyx's portfolio management solution here. Republic Announces Launch of Republic Note Exclusively on Avalanche Republic’s novel profit-sharing digital asset, the R/Note, is set to be listed for secondary market trading through the Avalanche-powered trading platform INX on December 6. The Republic Note accrues profits generated by Republic’s portfolio of 750+ private assets, which includes equity in private companies like SpaceX, Carta, Klarna, and Gumroad, and distributes them to holders’ wallets via stablecoins. For the first time ever, non-accredited investors can gain exposure to an extensive private equity portfolio, actively developed by a professional investment firm, and have it all in a single digital asset. Learn more here. Gaming Shrapnel Team Closes $20M Series A Funding Round Neon Labs, the developer behind the extraction based first person shooter, Shrapnel, closed their $20M Series A funding round.With this round of funding, Shrapnel is anticipated to accelerate its development and see a closed alpha launch in early Q1 of 2024. Read more about the round here. Solert Subnet Deploys on Mainnet Solert Games, formerly Saber Games, deployed its Subnet Mainnet on Nov. 30. The Subnet launch will be followed by the on-chain launch of their first title, Legends at War, which is a 4X mobile game with similar mechanics to Age of Empires. Solert Games is poised to launch additional games throughout the year of 2024, and beyond. Learn more here. NFTs & Culture Season Two of Hyperspace Rewards Begins The highly anticipated second season of Hyperspace rewards is now underway, allowing users to earn reward points through NFT trading and minting. The Hyperspace team has stated that this season will emphasize volume in trading, with a particular focus on buyers over sellers, and ensuring fair play by penalizing suspicious trading activities. Users will also be incentivized to mint NFTs from upcoming projects, including a notable launch with CozyverseXYZ, set to release Woofys on November 30th. As before, Hyperspace rewards will be exchangeable for AVAX at some point. To learn more, visit the rewards section of the Hyperspace marketplace here. ARC’s “Into the Art” Competition ARC, a digital collective focused on curating Asian artists and community, has launched their "Into the Art" competition, inviting new media artists to showcase their work and tap into exclusive collector networks in Asia and the Web3 space. This opportunity, enabled by ArtOnAvax and the Mona Lisa Initiative, gives artists the chance to have their works acquired by ARC and become part of a curated collection, standing alongside celebrated Web3 creators. The process involves submitting artwork by December 28th, with a live artist pitch scheduled for January 8th, 2024. Selected artworks from this pitch will undergo final review by the ARC art advisory committee, with the chosen pieces being minted on an AVAX marketplace and acquired by ARC. For submission guidelines and further details about the competition, head to ARC’s announcement here. More NFTs & Culture Highlights
Infrastructure & Enablement AvaCloud Adds thirdweb To Make Building Apps on Custom Blockchains Easy When launching a new chain, one of the biggest challenges is that developers need to start from scratch — unable to leverage existing dev tools & infrastructure. Using thirdweb, app developers gain the tooling and SDKs to build and launch apps on custom, highly performant AvaCloud blockchains quickly and easily, with a full development stack on day one. Learn more about the integration here. SnowTrace.io Completes Transition to Snowtrace Multichain The newly transitioned Snowtrace has finished the process of transitioning the previous Avalanche explorer, Snowtrace, by Etherscan, to a new and improved block explorer that is now operational under Routescan’s infrastructure. The Multichain explorer includes subnets, has a similar feel to previous platforms, and is catered to the Avalanche ecosystem. Check out the new explorer here. More Infrastructure & Enablement Highlights
ICYMI: Avalanche Sessions
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