Avalanche Weekly Recap Week 40 (29/9 – 5/10)

Published by AVAX on September 25, 2023

This week, Avalanche received a lot of positive news from many projects, and the ecosystem is moving forward every day. Let’s take a look at the highlighted news as well as the important numbers of the week.

TL;DR

Avalanche C-Chain Daily Gas Usage remains high
Avalanche introduce Banff: Elastic Subnets
Cask integrates TraderJoe
The Avalanche Explorer has added an important new feature, the Contract Info Submission
Avalanche has arrived on THORSwap
MetaDerby will be deployed on Klaytn
$PNG is officially live on Coinbase

Ecosystem Updates

This week, the on-chain indices are not as explosive as in previous weeks. However, projects in this ecosystem have notable collaborations as well as some important announcements, don’t miss it.

Avalanche On-chain Data Highlights

Weekly total transactions: 12,552,593
Weekly Max TPS Observed: 246
Weekly Gas Used: 4,686,943,651,916
Highest Daily Gas Usage: 678,003,796,765
Highest Daily Transaction Count: 1,655,629

Avalanche C-Chain Daily Gas Usage remains high

This week, the volume of transactions decreased sharply compared to the previous week. However, it is worth noting that the amount of gas used remains high. And like other weeks, the amount of gas used still mainly comes from the DFK chain.

Avalanche introduce Banff: Elastic Subnets

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Banff unlocks the ability for Subnet creators to activate Proof-of-Stake validation and uptime-based rewards using their own token on their own Subnet. Subnets that choose to enable these new features must undergo a one-time transformation into a new type of Subnet called an Elastic Subnet.

When enabling Elastic Validation, the creator permanently locks the Subnet from future modification (they relinquish their control keys), specifies an Avalanche Native Token (ANT) that validators must use for staking and that will be distributed as staking rewards, and provides a set of parameters that govern how the Subnet’s staking mechanics will work

Read more details here.

Cask integrates TraderJoe

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Thanks to the recent integration of Trader Joe into the Cask platform, Avalanche users can now automatically DCA into their favourite tokens.

The platform supports $JOE, as well as $BTC, $AVAX, $ETH and $LINK.

Read more details here.

The Avalanche Explorer has added an important new feature, the Contract Info Submission

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This submission tool improves the customization for contract deployers, while giving users added confidence that they are interacting with correct contracts

Using this tool, contract owners may submit information about their smart contract to display to users. Having information about your smart contract such as name, logo, resource links, etc… is a great way to increase trust in the smart contract.

Read more details here.

Avalanche has arrived on THORSwap

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THORSwap is truly permissionless, decentralized, & open to all. Simply connect your own self-custody wallet to start swapping.

Trade cross-chain now between AVAX and Native BTC, ETH, BNB, ATOM, RUNE, DOGE, LTC, BCH & 4,800+ ERC20 tokens in 1-click. Avalanche users can also earn yield on $AVAX by providing liquidity paired with THORChain $RUNE.

Read more details here.

MetaDerby will be deployed on Klaytn

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Klaytn is a leading open-source Layer1 public blockchain built for the metaverse

MetaDerby will be deploying on Klaytn blockchain this October after receiving a grant from the Klaytn foundation.

Read more details here.

Pangolin is officially live on Coinbase

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Coinbase is one of the biggest trading and investing online platforms in the USA that offers users the ability to buy, sell, and exchange cryptocurrencies.

Pangolin (PNG) is the first Avalanche ARC-20 token to be offered on coinbase.com.

Read more details here.