The Avalanche Snow Report: November 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

Avalanche9000 is Live on Testnet

As we approach Avalanche9000–the largest network upgrade since mainnet–a commitment to builders stands at the foundation of the ecosystem. Avalanche9000 introduces the Etna Upgrade, ACP-77, ACP-125, and more, reducing deployment costs by 99.9%, simplifying customization, and improving maintenance. Developers can leverage Avalanche Layer 1 (L1) blockchains with Interchain Messaging (ICM) for seamless communication and shared network effects.

With today's launch of the Avalanche9000 testnet, the Retro9000 program opens, offering up to $40 million in retroactive grants, including $2 million for referrals, to developers building L1 blockchains and essential developer tools on the testnet.

Learn more here.

DeFi

deUSD RWA Institutional Program Comes to Avalanche

In collaboration with Securitize, Elixir’s deUSD RWA Institutional Program introduces over $1B of tokenized RWAs to DeFi. This new functionality enhances liquidity and composability for RWAs issued by Securitize and other issuers across DeFi. Institutional holders can now access deUSD liquidity in DeFi while continuing to earn yields from their underlying investments.

Learn more here.

Cross-border Payments Powered by Avalanche and StraitsX

StraitsX, in partnership with Alipay+ and GrabPay, is leveraging blockchain and Purpose Bound Money (PBM) to enable a stablecoin-powered payment system for users across AlipayPlus apps at Grab merchants in Singapore. Roughly 1.3B people and 180M merchants use Alipay+. As e-wallets and merchant networks grow in Southeast Asia, so does the demand for streamlined cross-border transactions.

This stablecoin-powered system allows users to transact in their local currency across Alipay+ apps, while merchants benefit from immediate Singapore dollar ($XSGD) settlements.

Learn more here.

Enterprise & Institutions

BUIDL Landed on a New Chain 🔺

Tokenized through Securitize platform, the BlackRock USD Institutional Digital Liquidity (BUIDL) Fund is one of the largest tokenized treasury funds globally, marking the latest milestone in the growing tokenized asset ecosystem on Avalanche.

One share of the $500M+ Fund is represented by one BUIDL token. Through Avalanche, the Fund offers greater utility than that which may be accessed via traditional financial market rails.

Learn more here.

AvaCloud Selected to Participate in Kinexys by J.P. Morgan’s Project EPIC

Kinexys by J.P. Morgan (formerly Onyx by J.P.Morgan) selected AvaCloud to participate in Project EPIC, a new report examining the state of on-chain privacy, identity, and composability.

Bolstered by the acquisition of EtraPay, AvaCloud has brought to market advanced privacy solutions that provide confidential transactions and portfolio balance management while maintaining auditability and composability on the Avalanche blockchain.

Learn more here.

MeWe to Launch Privacy-Focused Decentralized Social Network on Avalanche

MeWe, one of the world’s leading privacy-focused social networks with 20M+ members, is launching its decentralized social network on its own Avalanche L1. Bringing the entire 20M+ user base and 700k community groups onto its Avalanche L1 will empower users to earn rewards for their engagement, content creation, and contributions, fostering a vibrant and thriving ecosystem.

And they've been hard at work bringing people into Web3 with over 1.3M users on-chain.

Learn more here.

Uptop Leverages Avalanche to Transform Fan Loyalty

The Cleveland Cavaliers launched their new loyalty program, Cavs Rewards, powered by Uptop and built on Avalanche. Cavs Rewards brings next-level fan engagement, connecting the team and community like never before. Uptop’s app delivers a sports industry-first: an open-loop rewards system that allows a team or league’s sponsors to participate directly in the fan loyalty program.

Learn more here.

Gaming

Off the Grid Announces $3k Daily Tournament

Gunzilla’s hit game Off the Grid announced that players can now win cash prizes every day simply for playing the game.

The top ten players during the daily designated play period will receive a share of the prize, with the player in first place netting $1k each day. After each period, scores reset, and players can compete again for the next day’s rewards.

For the full rules and how to claim, visit here.

Faraway Introduces Faraway Foundry Creator Program

Gaming ecosystem & studio Faraway introduced Faraway Foundry, a program to support content creators of all sizes. Starting with their title, Shatterline, the program seeks to activate burgeoning KOLs and help them grow their audiences in exchange for creating content about Faraway’s library of games.

Learn more here.

Avalanche Ambassador DAO

Avalanche Ambassador DAO Launches New ‘Country Lead Pilot Program’

Later this month, the Ambassador DAO will launch a new program with a few high-performing ambassadors to help lead operations in their respective countries/regions.

The pilot program will be three months long, and the five selected countries are India, Nigeria, Kenya, Turkey & Colombia.

Learn more here.

Avalanche Ambassador DAO Secures $1.15M Grant

The Ambassador DAO has been awarded a $1.15 million grant from the Avalanche Foundation. This funding will enable the DAO to further support and grow the Avalanche community over the next six months.

Learn more here.

Infrastructure & Enablement

Blockticity Develops Global Trade Verification Standard Using Avalanche

The global trade industry is plagued by inefficiencies and vulnerabilities, especially with document authentication, which ends up costing the global economy $4.7T annually!

Blockticity is out to solve this issue by developing a new global standard for Certificates of Authenticity (COA) using an Avalanche L1. This is a HUGE step towards global integration of blockchain technology to improve global commerce, and it's happening on Avalanche.

Learn more here.

Suntory Group to Launch Tokenized Premium Malt’s Beer on Avalanche

Suntory introduces tokenized Premium Malt’s Beer to blockchain, powered by Avalanche. The beer, aged in Yamazaki Whisky barrels, will feature near-field communication (NFC) technology on the neck of special bottles to connect to a digital experience.

When opened, the NFC tape is broken and customers will receive a digital collectible on Avalanche as a certificate of consumption.

Learn more here.

ICYMI: Avalanche Sessions