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Layer by Layer Issue 34: Optimism, Avalanche, and Solana

June 9, 2022, 12:50PM EDT • 23 min read Quick Take In this weekly series, we dive into some of the most interesting data and developments across the Layer 1 blockchain landscape, from DeFi and bridges to network activity and funding The L2 scaling protocol Optimism has launched its native governance token as the team looks to attract further adoption of its network, but challenges with supporting infrastructure remain Avalanche and Solana have made progress on their own approaches to …

Avalanche proposes the Otherside metaverse should build its own subnet

The Avalanche core team has submitted a proposal idea to the ApeCoin DAO, suggesting that the Otherside metaverse should migrate to the Avalanche blockchain. The proposal is still in an early discussion phase and is not clear if it will go through a formal governance vote — let alone whether the DAO has control over the metaverse. The ApeCoin DAO is the governance body of ApeCoin, an Ethereum token used within Yuga Labs’ forthcoming Otherside metaverse and the Bored Ape …

Layer by Layer Issue 31: Cosmos, Avalanche, and Solana

May 19, 2022, 3:37PM EDT • 20 min read Quick Take In this weekly series, we dive into some of the most interesting data and developments across the Layer 1 blockchain landscape, from DeFi and bridges to network activity and funding L1 ecosystems that have built connections with Terra and its native assets are adjusting to a new reality as they contend with the fallout of UST’s collapse This week, we take a look at Cosmos, Avalanche, and Solana Join …

Valkyrie launches new trust holding AVAX

Issuer Valkyrie Investments has launched an Avalanche-focused trust to join its family of crypto funds. The Valkyrie Avalanche Trust (VAVAX) launches today. The trust invests solely in AVAX, the native token of the Avalanche network. “The primary investment objective of the Trust is to reflect the value of Avalanche held within and to offer investors access and exposure to the digital asset in an insurable, cost-effective manner,” the firm said in its announcement. It is the sixth single-asset trust, which …

Avalanche developer raising $350 million at $5.25 billion valuation: Report

Ava Labs, the main developer of the Avalanche blockchain, is reportedly raising $350 million in new funding at a $5.25 billion valuation. Bloomberg reported the new fundraising on Thursday, citing people familiar with the discussions — although only one source gave the valuation. The Block has reached out to Ava Labs for comments and will update this story should we hear back. The Avalanche blockchain was launched in September 2020 by Ava Labs as an “Ethereum killer.” It has garnered …

Luna Foundation Guard buys $100 million in AVAX for UST’s reserve

The Luna Foundation Guard (LFG), a Singapore-based nonprofit building reserves for the stablecoin Terra (UST), announced Thursday that it will buy $100 million worth of AVAX tokens from the Avalanche foundation to augment its reserves. LFG had bought $231 million in bitcoin the day prior to also boost its UST reserves, but this appears to be the first time LFG is buying into another cryptocurrency. With the AVAX market share significantly smaller than bitcoin’s, LFG is now a significant market …

Crabada: One of the first Avalanche’s subnet games

April 7, 2022, 1:51PM EDT • 11 min read Quick Take Crabada is a play-and-earn idle game that is currently running on the Avalanche C-chain and is in the process of migrating to its own subnet, Swimmer Network. Crabada uses a three-token model to shape its game ecosystem, leveraging tokenized loyalty point system to attract and retain its base players. With the introduction of the Swimmer Network, the Crabada community can gain greater control over the game economy and help …

Layer by Layer Issue 27: Ethereum, Terra, Avalanche, and Fantom

April 7, 2022, 10:06AM EDT • 26 min read Quick Take In this weekly series, we dive into some of the most interesting data and developments across the Layer 1 blockchain landscape, from DeFi and bridges to network activity and funding Ethereum and Avalanche are nearing critical stages of development in their scaling roadmaps Terra’s UST continues its spread across multiple chains while incentives on Fantom are beginning to fuel a new chapter for the ecosystem Join The Block Research …

A look at Avalanche subnets

April 5, 2022, 1:28PM EDT • 9 min read Quick Take Avalanche is one the fastest growing L1 in the crypto space due to its EVM compatibility, low fees and latency, as well as its fast transaction finality  To further bolster the scalability of the Avalanche blockchain, Ava Labs introduced the concept of subnets, where unique ecosystems in the Avalanche network can be operated by different sets of validators Crabada, a popular game on Avalanche, recently launched its own native …

Layer by Layer Issue 25: Avalanche, Terra, BNB Chain, and Cosmos

March 24, 2022, 3:47PM EDT • 17 min read Quick Take In this weekly series, we dive into some of the most interesting data and developments across the Layer 1 blockchain landscape, from DeFi and bridges to network activity and funding L1 teams are starting to develop closer partnerships with other teams, leveraging the technical strengths and communities of their respective networks to forge new synergistic strategies for growth This week, we take a look at Avalanche, Terra, BNB Chain, …