Avalanche Weekly Recap | August 1st – August 7th, 2022

This Avalanche weekly recap is for informative purposes only and not investment advice. Let’s have a look at the new updates this week.

Network Growth

Total Value Locked

The Total Value Locked in 7-days has decreased insignificantly by 0.4%, from $4.89 billion to $4.87 billion. The index hardly changed at all due to the low level of participation in Defi in this market condition.

Stablecoin Supply

The total supply of stablecoins on Avalanche is currently $2.59b, Down 1.14% from $2.62b to $2.59b in a week.

In which $USDC accounted for 61.2% with a supply of $1.61b, $USDT accounted for 27.67% with a supply of $737.81m. The rest are other stablecoins, accounting for 11.13%.

Highlight Events

Binance Card Now Supports XRP, SHIB and AVAX

Binance has added XRPSHIB and AVAX to the list of supported cryptocurrencies on Binance Card, effective from 2022-08-05 at 07:00 (UTC).

More information: CLICK HERE

Cask Protocol’s recurring money flows are now live on Avalanche

Cask, the recurring money flow protocol, is expanding their capabilities to Avalanche to allow dApps and communities to accept recurring crypto payments. Whether you are a dApp, NFT projects, or community on Avalanche you are now able to start accepting recurring crypto payments or contributions.

More information: CLICK HERE

Avalanche Foundation supports Atlantis World with a grant

We’re excited to annouce that the Avalanche Foundation has supported Atlantis World with a grant to build a home, hub and showcase for the Avalanche ecosystem in the metaverse!

More information: CLICK HERE

DeFi Lego


$JOE and $QI are now on Wirex

You can now buy, hold, exchange, and spend $QI and $JOE at over 81 million retailers with your Wirex card!

More information: CLICK HERE

Synapse now supports ETH on the DFK chain

With this new functionality, we will be adding in a few ETH pairs. We will also be adding a JEWEL-USDC pair to have more accurate JEWEL pricing on the DFK chain, given its importance to the subnet offering and recent events on Harmony pairs that affected pricing.

More information: CLICK HERE

Hubble Exchange is now live on Mainnet

Hubble Exchange, a perpetual futures exchange on Avalanche, Hubble Exchange, an Avalanche-based exchange for perpetual futures, has announced the launch of its mainnet. In the first month, liquidity providers and traders will be awarded 6m vHubble (0.6% of the total supply). In the future, each vHubble will be exchanged for one Hubble Exchange Token.

More information: CLICK HERE

Yield Aggregator

OH! Finance Announces New Yeti + Curve Strategy on Avalanche

We expect users to earn high APYs on their single-sided native $USDC and $USDT deposits using OH! Finance’s yield optimizer. This strategy has been audited by Watchpug.

More information: CLICK HERE


Degis introduces the next game-changing protection product: Protocol Protection

Observing numerous smart contract hacks and attacks, we’ve decided to develop a protection product that keeps users away from suffering losses in those incidents. Degis Protocol Protection covers most risks that may appear in the decentralized world, and the innovative mechanism covers some blind spots in the current De-Fi insurance market.

More information: CLICK HERE


Snake City is set to launch on Swimmer Network

Swimmer Network is an Avalanche Subnet that is a dedicated gaming blockchain. Swimmer’s growing infrastructure offers advantages such as quicker deployment, lower gas fees, and composability between games.

Snake City’s migration onto Swimmer Network is slated for late August/early September 2022.

More information: CLICK HERE

Heroes of NFT Super-charge Their dApps with SubQuery

Heroes of NFT are using SubQuery to index idle game campaign creation data, with a key focus on finish and reinforcement events. They leverage this data to ease both the user interface and experience in their web frontend. Heroes of NFT credit SubQuery’s WebSocket services for making their user interface more smooth and dynamic.

More information: CLICK HERE


Pulsar – Gamefi: A Sci-Fi MMO Real-Time Strategy with Player-driven Economy

The Fabled – Gamefi: A blockchain-based action RPG. Explore and fight your way through the abyss using your NFT characters Powered by XenumChain


Following the bitcoin rally, the price of AVAX rebounded last week to the $30 range. The projects continue to get positive updates, and no scams or hacks have occurred. However, the TVL has not significantly changed, which indicates that cash flow hasn’t been pumped into the ecosystem in these uncertain market conditions. Stay updated for major announcements next week!

Find more information about Avalanche:

Website: https://www.avax.network/

Whitepaper: https://www.avalabs.org/whitepapers

Twitter: https://twitter.com/avalancheavax

Telegram: https://t.me/avalancheavax

If you have any questions, comments, suggestions, or ideas about the project, please email [email protected].

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.


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