Avalanche stands out as a blockchain platform with tremendous scalability and minimal transaction fees, ensuring a seamless user experience.
The platform enables the creation of personalized blockchains known as subnets, leveraging the robust security infrastructure provided by Avalanche’s extensive network of validators.
In this article, we’ll be highlighting some of the best projects that are building on the Avalanche blockchain. We’ll be featuring projects across the DeFi, NFT and blockchain gaming sectors.
But before delving into the intriguing AVAX projects, let’s first familiarize ourselves with the fundamental aspects of the Avalanche blockchain platform.
What is Avalanche?
Avalanche (AVAX) is a scalable blockchain platform with smart contract support, launched in September 2020.
It features Subnets, customizable networks secured by Avalanche validators, with the Primary Network comprising three blockchains:
- Platform Chain (P-Chain) – for staking and validation
- Contract Chain (C-Chain) – for smart contracts and dApps
- Exchange Chain (X-Chain) – for fund transfers
The C-Chain is EVM-compatible, enabling easy migration of Ethereum apps.
Avalanche can handle 4,500+ transactions per second, with transactions finalizing in about 0.79 seconds on average.
The best Avalanche Crypto (AVAX) projects
Now that we’re a little more familiar with the Avalanche blockchain platform, let’s explore some of the best projects building on it.
- GMX – The leading decentralized crypto derivatives exchange
- Trader Joe – The top DEX on Avalanche
- Benqi – Lending and liquid staking DeFi protocol
- Joepegs – NFT marketplace launched by the Trader Joe team
- Kalao – NFT marketplace with metaverse integration
- The Legend of Aurum Draconis – Old-school RPG gameplay with items and characters on the blockchain
1. GMX – The leading decentralized crypto derivatives exchange
GMX is a decentralized crypto exchange specializing in perpetual futures contracts.
Its ecosystem features GMX and GLP tokens, with GMX as a utility and governance token earning 30% of exchange fees, and GLP as a liquidity provider token receiving 70% of fees.
GLP represents an index of crypto assets for swaps and leverage trading.
GMX allows up to 50x leverage and operates on Avalanche and Arbitrum blockchains for low trading fees.
2. Trader Joe – The top DEX on Avalanche
Trader Joe is the leading decentralized exchange on the Avalanche blockchain, featuring an AMM design for easy token swapping.
Beyond the DEX, it offers a liquidity farming platform, token launchpad, lending protocol, and staking service with JOE tokens for governance and fee rewards.
The project also introduced an NFT marketplace on the Avalanche blockchain.
3. Benqi – Lending and liquid staking DeFi protocol
Benqi, a key player in Avalanche’s DeFi ecosystem, offers lending and liquid staking on the blockchain.
Users can earn interest on various assets, including AVAX, BTC, ETH, LINK, and stablecoins.
The protocol allows staking AVAX while maintaining liquidity through sAVAX tokens. Currently, Benqi is the second-largest DeFi protocol by TVL, totaling around $209 million.
The native governance token, QI, enables users to direct AVAX delegations from the liquid staking protocol to specific validators.
4. Joepegs – NFT marketplace launched by the Trader Joe team
Joepegs, an Avalanche-based NFT marketplace by Trader Joe, is the primary native platform for Avalanche NFTs, featuring major projects.
Notably, it also supports NFTs from the BNB Chain. Collections like Ferdy Fish, Dragon Crypto Hero, Smol Joes, Rich Peoon, and Artayo Studios are available.
The marketplace’s design resembles OpenSea, providing familiarity for NFT enthusiasts.
Joepegs offers a “sweep the floor” function for users looking to invest in an entire collection at its floor price.
5. Kalao – NFT marketplace with metaverse integration
Kalao on Avalanche offers an NFT marketplace, a launchpad for new NFT projects, and the Kalao Citadel metaverse.
Users can explore NFT galleries or display their NFTs.
The marketplace allows easy filtering of collections, and users can create their collections on the Avalanche blockchain through Kalao.
The ecosystem uses the KLO token, allowing holders to stake and receive a share of fees from the NFT marketplace.
6. The Legend of Aurum Draconis – Old-school RPG gameplay with items and characters on the blockchain
The Legend of Aurum Draconis is an RPG on Avalanche’s blockchain.
It offers classic RPG gameplay with rewards earned in-game.
Players own their characters and gear as assets on the blockchain.
Users start with an NFT representing their hero, categorized into four classes and five tiers.
The game uses two tokens: DCAR for revenue sharing, staking, crafting, and land ownership, and DCAU for minting heroes, in-game actions, and governance, both distributed as rewards.
Read more: How to buy Amazon crypto?
The bottom line
Despite a setback in the 2022 bear market, Avalanche boasts a vibrant ecosystem and remains a top choice for emerging blockchain projects due to its impressive technology.
FAQs:
- Avalanche Crypto Platform:
- Usage: Wide adoption in various cryptocurrency and blockchain projects.
- Examples: Trader Joe (DeFi), Joepegs (NFT marketplace), The Legend of Aurum Draconis (blockchain gaming).
- Avalanche Blockchains:
- Primary Network: Three blockchains:
- P-Chain: Staking and validation.
- C-Chain: Smart contracts and decentralized applications.
- X-Chain: Sending and receiving funds.
- Primary Network: Three blockchains:
- Gaming on Avalanche:
- Projects: Blockchain games leveraging smart contracts and scalability.
- Examples: The Legend of Aurum Draconis, Monsterra, Cyberstella, Snail Trail, and more.