Author: Deep Tide TechFlow

Recently, the Solana ecosystem has performed extraordinarily well, with the entire ecosystem experiencing a general uptrend, especially with the recent airdrop of Jito, which has attracted the attention of many users to Solana's interactions once again.

When one misses the opportunity of this "Solana" wave, they often seek the next "Solana". Just like when one fails to obtain the BRC inscription, they will go for the Eth\Solana inscription. Whether it makes sense is not important, the priority is to rush in first and then figure it out.

In the previous bull market, Solana led the way in the Alt Layer1, followed by other public chain tokens such as Avalanche and Polygon breaking new highs.

Following this wave of Solana market trends, more and more users are starting to pay attention to the Avalanche ecosystem. AVAX has also recently broken through $30 and risen to 11th place in the rankings. This article will take stock of the latest ecological developments and project situations of Avalanche, hoping to be helpful to friends who are interested in the Avalanche ecosystem.

1. Avalanche Catalyst

From the perspective of the development of the public chain itself, Avalanche's biggest progress is in the direction of RWA and cooperation with enterprises. The following image lists financial institutions that are currently using or testing Avalanche, including:

1-Fidelity: Located in Boston, it is a leader in asset management and brokerage services, managing assets of approximately $42 trillion. 2-JPMorgan Chase & Co.: Located in New York, it is a renowned global investment bank and financial services provider, managing assets of approximately $26 trillion. 3-Wellington Management: Located in Boston, it is a major participant in mutual funds and institutional management, managing assets of approximately $14 trillion. 4-T.Rowe Price: Located in Baltimore, it is a globally recognized active investment management company, managing assets of approximately $13.1 trillion. 5-KKR: Located in New York, it is a global investment firm with influence in the private equity field, managing assets of approximately $429 billion. 6-Apollo: Located in New York, it is a highly regarded alternative investment management company, managing assets of approximately $461 billion. 7-WisdomTree: Located in New York, it is known for ETFs and innovative investment solutions, managing assets of approximately $75.5 billion. 8-ANZ: Located in Australia, it is one of the country's largest banks and holds a significant position in the financial services field, not primarily based on assets under management (AUM). 9-Citi: Located in New York, it holds an important position in consumer banking and the global financial field, not primarily based on assets under management (AUM). 10-Republic: Located in New York, it is a leading Web3 platform focused on private investment and securities, with unspecified assets under management.

In addition, Avalanche has also partnered with top global enterprises such as IEEE, TSM, and ST.

The aforementioned partnerships are closely related to Avalanche's strong emphasis on compliance. Not long ago, the SEC released a list of tokens defined as securities, including SOL, MATIC, and many other leading public chain projects, but AVAX was not among them.

Combined with Avalanche's characteristic of customizable subnets, it is still possible to expect more enterprises to cooperate with it in the future.

2. DeFi

Traderjoe: The largest DEX on Avalanche

Speaking of DeFi, the majority of trading volume on Avalanche occurs on Traderjoe. Based on data from November 12th to November 18th, Traderjoe's volume on Avalanche accounted for 67%, making it the well-deserved top DEX.

TraderJoe was established in 2021 and underwent a comprehensive rebranding earlier this year, while also launching the Liquity book on its product and performing well during the arbitrum airdrop period.

Regarding future development, the co-founder has recently publicly shared some plans on Twitter. However, for users, the most direct space to participate in the near future is the Layerzero airdrop.

Currently, $JOE has been deployed on Avalanche, arbitrum, and BNB Chain, and users can use the Bridge button on the official website's homepage to cross their $JOE to different chains. Layerzero provides cross-chain solutions for $JOE.

Steakhut: Liquidity management solution based on Trader Joe

SteakHut provides an automated liquidity management solution for LPs, initially serving TraderJoe. Thanks to TraderJoe's recent gains, SteakHut's token $STEAK has also seen a 400% to 500% increase within a month.

Recently, SteakHut has also completed its seed round of financing and will expand its vision to provide better liquidity management solutions for the entire Avalanche ecosystem.

Benqi: The largest lending and liquidity staking protocol on Avalanche

Benqi is one of the most important protocols in the Avalanche ecosystem, providing lending and liquidity staking services for Avalanche, and currently has the highest TVL in the Avalanche ecosystem.

Benqi has a long history in the Avalanche ecosystem, and whenever $AVAX performs well, its token $QI often receives more attention. Additionally, $QI is the only token in the Avalanche ecosystem that has been listed on Coinbase.

3. GameFi

Shrapnel: The hottest AAA chain game on Avalanche

Shrapnel is a project launched in early 2022, and the game has recently gained popularity mainly due to the upward trend of its token $SHRAP, with a current FDV exceeding 1 billion.

Shrapnel has released some promotional videos and has received positive feedback from offline testing at many Avalanche events. Additionally, two months ago, the project secured another $20 million in funding led by Polychain.

Due to Shrapnel's influence, more and more users are starting to pay attention to the gaming ecosystem on Avalanche. However, apart from Shrapnel, there are currently no particularly outstanding games. Previously, the highly anticipated Defikingdoms and Ascenders experienced situations of online bugs and soft rugs.

However, based on the current community's enthusiasm, games such as Off The Grid (launched by Gunzilla Games), BloodLoop, and Defikingdom are more discussed within the community.

4. NFT

Dokyo: The hottest NFT in the Avalanche ecosystem

If you pay attention to the Avalanche ecosystem, you will see many people using Dokyo avatars. There are a total of 5,555 NFTs, with a current floor price of 37.5 $AVAX, and the known founding team member is 0xBrando.

Smol joes/Joe Hat: NFT projects launched by the TraderJoe team

The TraderJoe team also launched their NFT platform Joepegs and secured millions of dollars in funding from FTX and Avalanche. They subsequently launched multiple NFT projects, but the core developments currently only include Smol Joes and Peon.

In addition, back in 2021, the TraderJoe team launched the Joe Hat project, similar to unisocks by uniswap, with a total of 150 tokens. Owning $HAT allows the exchange for a real-world hat.

Recently, Joe Hat has been hyped by "mysterious forces," and its price has reached an all-time high. It has also generated high discussion on Avalanche. However, the market fluctuates greatly, so cautious attention is advised.

5. meme

Husky: The Bonk of Avalanche

Husky is the first "dog" on Avalanche and is almost universally known as a meme project.

The project has been launched for over two years, but it has recently experienced a very exaggerated increase in discussion when it comes to Avalanche memes.

Coq: The newest meme, only online for 3 days

$COQ is a meme project launched by @WojakSatoshi on December 8th. After the project went live, the community's enthusiasm surged, and it has been on an upward trend, with a current FDV of 28 million, surpassing Husky.

Bear: The "dog" of Avalanche's co-founder

$BEAR was released on December 9th, originating from Avalanche co-founder Kevin posting his dog on social media, named "BEAR," leading to users creating a meme named "BEAR."

The project has only been online for one day and has experienced significant market fluctuations. This is shared for informational purposes only and does not constitute investment advice.

6. Others

Colony: Aggregation platform supporting early projects on Avalanche

Colony, launched in 2021, has recently gained widespread attention primarily because Colony has launched a plan for a $10 million Avalanche ecosystem fund to support the development of Avalanche ecosystem projects. This is due to Colony's accumulation of $AVAX tokens during the bear market, with the treasury currently holding over 500,000 $AVAX, valued at approximately $15 million.

The Colony token $CLY has also recently seen a 385.5% increase, with a current market value of 24 million and an FDV of 38 million. Holding $CLY tokens and staking them will provide opportunities to:

1- Participate in early investments in projects supported by Colony

2- Receive airdrops from Colony investment projects

3- Receive incentives from Avalanche validators

4- Receive airdrops of $CAI ($CAI is an Avalanche index fund launched by Colony)

5- Receive airdrops of $CLY (from Colony's protocol income, such as unstake fees)

Aval: The most well-known inscription on Avalanche

Following the trend of inscriptions on other public chains, Avalanche has also launched the asc-20 token, with the most discussed in the community being aval. Currently, the OTC price is 0.2u, with moderate popularity.

Hyperspace: New NFT platform, can earn points by completing tasks

Hyperspace is a well-known cross-chain NFT platform that has launched an activity on Avalanche where users can earn points by completing tasks and receive rewards in $AVAX. In the recently concluded Season 1, over one million dollars in incentives were distributed.

However, there were previous announcements of over one million $AVAX rewards, which significantly differs from the current incentive amount, leading to some FUD in the community. Additionally, Season 2 has already begun.

Fitfi: StepN on Avalanche

StepApp is a shoe imitation platform on Avalanche, and recently, some Avalanche users have started discussing it due to a rebranding plan. Its token $FITFI has also increased by 95% in the last 30 days.

After several years of development, the Avalanche ecosystem currently has over 350 protocols and applications. However, many projects have gradually ceased operations or experienced soft rugs. The following provides a relatively complete overview of the projects in the Avalanche ecosystem.

Please note that this article is only a summary of key information and does not constitute any investment advice. Interested individuals are also welcome to join the Avalanche community group (link) to share and discuss.

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