Avalanche (AVAX) has partnered with True USD to make TUSD a native stablecoin asset on its DeFi-centric Layer 1 blockchain. In addition, Avalanche has been listed on OIN Finance. In this way, AVAX tokens can be used as security for stable coins that are as good as new.
This week’s avalanche highlights:
💵 @tusd_official Stablecoin is launched natively on Avalanche
💻 @SimbaChain offers intelligent, low-code contract deployments
✨ @mycointainercom offers simple stakeout services for $ AVAX
💸 @FinanceOin brings $ AVAX-backed stablecoins with https://t.co/83hdVdygty
– Avalanche (@avalancheavax) March 5, 2021
One of the fastest blockchains out there
Avalanche was founded in 2018 by Emin Gün Sirer, Professor of Computer Science at Cornell University, with the vision of combining the advantages of classic consensus models such as Byzantine fault tolerance with the Nakamoto consensus, which was first introduced by the Bitcoin blockchain.
In your multichain network, each chain runs a separate instance of a virtual machine, e.g. B. EVM or WASM. This enables 4500 transactions per second to be achieved with transaction times of less than a second and instant finality.
After raising $ 18 million in VC funds from prominent investors, Avalanche launched the AVAX token and raised another 42 million in less than 4.5 hours on its token sale in July 2020. The Avalanche mainnet went into operation shortly afterwards in September 2020.
The Avalanche / Ethereum bridge went into operation in February 2021. This allows Ethereum users to migrate their assets such as ERC-20 and ERC-721 tokens to Avalanche.
Academic partnerships span Latin America
With Prof. Sirer as a strong academic figurehead, Avalanche has worked with the Blockchain Academy Chile and the South America-based LACChain Alliance. They are also a partner of the Blockchain Research Institute and the Blockchain Game Alliance.
In the DeFi sector, Avalanche has several ecosystem members with Union (insurance), Torque (lending), Prosper (forecasting markets), Securitize (asset tokenization) and Frontier and Yield (DeFi aggregators). They are also venturing into the NFT sector with Polyent Games, an investment company focused on blockchain games.
In addition to True USD and OIN Finance, Avalanche also hosts the BiLira Stablecoin, which is supported by the Turkish Lira. Another partner is E-Money, an issuer of interest-bearing stable coins.
Building an accelerator with Encode Club
After Avalanche became one of the main sponsors of the Encode Hack Club hackathon under Polkadot and Binance, Avalanche is again working with Encode to run a ten-week accelerator program.
Since Encode works with over 75 universities worldwide, the accelerator is primarily aimed at students and alumni, but is basically open to any blockchain startup that has not yet collected any donations. Participants will receive a grant of £ 4000 and will have the option to apply for an Avalanche grant or raise funds from Encode Invest after their last pitch.
The Encode Avalanche Club Accelerator will be held online and will run from April to June 2021. Applications are currently open until March 28th.