Overview of Avalanche’s ecological landscape: More than half of the top 10 applications with locked positions are Avalanche’s native DApps
Original Author: Frank
Since its inception in 2020, Avalanche has grown into a vibrant ecosystem with more than 500 Dapps currently in the ecosystem, with a total lock-up of over $4 billion (DefiLlama data as of May 31).
Different from BNB Chain, Solana and other competing public chains and Ethereum similar smart contract routes, Avalanche provides ecological applications with an "application chain" solution similar to Cosmos ecology - Avalanche subnet.
In theory, Avalanche allows the creation of unlimited subnets (Subnet), which is the secret to its network expansion, each subnet (Subnet) can be private (permissioned) or public (permissionless), use the same subnet (that is, have The blockchain with the same validator set) will also be compatible by default, so that it is easier for the project side to expand and deploy, and it can also ensure security.
And with DeFi Kingdoms choosing to launch the Avalanche subnet in April, realizing the expansion from smart contracts on Harmony to the Avalanche subnet, the Avalanche subnet has gained widespread attention from the industry.
《In-depth interpretation of Avalanche: from EVM-compatible L1 to "subnet pioneer"" mentioned in the article,With the promotion of subnets, Avalanche has gradually evolved from another "Ethereum killer" to a "subnet pioneer"。
Avalanche ecological feature project
Compared with competing public chains such as Polygon, Fantom, and Harmony, in addition to Aave, which ranks first in the lockup volume in the Avalanche ecosystem, DeFi applications deployed on multiple chains such as Curve and SushiSwap are not outstanding, but Trader Joe and Platypus Finance , Benqi and other native DApps on Avalanche are in the forefront.
Trader Joe
Trader Joe is a decentralized exchange on Avalanche. It provides lending services through Banker Joe. Users can mortgage JOE (project token) to obtain xJOE. Users can get part of the transaction fees. Users can provide liquidity on Traderoe DEX to earn With JOE tokens, JOE holders can also vote for governance proposals.
Platypus Finance
Platypus Finance is a stablecoin AMM on Avalanche, which provides stablecoin trading services with low slippage like Curve. There are many ways to obtain income through Platypus, and its token economics is also different from Curve, which encourages long-term holders of PTP.
BENQI
BENQI is a decentralized non-custodial liquidity market protocol on Avalanche, which expands DeFi through a suite of yield-generating products. The platform provides a lending market where users can borrow and lend digital assets.
Yeti Finance
Yeti Finance is a decentralized lending protocol built on Avalanche, which allows users to pledge LP token combinations, sJOE, sAVAX and other assets for borrowing, and all loan interest rates are 0%. When the underlying assets are deposited into the Yeti Finance platform, users can keep all farming and staking rewards, enabling a leveraged farming strategy.
Wonderland
Wonderland is the first decentralized reserve currency protocol based on TIME tokens on the Avalanche network. Each TIME token is backed by a basket of assets (such as MIM, TIME-AVAX LP tokens, etc.) Staking and minting introduces economic and game-theoretic dynamics to the market.
Yield Yak
Yield Yak is a decentralized aggregator that relies entirely on smart contract execution. The aggregation logic is all on-chain, and anyone can conduct transactions and queries without the assistance of a centralized organization. Projects that apply it can develop and deploy unique aggregator front-ends, and developers can develop different versions according to specific application scenarios.
Vector Finance
Vector Finance is a symbiotic protocol with Platypus Finance. It provides users with higher stablecoin returns from Platypus Finance without owning PTP tokens.
DeFi Kingdoms（Crystalvale）
DeFi Kingdom is a game that combines P2E games and DeFi. It started on the Harmony blockchain and began to expand to other chains after the number of users exploded. It was previously announced on April 1 that the subnet DFK Chain will be running on Avalanche, named Crystalvale, and the game's token JEWEL will be used for all transactions on the subnet chain.
Crabada
Cross-chain bridge
Cross-chain bridge
In addition to specialized Avalanche ecological cross-chain bridges such as Avalanche Bridge (Beta), almost most of the current mainstream cross-chain bridges also support Avalanche's EVM compatible chain (C chain), including Hop, Synapse, Celer Bridge, Connext, LI. FI, LayerSwap, O3 Swap, Orbiter, Poly Network, Via Protocol, Stargate, etc., the author only introduces some of them.
Avalanche Bridge（Beta）
Avalanche Bridge (Beta) is the official cross-chain bridge developed by Ava Labs, currently only supports cross-chain transfer of assets between Avalanche and Ethereum.
Synapse
Synapse Protocol is upgraded and renamed from the original anonymous cross-chain liquidity protocol Nerve Finance. It adopts cross-chain multi-party computation (MPC) verifier and threshold signature scheme (TSS), and currently supports bridging and swapping between all major EVM-compatible chains , including Ethereum, BNB Chain, Polygon, Avalanche, Arbitrum, Optimism, Aurora, Boba Network, Moonbeam, Moonriver, Fantom, and Harmony.
XP.NETWORK
XP.NETWORK is an NFT multi-chain bridge that allows users to transfer NFT between Aurora, Ethereum, Avalanche, Polygon and other blockchains.
Wrapped
Wrapped is a technology provider for wrapping Layer1 assets. It is a collaboration between Tokensoft and qualified custodians, aiming to provide high-quality custody, management and compliance solutions for wrapped assets.
Router Protocol
Router Protocol is a cross-chain infrastructure that supports cross-chain transfers and exchanges. The currently integrated networks include Ethereum, Avalanche, Fantom, Polygon, BNB Chain, Optimism, and Arbitrum.
BoringDAO
BoringDAO currently supports asset transfer or cross-chain between 14 networks including Ethereum, Arbitrum, BNB Chain, Polygon, and Optimism.
SCOTTY BEAM
SCOTTY BEAM is an NFT multi-chain bridge that allows users to transfer NFTs between blockchains such as Ethereum, BNB Chain, Polygon, Avalanche, Fantom, and Solana.
Other high TVL projects in Avalanche ecology
According to DeFiLlama data, more than half of the top 10 applications in Avalanche's ecological lock-up volume are Avalanche's native DApps, and the TVL is more than 100 million US dollars, and the development is relatively diversified.
In addition to the above projects, the top 20 TVL projects currently include Trader Joe, Curve, Stargate, Benqi Staked Avax (SAVAX), GMX, Homora, Echidna Finance, Pangolin, Synapse, Beefy Finance, RadioShack, and Sushiswap.
With the expansion of the subnet, Avalanche's subsequent development path is also worthy of our consideration, especially whether it can benefit from the balance of scalability, deployment costs, and security, and gradually attract more in the competition of public chains. project innovation and capital precipitation?
