CoinEx Institution | A Brief Analysis of the Avalanche Ecosystem

  1. Assets: The partnership between Avalanche and the US payment service provider Wyre allows users in over 50 countries/regions (including the US) to convert fiat currencies into DeFi assets in the Avalanche ecosystem;
  2. Avalanche has reached cooperation with the crypto e-commerce platform to enable users to shop on Amazon, Walmart, and eBay through AVAX;
  3. Working with Tether, the network launched Avalanche-native USDT, which was soon recognized by mainstream centralized exchanges. Today, most CEX users can quickly deposit and withdraw the token;
  4. Institutional investors that include Polychain and Three Arrows Capital joined a $230 million investment fund for Avalanche-based projects;
  5. In addition, AVAX will also be listed on Coinbase in September 2021, which is another endorsement for investors.
AVAX Price Trend (green: market cap; red: TVL)

1) Team

  1. Emin Gun Sirer: As Professor of Information Engineering at Cornell University, and co-founder of IC3, Emin Gun Sirer focuses on cryptography research and published the Karma System in 2003, which is the world’s first distributed crypto system that mints coins through PoW (Proof of Work). This 2003 paper remains the most cited paper in this field;
  2. Kevin Sekniqi: An Information Engineering researcher;
  3. Ted Yin: First author of the HotStuff Protocol used in Facebook’s Libra;
  4. BD VP Lydia C and some employees previously worked at Sureview Capital/Sego (family investment office that once received strategic investment from Blackstone Group);
  5. Ava Lab’s consultants include Maureen O’Hara, a Cornell professor, and Adam Kravetz, an executive at Merrill Lynch.

2) Technology

  1. P Chain (Platform): The Platform Chain (metadata chain on Avalanche) works to coordinate network validators and facilitate the creation of new subnets.
  2. X Chain (Exchange): The Exchange Chain is mainly related to asset swapping. It creates assets and allows them to be transferred across subnets. The chain can be regarded as the main chain of Avalanche. Users may directly deposit assets into X Chain through exchanges that support Avalanche, and the X Chain address uses the format of “X-avax”;
  3. C Chain (Contract): The Contract Chain, the smart contract chain on Avalanche, is EVM compatible, and developers can create all sorts of smart contract applications on the chain. By adding the Avalanche C-Chain to Metamask, users can transfer assets through the cross-chain bridge between X-Chain and C-Chain and perform DeFi operations. Since the chain is compatible with EVM, its address starts with “0 x”.

3) Resources

  1. Technical consultants: Avalanche is powered by many well-known cryptography professors and scholars.
  2. Big-name institutional investors: Back in 2019, Avalanche received a $6 million investment from institutional/individual investors that include Andreessen Horowitz (a16z), Polychain, Balaji Srinivasan (former CTO of Coinbase), Metastable, Initialized, and Ramtin Naimi (founder of Abstract Ventures). In May 2020, the project completed a $12 million private-round fundraising, led by five institutional investors that include the US digital investment bank giant Galaxy Digital, Bitmain, Initialized Capital, NGC Ventures, and Dragonfly Capital;
  3. Incredible subsidies: In the first half of 2022, Avalanche has hosted the Avalanche Hackathon (Asia), which offers Avalanche funding & support to the top 10 projects. ViaBTC Capital has also sponsored the hackathon.





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