Inside: 2023 ecosystem highlights, new Subnets including Hubble, Tiltyard, and Nodekit, the Teleporter developer preview, and more.
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The Avalanche Snow Report: December 2023

Your November roundup of highlights from across the Avalanche ecosystem is here!

This issue: highlights of 2023 from across the Avalanche ecosystem, new Subnets from Hubble, Tiltyard, Nodekit, Mirai Labs, and Masafi, plus the Teleporter developer preview, and more.

Have feedback or want to learn more? Please contact luke.chmiel@avalabs.org.

Network Highlights

Avalanche Network Ends 2023 With New Record Highs

Avalanche closed out the year with new all-time highs for both monthly active users and for the number of validators on the network.

Subnets were a meaningful driver of the broader network's growth in 2023:

  • Subnets with validators: 20 → 34
  • Subnet validators: 111 → 240
  • Subnet/Primary network validator ratio: 4.9% → 14.1%
  • Subnet/Primary network stake ratio: 0.07% → 0.29%

See more stats about subnets here.

Teleporter Developer Preview Is Here

Anyone can now create a local Avalanche Warp-Enabled Devnet (Primary Network + 3 Subnets), spin up an AWM-Relayer, and deploy Teleporter with a single command. After everything starts up (~180 seconds), you can transfer a token from C-Chain to Subnet and back to C-Chain with a single command. Once you run through the basics, you can extend this example with your own contracts. Read more from Patrick O’Grady here.

DeFi

Hubble Subnet Launch

Hubble Exchange, a new decentralized exchange built on an Avalanche Subnet, has launched its perpetuals platform, enabling a key innovation: a fully decentralized matching and liquidation engine.

Hubble’s decentralized order book comes with a UX that resembles centralized exchanges, keeps the composability and transparency of decentralized platforms, and USDC as a gas token. Read more here.

NodeKit Raises $1.2M Pre-Seed Round to Build Shared Sequencer Subnet

NodeKit, the team developing SEQ, a shared sequencer L1 built on an Avalanche Subnet that will leverage the HyperSDK, has raised $1.2M in a pre-seed round. The team is using funding to help decentralize the next generation of rollups powered by SEQ. Read more here.

More DeFi Highlights

  • The QI/USDC pair is now live on Dexalot
  • Movement Labs announced a new partnership with Pyth
  • FWX Mainnet is now live
  • Circle released Faucet, a fast, free, and permissionless platform to get testnet USDC or EURC tokens for your testing and deployment needs on Avalanche
  • Cross Chain Swaps are live on Matcha, allowing users to swap across 7 different chains, tap into liquidity across 100+ DEXs, and retain self-custody of assets
  • Get familiar with BENQI Liquid Staking

Enterprise & Institutional

Institutional Highlights For 2023

From building at the infrastructure layer with Subnets to working with some of the world's largest TradFi institutions showcasing the benefits of tokenization, this year saw tremendous growth towards a more efficient, scalable and interoperable financial system on-chain. The 2023 journey to digitizing the world's assets and bringing them on-chain:

  • Rollout of Evergreen Subnets
  • Launch of Spruce testnet
  • Project Guardian collaborations with J.P. Morgan and Citi
  • Debut of the Avalanche Vista program

These are just a few of the 2023 highlights for institutions building on Avalanche. Read more about these and more here.

Republic Note Live For Trading On INX

The Republic Note went live on INX, aiming to democratize investing in private equity and venture capital by offering access to the $5 trillion world of private equity previously reserved for ultra-high-net worth and institutional investors. Republic’s flagship digital asset:

  • Is backed by a portfolio of 600+ companies
  • Has no accreditation and no required holding period
  • Boasts a revenue-sharing pool that is distributed every time it reaches $2 million

You can learn more about the Note on Money Moves Ep7: Launch of the Republic Note, with INX and Republic.

More Enterprise & Institutions Highlights

  • AvaCloud customers can now launch custom block explorers to accommodate any business need, alongside Avalanche Subnets
  • Leaders from Citi, T. Rowe Price, and Fidelity came on Powering Business with Blockchain to share the results of testing Avalanche infrastructure with AvaCloud to price and execute simulated FX trade
  • HiYield is live offering competitive on-chain Treasury Bill rates & USDC lending rates against Treasury Bills
  • The Institute of Electrical and Electronics Engineers, with 75k+ members in India, will issue IEEE credentials and certificates on the Avalanche C-Chain to make the verification process tamper-proof, instant, and secure

Gaming

Gaming Highlights For 2023

Gaming highlights for 2023 featured new subnets from TSM’s Blitz App, Merit Circle, SHRAPNEL, Gunzilla Games, and more. You can read more about all of the gaming highlights here.

Team Behind Crypto Raiders Bringing Tiltyard To Avalanche Subnet

Tiltyard, a new platform from the creators of the popular Crypto Raiders, is bringing their novel approach to on-chain gaming to an Avalanche Subnet. Created by Tiltyard itself, the platform's first game will be Midnight Heist, a 100% on-chain, card-based strategy game mixing “team fight tactics with the strategy and feel of Rainbow Six Siege.” Read on here.

Mirai Labs Launches Dedicated Subnet

Mirai Labs, creator of popular games Pegaxy & Petopia, is migrating its operations to the Mirai Chain, a new Avalanche Subnet. They’re bringing their innovative GuildTech program with them, mixing elements of SocialFi with esports. The Mirai Subnet is already live and will host Mirai’s full slate of offerings: the free-to-play racing game Pegaxy, Petopia with its new SocialFi esports-style integration, the native token PGX, Mirai ID, the Mirai App, and Mirai Pay. Read more about it here.

More Gaming Highlights

  • The team developing the OWNED.gg platform, unix gaming, moved to the Avalanche C-chain
  • Adil Virani shared that the BOLTS token for TSM's Blitz App subnet is coming soon

NFTs & Culture

Art & Culture Highlights for 2023

From the first class of Avaissance Artists in Residence to entering Hyperspace, it’s been an eventful year for NFTs & Culture on Avalanche. Explore the highlights here.

Culture Catalyst To Purchase Select Avalanche-Based Memecoins

Last year, the Avalanche Foundation launched Culture Catalyst, a program aimed at empowering creators, sparking innovation, and propelling the adoption of blockchains. This initiative seeks to better position Avalanche to cultivate and support the many new forms of creativity, culture, and lifestyle that blockchain enables.

The Avalanche Foundation intends to start using Culture Catalyst to recognize and encourage the culture and fun symbolized by meme coins by purchasing select Avalanche-based meme coins to create a collection. This move complements the Avalanche Foundation's ongoing engagement across the Avalanche ecosystem, including NFTs, RWAs, and other types of cryptoassets, broadening its portfolio to embrace a more complete spectrum of possibilities. Read the full announcement here.

AR Platform Really Launches ‘Fandime’ NFTs For Moviegoers

Really (formerly Moviebill), an AR platform providing digital collectible movie tickets and interactive experiences related to the latest blockbuster films, announced a partnership with Avalanche to help power its “Fandime” NFTs. The company also announced its expansion of AR collectible tickets to cinema partners in the Asia-Pacific region, including Japan, Korea, Australia, the Philippines, Thailand, Malaysia and Singapore. Read more here.

More NFTs & Culture Highlights

  • Rebase is bringing Avalanche-based digital assets to the real world
  • Hyperspace Season 2 Claim on January 4, 2024
  • Top-tier collections and leaders from the Avalanche ecosystem are now live on Inspect
  • AssetDash just added portfolio tracking for Avalanche NFTs, giving users another comprehensive tool for managing assets and collections

Infrastructure & Enablement

Consumer Product 2023 Highlights

The primary focus for the Ava Labs Product Team in 2023 was to build products and services that elevate both the developer and user experience for the Avalanche ecosystem and beyond. This included a slew of upgrades to the Core product suite as well as upgraded explorers built in-house for the Avalanche X-, C-, and P-chains. Take a trip back through the biggest consumer product moments of 2023.

Core Seed Abstraction

Core has gone seedless! Core now offers a simplified wallet experience without seed phrases,security tradeoffs, or custody tradeoffs. The Core team worked with Cubist to build Core on top of CubeSigner, a non-custodial signing service that provides secure social logins and handles keys inside secure hardware. Learn about the security architecture that underlies Core’s new seedless design, beginning with the technical and ending with the human, here.

More Infrastructure & Enablement Highlights

  • Paal AI is now integrated with Avalanche, allowing users to effortlessly interact with Avalanche Network through simple, natural language prompts
  • Sonarverse announced complete on-chain coverage of Avalanche directly out of Snowflake
  • Ava Labs is moving the Avalanche bug bounty program to ImmuneFi to activate code reviews from one of the largest community of Web3 bug bounty finders

ICYMI: Avalanche Sessions

  • Kevin Sekniqi and Patrick O'Grady went on the Empire podcast to break down the Avalanche vision
  • The Taipei Blockchain Week hackathon introduced some incredible talent to the Avalanche ecosystem
  • Join us on Monday, January 8th, for an insightful conversation on Raising Capital & Finding Product-Market Fit in web3, featuring Vikram Bharati, Founder of Draper Startup House, Steven Gates, Founder & CEO of GoGoPool, and Michael Martin, Director of Codebase by Avalanche
  • Full recap video from Avalanche House Seoul at Korea Blockchain Week
  • OnChain with Sirer: 2023 Wrap Up
  • Avalanche Developer Community Call: Inscriptions and Fee Mechanism Design
  • Avalanche was a lead sponsor for India Blockchain Week, where Emin Gün Sirer and Devika Mittal gave keynote speeches
  • Morgan Krupetsky joined Nasdaq Trade Talks to discuss how tokenized assets can be regulated similarly to securities
  • Luigi D'Onorio DeMeo joined Patrick from Dynamo DeFi for a discussion on the future of DeFi, and the state of the Avalanche ecosystem
  • The Future of Hospitality & Travel Research Report

This email is for informational purposes only and is not intended to provide, and should not be relied on for tax, legal, investment, financial, or other advice. Any references to third party platforms or projects is not an endorsement by the Avalanche Foundation Limited, Ava Labs, Inc., or any of their respective affiliates or subsidiaries. The information contained in this email is current as of the date hereof and is subject to change without notification. Please review this Important Notice.

 

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