The Avalanche Snow Report: August 2023

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 luke.chmiel@avalabs.org.

Network Highlights

NodeKit Comes Out of Stealth Build

NodeKit is building a shared sequencer L1, SEQ, which helps rollups decentralize their sequencing leading to higher uptime and higher performance. The shared sequencer is being built on an Avalanche Subnet and using the HyperSDK, allowing rollups to generate an additional revenue stream by easily capturing any potential MEV.

Nodekit’s PoC is already integrated with Geth and the team is working on smart contract rollups using OP Stack and Sovereign SDK. Follow their Twitter to keep up with their progress.

Avalanche Set for a Busy Event Calendar This Fall

Members of the Ava Labs team will be attending numerous industry events and conferences in the coming weeks, including Korea Blockchain Week, Token2049, Permissionless, Mainnet 2023, RWA Summit, EthSafari, EthSingapore, Stablecoin Summit, and SmartCon. Please feel free to reach out to the team if you are interested in arranging an in-person meeting or possibly attending an Avalanche-hosted side event.

Additionally, Avalanche Creative Hang has announced two more local events in Atlanta and Mexico for later this fall. The first two meet-ups of the series took place this month in Istanbul and Austin.

DeFi

Dexalot Subnet Earns Multiverse Incentives of Up to $3M

The Avalanche Foundation is providing up to $3 million in AVAX tokens to Dexalot, the central limit order book (CLOB) decentralized exchange (DEX) built on an Avalanche Subnet. The incentives come from Avalanche Multiverse, a comprehensive program nurturing Avalanche Subnet growth and adoption. Learn more here.

GMX V2 Beta Is Live on Avalanche

GMX V2 is now live on Avalanche, introducing new improvements to their original model. These improvements include new assets available for trading, support for multiple types of collateral, faster execution speed and lower slippage, isolated pools, and new mechanisms for OI balancing and swap incentives. Learn more here.

Non-Custodial Options Exchange DBOE Launches on Avalanche

DBOE launched its fully on-chain options order-book on Avalanche, with support for BTC and ETH options. DBOE is a non-custodial exchange, meaning users retain full control of their assets at all times. This eliminates the risk of counterparty default, as users are not required to deposit their assets with a third party. DBOE also uses a central limit order book (CLOB) to provide deep liquidity and efficient pricing.

Enterprise & Institutions

The Block: Tokenization of Off-Chain Assets (OCA) Report

The World Economic Forum predicts the total tokenized market to reach 10% of global GDP by 2030 (WEF, 2023). Tokenized OCAs represent the next stage in the evolution of how value is transferred. A new report by The Block highlights why this asset class is gaining traction and showcases some of the top tokenization projects on Avalanche.

On-Chain Cash Management: Thematic Takeaways From Partner Discussions

After meeting with 100+ partners from across the Avalanche ecosystem, we arrived at a number of key takeaways around treasury management, stablecoin balances, and on-chain yields, that we unpack in a new report, which you can read here.

Join the Conversation, Become a Member of Our PBB LinkedIn Group!

Powering Business with Blockchain’s new Linkedin Group unites crypto natives and those new to the space with the shared goal of educating and exchanging knowledge on the benefits of digital assets, tokenization, and what the future might hold for blockchain technology. Check it out and join the conversation.

Gaming

Rumble Kong League Chooses Avalanche for Its 3v3 Basketball Game

The upcoming 3v3 street basketball-like game from Rumble Kong League (RKL) is making its home on the Avalanche Blockchain, with notable partnerships including CAA Sports and NBA stars like Ty Haliburton, Paul George, and Steph Curry. RKL promises an exciting blend of blockchain technology and sports entertainment.

Gunzilla Games Unveils "Off the Grid" Trailer at Gamescom 2023

Gunzilla Games unveiled an exhilarating trailer for "Off the Grid" during Gamescom 2023. This dystopian Battle Royale game sets itself apart with a compelling narrative progression. The trailer, directed by Neill Blomkamp, offers a sneak peek into the action-packed gameplay and cinematic cut scenes.

NFTs & Culture

Zeroone Launches Experimental “Cultural Distribution Platform”

zeroone is the new artist-focused social platform connecting wallets to social experiences by allowing users to collect works from their favorite artists for free. To ensure that the system is not abused, users must also be creators in order to collect. The beta is live and available for sign-up, but will soon become invite-only. Read more about how to view, create and collect.

Layerr.xyz Expands to Avalanche

NFT Marketplace Layerr.xyz now supports Avalanche artists and collectors. The platform lets artists use a custom URL to create their own profile and minting page, providing a personalized experience for their collectors. The site highlights its efficient smart contract construction to further reduce fees during minting. Learn about the new artists coming to Avalanche through Layerr.

Infrastructure & Enablement

Teleporter Now Available for Testing

Teleporter, a new cross-chain messaging protocol built on top of Avalanche Warp Messaging, is now open for testing. Teleporter is a major step forward for cross-subnet communication and the interoperability of custom blockchains. It provides smart contract developers with an easy, native way to call contracts on other EVM-based chains within Avalanche. For more information, check out a detailed breakdown here.

HyperSDK Multidimensional Fees

Learn about HyperSDK’s Multidimensional Fees from Ava Labs VP of Engineering, Patrick O’Grady, here.

ICYMI: Avalanche Sessions