In the #Avalanche whitepaper it is described as a high-performance, scalable, customizable, and secure blockchain platform.
Compared to many other protocols, it's not a single blockchain or a single network but rather a collection of different chains united under one technology.
The most well-known Avalanche chain is the Contract Chain (C-Chain). It runs the Ethereum Virtual Machine (EVM), making it compatible with smart contracts written for Ethereum.
C-Chain is a home for most of the #NFT and #DeFi innovation happening on Avalanche.
Exchange Chain (X-Chain) exists for easy issuance and treading of digital assets with programmable behaviours.
One such asset is $AVAX - the native token of the whole platform that can be used to, for example, pay fees on C-Chain.
Finally, the Platform Chain (P-Chain) coordinates the behaviour of validators and manages new and existing subnets.
While the primary network exists to validate C, X and P-Chains, everyone can create their sub-network with its own set of rules and features.
Besides subnets that enable practically infinite scaling, another important piece of the Avalanche platform is the Avalanche consensus.
Consensus protocols are required for the nodes to be able to agree on the state of the blockchain.
Avalanche consensus has some big advantages over competitors. The most important one is that it doesn't require all nodes to communicate with all nodes.
This allows it to onboard thousands of validators without sacrificing performance.
Thanks to the Avalanche consensus mechanism, the network is able to reach 4500+ TPS, with transactions reaching finality in seconds.
All of this is possible while being able to maintain low requirements for the validator's hardware, further helping decentralisation.
Avalanche consensus was originally designed for DAGs (Directed Acyclic Graphs). Its chain-optimised version is called Snowman++ and is used for both P-Chain and C-Chain.
That's a wrap.
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It's impossible to fit everything about Avalanche in one thread, so tune in next week to learn more about #Subnets and the possibilities they unlock.
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Start earning $AVAX incentives across a large number of participating Liquidity Book Pools.
โก Boost rewards across 13 Pools
๐บ All rewards in $AVAX tokens
๐งช Earn rewards in real time
๐๏ธ Visit: Basecamp Boost
Dive down for more details ๐
โก GRAB A CAN OF BOOST
Boost aims to set a stronger foundation for DeFi on Avalanche. The program has been built to target and level up the entire ecosystem, by growing liquidity across multiple DeFi venues.
๐บ What Pools Are Receiving $AVAX rewards?
Trader Joe will focus on growing liquidity for Avalanche builders, with a large number of pools receiving $AVAX incentives.
Phase 1 of Boost will last for 4 weeks. Changes to incentives and markets may occur within each phase.
V2.2 introduces a hook capability for Liquidity Book. The first implementation, Concentrated Incentives, is also live today with $ARB rewards activating ~tomorrow.
More details below (no links in post)
๐ Firstly
As part of the V2.2 Launch there is a new router on Arbitrum and Avalanche that will need to be approved for the first time.
By utilizing a discretized architecture, Liquidity Providers gain full autonomy and flexibility over the liquidity range they deploy, how that liquidity is shaped, and how they manage it moving forward.
โข 9.8k ($350k) $AVAX will be distributed
โข Total TVL ($) Staked accounts for 95%
โข % of Staked Supply accounts for 5%
When will rewards be distributed?
Rewards have been received for this current week, following a brief off-chain calculation process they will be distributed. A further announcement will be made when this happens. Rewards can be claimed directly from staking pool(s).
Over 20 new pairs for onchain limit orders have been added, including many popular #DeFi tokens and community coins on #Avalanche.
Place your orders and trade with automated ease, on your terms and at no cost.
What are onchain limit orders?
By leveraging the discretized architecture of Liquidity Book, swap are executed onchain using Liquidity Pools.
This approach ensures decentralization, no reliance on external oracles and no fees to pay when trading.
There are two types of limit orders ๐
๐ช Place Orders
Accessible from the Trade page by selecting 'Place Order', this limit order feature allows you to execute swaps at your chosen price point.
When you set up an order, your tokens are deposited into a liquidity pool. If the market reaches your specified price, your position automatically converts into the desired tokens, which are then held for you to claim at your convenience.
The Avalanche Foundation have announced a $1m memecoin rush program. Trader Joe will play an integral role, offering users the ability to stake memecoins and earn $AVAX.
Get ready to prove your diamond hands ๐๐
The rush is about to start ...
Memecoins on #Avalanche ๐บ
@AvalancheFDN are committed to nurturing culture and creativity. 'Memecoins' are embraced for their strong brand proposition & loyal community following. They can add depth and diversity to any ecosystem. Trader Joe is aligned in support.
...Soon โข
The TLDR ๐
Expected to launch next week:
โข Single-sided meme coin staking program
โข Points system based on staking activity
โข Multipliers to increase points accrual
โข Weekly epochs with $AVAX airdrops
โข Diamond Hands: Collaborative Goal