This Week in Avalanche, August 20, 2021

This Week In Avalanche

Aug 21

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Avalanche Major News

Avalanche Foundation announced $180m DeFi incentive program dubbed Avalanche Rush, which will be used to incentivize providing liquidity for Aave and Curve
BENQI, the first lending protocol on Avalanche, launches and reaches 800M TVL
Avalaunch, a premier launchpad on Avalanche, announces its first IDO with YAY Games

Stats

56.72 staking ratio (219,709,514) - down 0.96% from last week
~10.30% current staking reward per year
1037 Validators - up 8 from last week
+150k daily transactions
Over $6B volume has been traded on Pangolin
Around $1.5B has been locked on Avalanche DeFi protocols

Ecosystem

Avalanche announced partnership with RugDoc, which will bring community audits to Avalanche DeFi projects
YAY Games, a decentralized gaming marketplace, will be the first IDO on Avalaunch
0xtracker.app, which is a cross-chain portfolio tracker, added YieldYak
Three Arrows Capital added AVAX to their portfolio
BENQI got listed on Kucoin exchange
Lydia Finance will get listed on BitMart Exchange
AVME announced to launch a mobile version of their wallet
Avaware announced their new project Tip.Blue, which will allow people to send tips on Twitter & Discord using Avalanche tokens
Argon, a blockchain-based freelancer platform, might integrate Avalanche
Colony, an upcoming “ecosystem accelerator”, shared their goals

DeFi

Most AMMs and yield aggregators have migrated their liquidity to the new bridge tokens
- If you hold any liquidity pairs of the old bridge tokens, migrate them to not miss out any rewards
- Pay attention to not pick old bridge tokens when swapping because they might not have the correct market price
BENQI, first lending protocol on Avalanche, launched and already secured shy of one billion dollars of liquidity
- Details of the mining incentives
- Token sale distribution
KUU, the new liquidity protocol by Rome Blockchain Labs, went live and secured more than $1mil liquidity
Pangolin adds rewards pools for QI, WALBT, and DYP tokens
Weble launched a BSC bridge for their WET token
Snowball launched the first yeild optimizer for QI
Snowball launched their new stablevault which holds 4 different stablecoins
Snowball has started boosting SNOB rewards by 1.5x which will last for two weeks
Penguin Finance announced that VSO will be the first token to be rewarded on their xPEFI staking protocol Club Penguin
Elknet and ElkDex launched
Pangolin reaches a record 5B total volume and 400M+ TVL

Games & NFTs

Snowflake Marketplace shared a sneak peek of their new UI
Hatchy Pocket announced to release 3D-printable versions of their monster NFTs
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.

Stuff for Devs

BENQI launched a bug bounty program on Immunefi
Open Defi Hackathon is offering $30k in bounties
$50k Developer Tutorial Contest is still ongoing
AvalancheJS v3.8.5 went live
Avash v1.1.10 went live
AvalancheGo v1.5.0, which enables dynamic fees on c-chain, went live on Fuji testnet, and Mainnet activation code has been released
Avme.io will have bug bounty for the upcoming version of their wallet

Podcasts, Inteviews & Misc

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