Avalanche is a layer-1 blockchain undertaking a major technology overhaul called Avalanche9000. The upgrade recently went live in a testnet environment and is designed to make transactions and running validators significantly cheaper. According to the announcement, Avalanche9000 cuts deployment costs by 99%, with the goal of making it easier to build apps on the network. Avalanche has an active native token, AVAX, which rose following the token sale announcement. The network is the 10th-largest blockchain by total value locked (TVL) at $1.6 billion, per DefiLlama. The project has attracted substantial institutional interest amid its upgrade and fundraising activity. Avalanche is a public smart-contract platform that claims to be the fastest in the space by time-to-finality, offering low-cost and eco-friendly transactions. Its core product includes support for DeFi, enterprise applications, and customizable Subnets that enable private or public networks with control over implementation. The Avalanche Foundation says it will deploy support through grants, token purchases, investments, and technical assistance. Since introducing its platform in September of last year, Avalanche reports rapid ecosystem growth with more than 270 initiatives being developed on the platform, including integrations with major DeFi projects such as Tether, SushiSwap, Chainlink, Circle, and The Graph. The network also reports more than a thousand validator nodes staking tokens. The Foundation and community emphasize use cases in asset tokenization and regulated institutional deployments built on Subnets.

Total raised

$480M

Funding rounds

2

Latest round

Initial Coin Offering

Latest activity

Dec 2024