{"id":2535,"date":"2022-04-04T15:21:02","date_gmt":"2022-04-04T14:21:02","guid":{"rendered":"https:\/\/www.xdefi.io\/?p=2535"},"modified":"2023-02-08T09:28:38","modified_gmt":"2023-02-08T09:28:38","slug":"avax-avalanche-across-defi","status":"publish","type":"post","link":"https:\/\/www.xdefi.io\/de\/avax-avalanche-across-defi\/","title":{"rendered":"An Avalanche is Rolling Across DeFi &#8211; How Avalanche (AVAX) Has Become a Major DeFi Network"},"content":{"rendered":"<p><a href=\"https:\/\/chrome.google.com\/webstore\/detail\/xdefi-wallet\/hmeobnfnfcmdkdcmlblgagmfpfboieaf\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-2737\" src=\"https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/04\/image-320x320.png\" alt=\"Try XDEFI Wallet Now!\" width=\"320\" height=\"69\" srcset=\"https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/04\/image-768x166.png 768w, https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/04\/image-1024x222.png 1024w, https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/04\/image-50x11.png 50w, https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/04\/image.png 1515w\" sizes=\"auto, (max-width: 320px) 100vw, 320px\" \/><\/a><\/p>\n<p>XDEFI Wallet is now supporting the <a href=\"https:\/\/www.avax.network\/\">Avalanche<\/a> network, letting users manage and store <a href=\"https:\/\/coinmarketcap.com\/fr\/currencies\/avalanche\/\">AVAX<\/a> and all native Avalanche tokens and NFTs as well as connect to all Web 3 protocols available on the Avalanche.<\/p>\n<h2><span style=\"font-weight: 400;\">Introduction<\/span><\/h2>\n<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/twitter.com\/avalancheavax\">Avalanche<\/a> is a <a href=\"https:\/\/www.xdefi.io\/article\/blockchain-technology-intro\/\">blockchain<\/a> and <a href=\"https:\/\/www.xdefi.io\/article\/smart-contracts-intro\/\">smart contract<\/a> platform that focuses on high transaction speed, low fees and differentiates itself by allowing the creation of individual subnets. Avalanche is, therefore, a direct answer to several problems the current smart contract platform market-leader <a href=\"https:\/\/ethereum.org\/en\/\">Ethereum<\/a> is facing in terms of scalability.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Despite being a relatively new project &#8211; Avalanche was launched in\u00a0 2020 &#8211; it quickly became one of the essential platforms for <a href=\"https:\/\/www.xdefi.io\/article\/decentralized-finance-defi\/\">DeFi (Decentralised Finance)<\/a> applications and <a href=\"https:\/\/www.xdefi.io\/article\/nft-wallet-intro\/\">NFT (non-fungible tokens)<\/a> projects. The total value locked (TVL) across its DeFi protocols accounts for $11 billion at the time of writing.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">The History of the Avalanche Network<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Avalanche was founded in 2019 by <a href=\"https:\/\/www.linkedin.com\/in\/emin-gun-sirer-0a921a4\/\">Dr Emin Gun Sirer<\/a> &#8211; a former professor at Cornell University and now Founder and CEO at <a href=\"https:\/\/www.avalabs.org\/\">Avalanche Labs<\/a> &#8211; and his team to create a scalable blockchain with the fastest \u201ctime-to-finality\u201d. (<a href=\"https:\/\/twitter.com\/el33th4xor\">Emin Gun Sirer\u2019s Twitter profile<\/a>)<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-2542 size-full\" src=\"https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/sirer.png\" alt=\"\" width=\"355\" height=\"356\" srcset=\"https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/sirer.png 355w, https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/sirer-320x320.png 320w, https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/sirer-50x50.png 50w\" sizes=\"auto, (max-width: 355px) 100vw, 355px\" \/><\/p>\n<p style=\"text-align: center;\"><em><span style=\"font-weight: 400;\">Dr Emin Gun Sirer, Founder and CEO of Avalanche Labs<\/span><\/em><\/p>\n<p><span style=\"font-weight: 400;\">The team behind Avalanche Labs came up with its own consensus algorithm called \u201cSnowflake\u201d, which can achieve near-certain finality (time to finality is how long it takes for a crypto transaction to process and be considered permanent and irreversible) in less than a second. <\/span><span style=\"font-weight: 400;\">As you can see with the \u201cSnowflake\u201d algorithm and the name Avalanche itself, the project&#8217;s branding and naming for some aspects of the Avalanche network are all entered around snow.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Since its creation, Avalanche has shown exceptional growth, currently being the 10th biggest blockchain project based on the market capitalisation of its native token <a href=\"https:\/\/www.coingecko.com\/en\/coins\/avalanche\">$AVAX<\/a> and the fourth biggest blockchain when it comes to the total value locked in <a href=\"https:\/\/www.xdefi.io\/article\/dapps-intro\/\">DeFi protocols<\/a>.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-2555 size-full\" src=\"https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/avax_mc.png\" alt=\"\" width=\"754\" height=\"444\" srcset=\"https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/avax_mc.png 754w, https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/avax_mc-50x29.png 50w\" sizes=\"auto, (max-width: 754px) 100vw, 754px\" \/><\/p>\n<p style=\"text-align: center;\"><em><span style=\"font-weight: 400;\">AVAX performance measure in market capitalisation. Source: <a href=\"http:\/\/CoinMarketCap.com\">CoinMarketCap.com<\/a> 2022<\/span><\/em><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">A $230 million ecosystem fund announced in September 2021, involving capital from famous venture capital firms like <a href=\"https:\/\/polychain.capital\/\">Polychain<\/a> or <a href=\"https:\/\/www.threearrowscap.com\/\">Three Arrows<\/a> certainly helped to fuel this kind of growth.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-2562 size-full\" src=\"https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/avax_eco_fund.png\" alt=\"$230M Investment in Avalanche Ecosystem\" width=\"541\" height=\"318\" srcset=\"https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/avax_eco_fund.png 541w, https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/avax_eco_fund-50x29.png 50w\" sizes=\"auto, (max-width: 541px) 100vw, 541px\" \/><\/span><\/p>\n<h2><span style=\"font-weight: 400;\">How Avalanche (AVAX) Works<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Avalanche was created as an open-source platform for launching <a href=\"https:\/\/www.xdefi.io\/article\/dapps-intro\/\">decentralized applications<\/a> and enterprise blockchain deployments. It also tries to solve one of the toughest challenges in the blockchain space, achieving a high level of scalability without sacrificing security and decentralization.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">One of the key differences compared to well-known competitors such as <a href=\"https:\/\/www.xdefi.io\/article\/ethereum-intro\/\">Ethereum<\/a> is Avalanche\u2019s unique consensus protocol, called \u201cSnowman\u201d. The <a href=\"https:\/\/support.avax.network\/en\/articles\/4058299-what-is-the-snowman-consensus-protocol\">Snowman consensus<\/a> protocol works based on sub-sampled voting, which means that not all network validators need to confirm every transaction, but only a randomized subset of validators does.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-2563 size-medium\" src=\"https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/avax_consensus-768x384.png\" alt=\"Avalanche Consensus Explained\" width=\"768\" height=\"384\" srcset=\"https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/avax_consensus-768x384.png 768w, https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/avax_consensus-1024x512.png 1024w, https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/avax_consensus-50x25.png 50w\" sizes=\"auto, (max-width: 768px) 100vw, 768px\" \/><\/p>\n<p style=\"text-align: center;\"><em><span style=\"font-weight: 400;\">Avalanche\u2019s consensus model explained. Source: <\/span><a href=\"https:\/\/docs.avax.network\/\"><span style=\"font-weight: 400;\">https:\/\/docs.avax.network\/<\/span><\/a><\/em><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Another unique selling point of Avalanche is that it consists of three different blockchains rather than only one. Each of the three chains specialises in specific tasks, allowing the overarching Avalanche platform to support fast, low-cost transactions while still offering reliable security and a\u00a0 high level of decentralisation.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-2564 size-medium\" src=\"https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/primary-network-b3e87276c00ce9c3f875cf17aaa29422-768x384.png\" alt=\"Avalanche's 3 Blockchains Explained\" width=\"768\" height=\"384\" srcset=\"https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/primary-network-b3e87276c00ce9c3f875cf17aaa29422-768x384.png 768w, https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/primary-network-b3e87276c00ce9c3f875cf17aaa29422-1024x512.png 1024w, https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/primary-network-b3e87276c00ce9c3f875cf17aaa29422-50x25.png 50w, https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/primary-network-b3e87276c00ce9c3f875cf17aaa29422.png 1600w\" sizes=\"auto, (max-width: 768px) 100vw, 768px\" \/><\/p>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\"><em>Avalanche\u2019s three different blockchains explained. Source: <\/em><a href=\"https:\/\/www.avax.network\/\"><em>https:\/\/www.avax.network\/<\/em><\/a><\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Let us break down the three different blockchains within the Avalanche network and their functions:<\/span><\/p>\n<p><span style=\"font-weight: 400;\">1)<\/span><b> Exchange Chain (X-Chain)<\/b><span style=\"font-weight: 400;\">: The X-Chain offers a decentralised platform to create and trade digital assets. These assets include Avalanche\u2019s native asset $AVAX and protocol tokens like <a href=\"https:\/\/coinmarketcap.com\/fr\/currencies\/joe\/\">$JOE<\/a> or <a href=\"https:\/\/coinmarketcap.com\/fr\/currencies\/platypus-finance\/\">$PTP<\/a>. All transaction fees are denominated in $AVAX.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">2) <\/span><b>Platform Chain (P-Chain)<\/b><span style=\"font-weight: 400;\">: The P-Chain is Avalanche\u2019s metadata blockchain and coordinates validators, tracks existing subnets, and allows the creation of new additional subnets (which will be explained below in more detail).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">3) <\/span><b>Contract Chain (C-Chain)<\/b><span style=\"font-weight: 400;\">: Avalanche\u2019s C-Chain hosts all smart contracts. The C-Chain is fully compatible with the Ethereum Virtual Machine (EVM) and supports easy migration from existing protocols from Ethereum to Avalanche.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Create Your Own Subnet on Avalanche<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">As mentioned above, Avalanche\u2019s P-Chain allows everyone to create their own \u201csubnet\u201d on the Avalanche network in a permissionless way. A subnet is a dynamic set of validators working together to achieve consensus on the state of one or multiple public or private blockchains.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Creating custom subnets is a powerful functionality of Avalanche, which sets it apart from many of its rivals. Subnets can be created on-demand and utilised to increase the overall scalability of the network (e.g. a volume-intensive blockchain game could run on its own subnet) or to realise specific use cases, like enterprise applications.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Avalanche\u2019s Impressive Performance Numbers<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Thanks to its unique consensus model and reliance on three different blockchains, Avalanche features some of the most impressive performance numbers in the blockchain space regarding throughput, speed and transaction fees.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With up to 4.500 transactions per second and time-to-finality of 3 seconds, Avalanche is much more scalable than existing blockchains, such as <a href=\"https:\/\/bitcoin.org\/en\/\">Bitcoin<\/a>, Ethereum or even <a href=\"https:\/\/polkadot.network\/\">Polkadot<\/a>. Avalanche\u2019s network efficiency also makes it much more economically friendly than many of its rivals, which became more and more critical in recent months.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-2565 size-medium\" src=\"https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/avax_comparison-768x564.png\" alt=\"Avalanche Performance Comparison\" width=\"768\" height=\"564\" srcset=\"https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/avax_comparison-768x564.png 768w, https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/avax_comparison-1024x752.png 1024w, https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/avax_comparison-50x37.png 50w, https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/avax_comparison.png 1203w\" sizes=\"auto, (max-width: 768px) 100vw, 768px\" \/><\/p>\n<p style=\"text-align: center;\"><em><span style=\"font-weight: 400;\">Avalanche&#8217;s performance in comparison. Source: <a href=\"https:\/\/techcrunch.com\/\">TechCrunch<\/a> 2020<\/span><\/em><\/p>\n<p>&nbsp;<\/p>\n<h2><span style=\"font-weight: 400;\">Becoming a Major Platform for DeFi Applications<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Since 2020, Decentralised Finance (DeFi) protocols have been the number one use case for smart contracts. The amount of money locked in DeFi-related on-chain contracts rose to more than $200 billion today.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As Avalanche&#8217;s primary use case &#8211; next to creating individual subnets &#8211; is to offer a decentralised platform to deploy fast and cheap smart contracts, DeFi also played a significant role in the network&#8217;s overall growth.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Thanks to the speed and efficiency of Avalanche and the above-mentioned aggressive ecosystem growth program &#8211; and only after less than two years of existence &#8211; Avalanche hosts now more than 180 different protocols with a combined value locked of $11 billion. This metric makes it one of the top five DeFi platforms.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-2567 size-medium\" src=\"https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/avalanche_Tvl-768x276.png\" alt=\"Total Value Locked (TVL) on Avalanche\" width=\"768\" height=\"276\" srcset=\"https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/avalanche_Tvl-768x276.png 768w, https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/avalanche_Tvl-50x18.png 50w, https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/avalanche_Tvl.png 997w\" sizes=\"auto, (max-width: 768px) 100vw, 768px\" \/><\/p>\n<p style=\"text-align: center;\"><em><span style=\"font-weight: 400;\">Total Value Locked (TVL) on Avalanche over time. Source: <a href=\"https:\/\/defillama.com\/\">defillama.com<\/a><\/span><\/em><\/p>\n<p>&nbsp;<\/p>\n<h2><span style=\"font-weight: 400;\">Major DeFi Protocols Available on Avalanche\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">In the following chapter, we will have a quick look at the biggest DeFi protocols available on Avalanche today.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3><a href=\"https:\/\/aave.com\/\"><strong>Aave<\/strong><\/a><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-2568\" src=\"https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/Aave-logo.png\" alt=\"Aave\" width=\"202\" height=\"72\" srcset=\"https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/Aave-logo.png 564w, https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/Aave-logo-50x18.png 50w\" sizes=\"auto, (max-width: 202px) 100vw, 202px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">URL: <\/span><a href=\"https:\/\/aave.com\/\"><span style=\"font-weight: 400;\">https:\/\/aave.com\/<\/span><\/a><\/p>\n<p><span style=\"font-weight: 400;\">Type: Lending Protocol<\/span><\/p>\n<p><span style=\"font-weight: 400;\">TVL: $3.2B<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Description:\u00a0 Aave is the world\u2019s biggest money market protocol allowing users to earn interest, borrow assets and build applications on top of it in a permissionless way.<\/span><\/p>\n<h3><a href=\"https:\/\/www.traderjoexyz.com\/\"><strong>Trader Joe<\/strong><\/a><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-2569\" src=\"https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/traderjoe.png\" alt=\"Trader Joe Logo\" width=\"200\" height=\"200\" srcset=\"https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/traderjoe.png 300w, https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/traderjoe-50x50.png 50w\" sizes=\"auto, (max-width: 200px) 100vw, 200px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">URL: <\/span><a href=\"https:\/\/www.traderjoexyz.com\/\"><span style=\"font-weight: 400;\">https:\/\/www.traderjoexyz.com\/<\/span><\/a><\/p>\n<p><span style=\"font-weight: 400;\">Type: Decentralised Exchange (DEX)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">TVL: $1.6B<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Description: Trader Joe is the number one <a href=\"https:\/\/www.xdefi.io\/article\/dex-decentralized-exchanges\/\">decentralized trading platform (DEX)<\/a> on the Avalanche network.<\/span><\/p>\n<h3><a href=\"https:\/\/benqi.fi\/\"><strong>Benqi<\/strong><\/a><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-2570\" src=\"https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/0_CVwcbeZ9XjyYQP0S.png\" alt=\"BENQI Logo\" width=\"202\" height=\"71\" srcset=\"https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/0_CVwcbeZ9XjyYQP0S.png 600w, https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/0_CVwcbeZ9XjyYQP0S-50x17.png 50w\" sizes=\"auto, (max-width: 202px) 100vw, 202px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">URL: <\/span><a href=\"https:\/\/benqi.fi\/\"><span style=\"font-weight: 400;\">https:\/\/benqi.fi\/<\/span><\/a><\/p>\n<p><span style=\"font-weight: 400;\">Type: Lending Protocol<\/span><\/p>\n<p><span style=\"font-weight: 400;\">TVL: $1.25B<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Description: BENQI is a non-custodial liquidity market protocol, built on Avalanche. The protocol enables users to <a href=\"https:\/\/www.xdefi.io\/article\/defi-lending-borrowing\/\">lend, borrow, and earn interest<\/a> with their digital assets.<\/span><\/p>\n<h3><a href=\"https:\/\/curve.fi\"><strong>Curve<\/strong><\/a><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-2571\" src=\"https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/curve-dao-token-crv-logo-768x768.png\" alt=\"Curve Logo\" width=\"201\" height=\"201\" srcset=\"https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/curve-dao-token-crv-logo-768x768.png 768w, https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/curve-dao-token-crv-logo-1024x1024.png 1024w, https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/curve-dao-token-crv-logo-320x320.png 320w, https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/curve-dao-token-crv-logo-50x50.png 50w, https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/curve-dao-token-crv-logo.png 2014w\" sizes=\"auto, (max-width: 201px) 100vw, 201px\" \/><\/p>\n<p>URL: <a href=\"https:\/\/curve.fi\/\"><span style=\"font-weight: 400;\">https:\/\/curve.fi\/<\/span><\/a><\/p>\n<p><span style=\"font-weight: 400;\">Type: Decentralised Exchange (DEX)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">TVL: $1.2B<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Description: Curve is the world\u2019s biggest decentralized exchange liquidity pool on Ethereum designed for extremely efficient <a href=\"https:\/\/www.xdefi.io\/article\/stablecoins-intro\/\">stablecoin<\/a> trading.<\/span><\/p>\n<h3><a href=\"https:\/\/platypus.finance\/\"><strong>Platypus<\/strong><\/a><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-2572\" src=\"https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/logo-platypus-v2.png\" alt=\"Platypus Logo\" width=\"201\" height=\"238\" srcset=\"https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/logo-platypus-v2.png 290w, https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/logo-platypus-v2-42x50.png 42w\" sizes=\"auto, (max-width: 201px) 100vw, 201px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">URL: <\/span><a href=\"https:\/\/platypus.finance\/\"><span style=\"font-weight: 400;\">https:\/\/platypus.finance\/<\/span><\/a><\/p>\n<p><span style=\"font-weight: 400;\">Type: Decentralised Exchange (DEX)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">TVL: $1.17B<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Description: Platypus Finance is a novel open-liquidity stableswap protocol that aims to remove blockchain divergence.<\/span><\/p>\n<h3><a href=\"https:\/\/yieldyak.com\"><strong>Yield Yak<\/strong><\/a><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-2573\" src=\"https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/logo-1.png\" alt=\"Yield Yak Logo\" width=\"201\" height=\"83\" srcset=\"https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/logo-1.png 400w, https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/logo-1-50x21.png 50w\" sizes=\"auto, (max-width: 201px) 100vw, 201px\" \/><br \/>\n<span style=\"font-weight: 400;\">URL: <\/span><a href=\"https:\/\/yieldyak.com\"><span style=\"font-weight: 400;\">https:\/\/yieldyak.com<\/span><\/a><\/p>\n<p><span style=\"font-weight: 400;\">Type: Yield Aggregator<\/span><\/p>\n<p><span style=\"font-weight: 400;\">TVL: $343M<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Description: Yield Yak is an easy-to-use tool to earn more <a href=\"https:\/\/www.xdefi.io\/article\/defi-yield-farming\/\">yield from DeFi farming<\/a> on the Avalanche network.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><span style=\"font-weight: 400;\">The AVAX Token &#8211; Avalanche\u2019s Native Asset<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">AVAX is Avalanche&#8217;s native network asset and acts as a utility token that serves as the ecosystem\u2019s common medium of exchange. The capped supply of <a href=\"https:\/\/www.coinbase.com\/fr\/price\/avalanche\">AVAX<\/a> is 720 million tokens, with half of these tokens created at the network launch event. As Avalanche uses a custom <a href=\"https:\/\/www.xdefi.io\/article\/intro-to-proof-of-stake-vs-proof-of-work\/\">Proof-of-Stake<\/a> mechanism to secure the network, the AVAX token can be <a href=\"https:\/\/www.xdefi.io\/article\/governance-tokens-intro\/\">staked for governance<\/a> purposes and to benefit from the system&#8217;s staking rewards. <\/span><span style=\"font-weight: 400;\">As the token supply is capped and all network fees are burned, AVAX will become a deflationary asset in the long term.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-2574 size-full\" src=\"https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/avax_price.png\" alt=\"AVAX Price Development\" width=\"755\" height=\"593\" srcset=\"https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/avax_price.png 755w, https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/avax_price-50x39.png 50w\" sizes=\"auto, (max-width: 755px) 100vw, 755px\" \/><\/p>\n<p style=\"text-align: center;\"><em><span style=\"font-weight: 400;\">AVAX price and supply numbers as of 28th March 2022. Source: <a href=\"http:\/\/Coingecko.com\">Coingecko.com<\/a><\/span><\/em><\/p>\n<p>&nbsp;<\/p>\n<h2><span style=\"font-weight: 400;\">XDEFI Wallet Supports the Avalanche Network and the AVAX Token<\/span><\/h2>\n<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/www.xdefi.io\/\">XDEFI Wallet<\/a>\u2019s goal is to become the number #1 <a href=\"https:\/\/www.xdefi.io\/article\/multichain-technology\/\">multi-chain wallet<\/a> for all DeFi users and NFT collectors. Therefore we need to <a href=\"https:\/\/www.xdefi.io\/article\/multichain-wallet-xdefi-support\/\">support all major blockchain networks<\/a> and their native Web 3 projects. The addition of Avalanche as one of the multiple supported blockchains on <a href=\"https:\/\/chrome.google.com\/webstore\/detail\/xdefi-wallet\/hmeobnfnfcmdkdcmlblgagmfpfboieaf\">XDEFI Wallet<\/a> was a logical consequence of its success and the consequent high user demand.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/twitter.com\/xdefi_wallet\">XDEFI Wallet users<\/a> can now interact with all Avalanche protocols and store, send, manage, and receive AVAX and all native Avalanche <a href=\"https:\/\/www.youtube.com\/watch?v=8t1ov-RyiPY&amp;ab_channel=XDEFIWallet\">tokens<\/a> and <a href=\"https:\/\/www.youtube.com\/watch?v=L7g33NkmRpY&amp;ab_channel=XDEFIWallet\">NFTs<\/a>.\u00a0<\/span><\/p>\n<p><a href=\"https:\/\/chrome.google.com\/webstore\/detail\/xdefi-wallet\/hmeobnfnfcmdkdcmlblgagmfpfboieaf\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-2737\" src=\"https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/04\/image-320x320.png\" alt=\"Try XDEFI Wallet Now!\" width=\"320\" height=\"69\" srcset=\"https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/04\/image-768x166.png 768w, https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/04\/image-1024x222.png 1024w, https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/04\/image-50x11.png 50w, https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/04\/image.png 1515w\" sizes=\"auto, (max-width: 320px) 100vw, 320px\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>XDEFI Wallet is now supporting the Avalanche network, letting users manage and store AVAX and all native Avalanche tokens and [&hellip;]<\/p>\n","protected":false},"author":10,"featured_media":2595,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2535","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>How Avalanche (AVAX) has become a major DeFi network<\/title>\n<meta name=\"description\" content=\"XDEFI Wallet is now supporting the Avalanche network : manage and store AVAX and all native Avalanche tokens and NFTs..\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.xdefi.io\/avax-avalanche-across-defi\/\" \/>\n<meta property=\"og:locale\" content=\"de_DE\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How Avalanche (AVAX) has become a major DeFi network\" \/>\n<meta property=\"og:description\" content=\"XDEFI Wallet is now supporting the Avalanche network : manage and store AVAX and all native Avalanche tokens and NFTs..\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.xdefi.io\/avax-avalanche-across-defi\/\" \/>\n<meta property=\"og:site_name\" content=\"XDEFI Technologies\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-04T14:21:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-08T09:28:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.xdefi.io\/wp-content\/uploads\/2022\/03\/all_you_need_to_know_about_avax-1024x576.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"576\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Kevin Beardsley\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Verfasst von\" \/>\n\t<meta name=\"twitter:data1\" content=\"Kevin Beardsley\" \/>\n\t<meta name=\"twitter:label2\" content=\"Gesch\u00e4tzte Lesezeit\" \/>\n\t<meta name=\"twitter:data2\" content=\"9\u00a0Minuten\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.xdefi.io\/avax-avalanche-across-defi\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.xdefi.io\/avax-avalanche-across-defi\/\"},\"author\":{\"name\":\"Kevin Beardsley\",\"@id\":\"https:\/\/www.xdefi.io\/#\/schema\/person\/d2ccdb5b62cdc2127e6a1a948ea76a0e\"},\"headline\":\"An Avalanche is Rolling Across DeFi &#8211; 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