Avalanche's Halloween Treats
Avalanche projects gave a lot of treats yesterday. Two of it were airdrops. Everyone loves airdrops!
The first one was from Trader Joe, which launched the TRACTOR token. It's a reflect token suggested and owned by the community. The community suggested for Trader Joe to have its meme token which has multiple use cases such as using profits from it to buy back and burn JOE and getting access to high quality NFTs.
The second was another airdrop for Avaxstars holders. The Team behind the metaverse game Avaxstars which is already sold out launch a new NFT collection called Mandala. However, they plan to evolve it into an exciting game. The airdrop of MNDL tokens is the start of it.
There were also a lot of NFT collections which launch yesterday. Of course, most of it corresponds to the Halloween team. But the biggest treat is from Avalanche itself. Called “Blizzard”, the fund is composed of contributions from Ava Labs, the Avalanche Foundation and investors in Avalanche’s latest $230 million capital raise.
The new fund builds on top of Avalanche’s $180 million DeFi incentive program, “Avalanche Rush”, announced on August 18. Since then, the total number of transactions on the network has gone up from a little over 4 million to 18.5 million, according to analytics tool Avalanche Explorer, and Avalanche’s AVAX token has tripled in price—from $21 to $63.
While the purpose of Avalanche Rush is to support DeFi apps which will build on Avalanche, the Blizzard Fund has much bigger scope as it is not only confined to DeFi apps. One fun fact, Avalanche C-Chain which is EVM compatible is just a subnet (subchain) under Avalanche. It is not the totality of Avalanche as anyone would think. Anyone can build any chain on top of Avalanche, each is interoperable and has shared security. I believe this is one of the goals of the Blizzard Fund, build more chains on top of Avalanche.
Source:
Posted Using LeoFinance Beta
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