The Avalanche Snow Report: April 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 Processing 5 Billion Micropayments at 100k transactions per second with Avalanche Vryx Recently, the first Vryx devnet processed 5 billion micropayments at a sustained rate of 100,000 transactions per second (TPS). This test involved 10M active accounts – 2.5M active every 60 seconds and 95k active every second – sending transfers to each other. The devnet was validated by 50 instances running Snowman Consensus across 5 regions across 5 regions (us-west-2, us-east-1, ap-south-1, ap-northeast-1, eu-west-1). See the demo here. Startup Incubator Codebase Names First Cohort Codebase by Avalanche, an accelerator program for early-stage Web3 startups building on Avalanche, has chosen its first cohort after receiving nearly 250 applications from over 30 countries. The program has significantly increased funding from its original announcement by partnering with Colony Lab. Codebase by Avalanche is hosting its inaugural Demo Day May 30th, alongside the Consensus Conference in Austin. Learn more here. DeFi Quadratic Funding Starts for Avalanche Community Grants The Avalanche Community Grants Program is underway, and voting began for this first round of 25 selected projects! The first Quadratic Funding Round is open, allowing anyone to donate to these projects, which will in turn decide how matching funds from the Avalanche Foundation are allocated. View the Grantees here. Avalanche Integrates with Stripe for Crypto Onramping Stripe, a financial infrastructure platform for businesses with a fiat-to-crypto onramp, now supports the Avalanche C-Chain. Retail users can purchase AVAX directly through Stripe, removing the need to go through an exchange. Available to U.S. Stripe’s fiat-to-crypto onramp is a customizable widget embedded into Avalanche dApps, such as DEXes, NFT platforms, and digital wallets. Stripe’s onramp will provide a direct way for users to easily and quickly fund their wallets with AVAX and other supported tokens, and several leading Avalanche ecosystem partners have already indicated that they will be integrating with Stripe. Learn more here. Enterprise & Institutions Homium Issues First Home Equity Loans on Avalanche Homium, Inc., a home equity mortgage lender and securitization platform, has launched its tokenized home equity loans on Avalanche. Homium’s shared appreciation home equity loans provide homeowners with a novel way to borrow against their home equity without increasing their monthly debt burden. Homium’s launch of home equity loans on Avalanche reflects the continued strong growth of the asset tokenization space and on-chain finance (OnFi) within the Avalanche ecosystem. Learn more here. stc Bahrain Launches a Custom Subnet stc Bahrain, a subsidiary of stc Group, the most valuable telecom brand in the Middle East, is deploying its own Avalanche Subnet as part of its Web3 Launchpad Program, to build a dynamic ecosystem that accelerates Web3 adoption in the region. As an Avalanche builder, supporter, and official ambassador in MENA, stc Bahrain will spur the greater adoption of Web3 on Avalanche in the region. This will entail fostering innovation and driving community engagement via co-marketing, conferences, hackathons, and related efforts. Learn more here. Coachella to Gamify the Festival Experience and Distribute New Rewards Using Avalanche The Coachella Valley Music and Arts Festival launched Coachella Quests, a new Avalanche-powered loyalty game rewarding festival-goers for participating in virtual and physical Coachella experiences. Coachella Quests harnesses Web3 to broaden the festival experience, blending IRL and digital, and increase fan engagement while driving long-term loyalty. In tandem with the online game, Coachella hosted an on-site Avalanche activation, bridging Coachella's Web3 offerings with the physical world. Attendees redeemed Stamps, explored art installations, learned about the game, and linked up with fellow players. Learn more here. Gaming RumbleKongs Announces Partnership With Gatorade Gatorade’s integration will begin with the addition of the “G-Machine,” a vending machine that lets players unlock digital collectibles—including wearable items—using G-Coins earned for completing quests. The G-Machine experience is available now on the project website ahead of the iOS and Android game’s planned launch this summer. Learn more here. Gunzilla Games Announces Integration of its GUNZ Blockchain Into OpenSea Marketplace GUNZ will be the 9th blockchain natively supported by OpenSea NFT Marketplace, allowing users to trade in-game items from any game built atop the GUNZ platform. Gunzilla Games, the AAA game studio and developer of the GUNZ blockchain announces the native integration of GUNZ with OpenSea, making GUNZ the 9th blockchain to be supported by the leading peer-to-peer NFT marketplace. GUNZ, built on a custom Avalanсhe Subnet, empowers AAA game developers with the tools to build player-driven economies by providing players full ownership of in-game assets as tradeable NFTs. Learn more here. Shrapnel and DeFi Kingdoms are two of the first Avalanche Subnets to utilize the new Stripe integration for Crypto Onramping Stripe aims to address the "cold start problem" faced by Web3 companies, which occurs when customers don't have enough funds in their wallets to carry out transactions on the platform. Stripe handles all the KYC, payments, fraud, and compliance. Stripe’s onramp will provide a direct way for users to easily and quickly fund their wallets with AVAX and other supported tokens. Learn more here. NFTs & Culture zeroone Deploys Subnet & Teases Mobile App Popular artist platform zeroone launched its dedicated Avalanche Subnet at the beginning of the month. When implemented, the gasless Subnet will significantly reduce operating costs for the platform, allowing it to continue its mission as a “cultural distribution engine.” Additionally, the platform previewed its forthcoming mobile app this month. Optimized for iOS & Android, the mobile experience will boast the same features as the desktop website. The app remains completely free to use and accessible using traditional Web2 logins. Experimental AI Art Platform, Kojii, Launches Creating an innovative model for AI Art, the new NFT platform Kojii launched, powered by Avalanche. Kojii presents AI models as art itself. The platform teamed up with nine artists to sculpt nine AI models. Each model contains an infinite visual world created by one artist and co-developed alongside a developer team. Working in tandem with artists, the platform represents an ethical way to utilize AI in art, while also giving users novel control in the process. Collectors can change various inputs on each AI model to create & mint countless unique pieces based on one artist’s visual style. Explore the platform here. More NFTs & Culture Highlights
Infrastructure & Enablement ACP-77: Reinventing Subnets Ava Labs Engineer Dhruba Basu proposed ACP-77, defining a path towards improved Subnet sovereignty. The proposal includes removing the AVAX staking requirements for Subnet validators and allowing them to only sync the P-Chain as opposed to the entire primary network. This should dramatically reduce the barrier to entry for Subnet builders and increase adoption. Learn more here. NodeKit Introduces Javelin to Improve Cross Rollup Composability NodeKit, a decentralized sequencer and composability layer for rollups, built on top of Avalanche, continues on its mission to improve rollups by introducing Javelin. Javelin enables cross-chain rollup transactions to be atomically executed, enabling use-cases such as cross-chain lending and DEX aggregation. Learn more here. More Infrastructure & Enablement Highlights ICYMI: Avalanche Sessions
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