This Week in Avalanche, August 20, 2021
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Avalanche Major News
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Avalanche Foundation announced $180m DeFi incentive program dubbed Avalanche Rush, which will be used to incentivize providing liquidity for Aave and Curve
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BENQI, the first lending protocol on Avalanche, launches and reaches 800M TVL
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Avalaunch, a premier launchpad on Avalanche, announces its first IDO with YAY Games
Stats
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56.72 staking ratio (219,709,514) – down 0.96% from last week
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~10.30% current staking reward per year
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1037 Validators – up 8 from last week
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Over $6B volume has been traded on Pangolin
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Around $1.5B has been locked on Avalanche DeFi protocols
Ecosystem
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Avalanche announced partnership with RugDoc, which will bring community audits to Avalanche DeFi projects
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YAY Games, a decentralized gaming marketplace, will be the first IDO on Avalaunch
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0xtracker.app, which is a cross-chain portfolio tracker, added YieldYak
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Three Arrows Capital added AVAX to their portfolio
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Lydia Finance will get listed on BitMart Exchange
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Avaware announced their new project Tip.Blue, which will allow people to send tips on Twitter & Discord using Avalanche tokens
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Argon, a blockchain-based freelancer platform, might integrate Avalanche
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Colony, an upcoming “ecosystem accelerator”, shared their goals
DeFi
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Most AMMs and yield aggregators have migrated their liquidity to the new bridge tokens
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If you hold any liquidity pairs of the old bridge tokens, migrate them to not miss out any rewards
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Pay attention to not pick old bridge tokens when swapping because they might not have the correct market price
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BENQI, first lending protocol on Avalanche, launched and already secured shy of one billion dollars of liquidity
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KUU, the new liquidity protocol by Rome Blockchain Labs, went live and secured more than $1mil liquidity
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Pangolin adds rewards pools for QI, WALBT, and DYP tokens
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Weble launched a BSC bridge for their WET token
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Snowball launched their new stablevault which holds 4 different stablecoins
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Snowball has started boosting SNOB rewards by 1.5x which will last for two weeks
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Penguin Finance announced that VSO will be the first token to be rewarded on their xPEFI staking protocol Club Penguin
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Elknet and ElkDex launched
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Pangolin reaches a record 5B total volume and 400M+ TVL
Games & NFTs
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Snowflake Marketplace shared a sneak peek of their new UI
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Hatchy Pocket announced to release 3D-printable versions of their monster NFTs
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PixelPress, an upcoming on-chain pixel art NFT drawing and minting dapp, shared their current progress
Partnerships
Airdrops & Giveaways
Interested in the projects mentioned above? You can use Coin98 Mobile Wallet to trade the native tokens of these projects.
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BENQI launched a bug bounty program on Immunefi
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Open Defi Hackathon is offering $30k in bounties
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$50k Developer Tutorial Contest is still ongoing
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AvalancheJS v3.8.5 went live
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Avash v1.1.10 went live
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AvalancheGo v1.5.0, which enables dynamic fees on c-chain, went live on Fuji testnet, and Mainnet activation code has been released
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Avme.io will have bug bounty for the upcoming version of their wallet
Podcasts, Inteviews & Misc
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Subnet Podcast feat. Avalanche Bridge developer Michael Kaplan
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Avalanche Market Update and Avalanche Rally Continues videos by Benjamin Cowen
About the newsletter
This Week in Avalanche is an independent newsletter tracking what’s happening in the Avalanche ecosystem. Inclusion of a project or token is not intended as endorsement (DYOR). If you have suggestions or feedback you can reach out on Twitter: @WeekInAvalanche
Special thanks to everyone who helped curate content:
Efe (efe.kim) @BestCoderNA
