Thread by @Joncole23

$AVAX is one of my favorite coins and I think it will hit 3 digits again one day. This weekend I had the pleasure of attending the House of Avalanche where I was able to fully immerse myself in the $Avax ecosystem and learn a lot. (1/25)

This is a thread on $Avax and my key takeaways from this weekend!

Starting with what is Avalanche?

- Avalanche is the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality, (2/25)

and has the most validators securing its activity of any proof-of-stake protocol. Avalanche is blazingly fast, low cost, and green. So what is $Avax? (3/25)

$AVAX is the native token of Avalanche. It’s a hard-capped, scarce asset that is used to pay for fees, secure the platform through staking, and provide a basic unit of account between the multiple Subnets created on Avalanche. (4/25)

Avalanche also features 3 built-in blockchains: Exchange Chain (X-Chain), Platform Chain (P-Chain), and Contract Chain (C-Chain). All 3 blockchains are validated and secured by all Avalanche validators which is also referred to as the Primary Network. (5/25)

he Primary Network is a special Subnet, and all members of all custom Subnets must also be a member of the Primary Network by staking at least 2,000 AVAX. I personally use C Chain the most to utilize Avax defi.

What is the goal of Avalanche? (6/25)

The Avalanche Foundation is focused on accelerating the adoption and growth of its novel “subnet” functionality, which enables a rich ecosystem of scalable app-specific blockchains. Initially, the program is focused on supporting new ecosystems including, (7/25)

but not limited to, blockchain-enabled gaming, DeFi, NFTs and institutional use cases.

What can you actually do in Avalanche?

One can utilize dapps built on avalanche to do a variety of actions such as trade on a dex, use a yield optimizer, manage your defi portfolio, (8/25)

Borrow or lend, & trade a wide variety of NFTs!

What is a subnet?

Subnets enable anyone to easily create powerful, reliable, and secure permissioned or permissionless networks with custom implementations. This includes features not available on other chains, (9/25)

like selecting which validators secure their Subnet activity, which token is used for gas fees, custom economic models, and more. This also gives tokens in the ecosystem unique use cases. Crucially, Subnets remain natively integrated with the broader Avalanche ecosystem, (10/25)

don’t compete with other projects for network resources, and are available in an unlimited supply. This empowers Web3 applications to differentiate on user experience as they never have before with uniform rules underpinning all applications on a smart contract network. (11/25)

IMO subnets allow for massive scaling, attract institutional investors, and support the avalanche ecosystem projects by providing them with real utility.

So now that you have a basic understanding of avalanche, lets go over why I am very bullish long term. (12/25)

So I attended this event for a total of two days and got to talk to tens of people in the ecosystem, institutions, devs, projects, enthusiasts, and degens who were all very passionate about the ecosystem. (13/28)

The main goal for avalanche I came to realize was to onboard institutions and real businesses to create subnets on the avalanche ecosystem. IMO this is what is going to carry the ecosystem and bring billions of dollars into the ecosystem. (14/25)

I first hand got to see real world companies, hedge funds, VCs, and institutions take lots of interest in avalanche and discuss topics for hours. Getting a tradfi view of avalanche was important to me as I wanted to know why these companies wanted to build on avalanche. (15/25)

My answer is they are all interested in creating their own projects/entering the web 3 space and avalanche subnets makes it easy to do so. (16/25)

After studying the event one thing is very clear to me: Institutions are buying avalanche and this is how they will scale and enter into the web 3 space.

As some of you may already know, I was and am knees deep in the Avalanche Defi space the last few months. (17/25)

I wanted to find out what is changing in the space and what will make me bullish. So a couple of takeaways from what I saw around $avax defi is this:

-A lot of bad actors in projects have left and new devs have come into the space and are building. (18/25)

- New innovations and ideas are taking place… the biggest is going to be decentralized perp exchanges IMO
-Only a few projects are actually serious in avax defi. (19/25)

-Blue chips avax defi protocols still work and survived the roughest patch of the bear market
-There is still money to be made in the ecosystem even in a bear market
-New innovations are happening every week
-Avax node projects are dead and unknown to AVA labs (20/25)

-My favorite current defi projects are currently on Avax are:
@grape_finance
@100DaysVentures
@XETACapital
@VaporNodes
@traderjoe_xyz
@GMX_IO
@joepegsnft
@0xCampfire
@BenqiFinance
@pangolindex
Next we will go over My NFT space takeways. (21/25)

-Solid marketplaces are out but it is early
-Lack of blue chip projects
-Cheap and more fun than other networks
-Artists are building on avax from all over the world
-Some projects are a lot better than others, it's noticeable
- Learned about AI and NFTs (22/25)

End Takeaways:

Overall this event was my favorite crypto event I have been to and I learned a lot. Food was amazing, everyone was very friendly and open to talking, learned alot, made new friends, & it was clear web 3 & $AVAX is the place to be now. (23/25)

I personally think the biggest reasons $avax will go back to 3 digits are institutions being onboarded and adding value to the ecosystem in all aspects. Subnets, defi expanding, (24/25)

and one of the most fun NFT communities are going to be a driving force behind avalanches mainstream adoption and rise to three digits again. Also shoutout to the community members, founders, and ava labs teams for being so awesome! #BULLISH #AVAX #Avalanche (25/25)

@John1wu @AVAX_Insider @avalancheavax @avalabsofficial @AvalancheIntern @AVAXAndrettiFE @luigidemeo