Congratulations to the Avalanche Tech Prize winners at @CalHacks, the world's largest collegiate hackathon, hosted at @UCBerkeley during #AvalancheCreates!
The Avalanche Foundation remains financially strong during this difficult time.
A quick thread with more details 👇
2/ Our hearts go out to everyone adversely impacted by the current situation. We hope everyone is able to recover their assets.
3/ The Avalanche Foundation works with many counterparties for financial activities, including TradFi firms, CeFi players, and DeFi protocols. We strongly believe in risk management, due diligence & “not your keys, not your crypto”, and act in accordance with these principles.
Imagine a future where, say, @Nike, running their own loyalty chain on a Subnet, decide they want to automatically reward members who recently purchased an @FCBarcelona NFT on @opensea.
Banff 1 is the upgrade that makes this potential use case possible /🧵
Banff 1 (AvalancheGo v1.9.1) brings us one step closer to seamless Subnet interoperability with the introduction of VM2, a communication channel for VMs to message each other.
VM2 is a building block for Subnet interoperability, and makes it easy for a virtual machine to interact with any other virtual machine running on the same node, like the C, X, or P-Chain.
Introducing Banff, the AvalancheGo upgrade that gives builders even more options 🏔🔺
With Elastic Validation, Banff unlocks the ability for Subnet creators to activate PoS validation and uptime-based rewards using their own token on their Subnet 🙌 medium.com/avalancheavax/…
For the first time, anyone can become a validator of a Subnet by simply staking its token on the P-Chain based on the requirements set by the Subnet.
Choosing to enable these new features requires a one-time transformation into a new type of Subnet, called an Elastic Subnet.
The pre-release code for the Banff upgrade is now available. The upgrade will activate at 10am EST (2pm UTC) on Monday, October 3rd on the Fuji Testnet.
The Avalanche Mainnet activation time will be announced in the coming days.
Avalanche Creates will focus on fostering meaningful connections and networking opportunities for developers, researchers, and creators around the globe.
Get inspired by fellow builders in the #Avalanche ecosystem, and launch the next big project in Web3! avalanchecreates.com
Avalanche Creates offers the perfect space to build together for a week, with 1:1 mentorship opportunities, networking events, lightning fast WiFi, workstations, food, drinks and more!
#Avalanche has seen tremendous momentum since @chainlink Price Feeds, Keepers and VRF launched on mainnet.
Explore how 10M+ data points, smart contract automation, and verifiable randomness have helped secure $550M+ in value 🧵⬇️
2/ Best-in-class #DeFi projects like @AaveAave, @BenqiFinance and @traderjoe_xyz are using #Chainlink Price Feeds’ high-quality, hyper-reliable and decentralized market data to support the Avalanche ecosystem with DEXs, liquid staking and other key financial primitives.
3/ Leading #GameFi and DeFi projects are leveraging Chainlink Keepers’ decentralized smart contract automation service to save time and bolster security.
Keepers help @PlayCrabada power its Lucky Draws, @robo_vault adjust its debt ratio, and @WyndBlast distribute winnings.
1/ Some members of the Avalanche Community have inquired about details around the $AVAX reserves that the Luna Foundation Guard and Terraform Labs hold.
Tl;dr: the AVAX is currently immobilized. Below is a transparency report 👇
2/ Terraform Labs (TFL) purchased 1.09M AVAX, with a one year lockup. This amount represents around 0.5% of the past week’s AVAX volume.
3/ Luna Foundation Guard (LFG) purchased 1.97M AVAX, to be used for the Terra reserve pool. This allocation represents around 0.9% of the past week’s AVAX volume. Given the proposed Terra chain fork, LFG has disclosed no plans to use the AVAX.