Welcome to the Avalanche Weekly Overview. A one-stop-shop for the AVAX community to get up to speed on the Avalanche blockchain network’s latest updates, metrics, releases, insights, ecosystem developments and more. All in one place.
New here? Subscribe here to get updates to your inbox. Every Wednesday.
Avalanche TVL: $1.89B (-6.07%)
Avalanche C-Chain daily txns: 1.3M (+80.58%)
Max transactions per second: 113 (+36.14%)
Total Avalanche validators: 951 (-10.87%)
Total Avalanche L1s: 326 (+1.24%)
The percentages and metrics are based on a 7-day timeframe from Token Relations data, unless noted otherwise.
🔺What we’re watching: SkyBridge Capital announced at the Wyoming Blockchain Symposium its tokenizing $300 million from two of its hedge funds on Avalanche.
🔺Why it matters: SkyBridge Capital is an investment firm founded by Anthony Scaramucci focused on bridging traditional finance and digital assets.
This initiative will bring capital from its flagship hedge funds, Digital Macro Master Fund Ltd. and Legion Strategies Ltd. through a strategic collaboration with enterprise-grade tokenization infrastructure Tokeny and its parent company Apex Group Ltd. As a global financial services provider that manages over $3.5 trillion in assets onchain, SkyBridge plans to leverage the ERC-3643 standard to enable the issuance and management of these funds.
In addition, the tokenized funds plan to integrate directly with DeFi protocols to allow shares to be used as collateral or in yield-generating strategies. This creates a low-friction entry point for TradFi players wary of crypto’s volatility, offering a familiar yet innovative investment vehicle.
“This milestone shows how Apex Group and Tokeny are breaking down the operational and technology barriers that have historically slowed institutional tokenization,” Global Head of Digital Assets at Apex Group and Co-Founder of Tokeny Daniel Coheur said. “SkyBridge’s tokenization on Avalanche proves that with the right technology, trusted operators, and regulatory clarity, tokenization at scale is not just possible, it’s happening.”
Since the funds will be tokenized and operated on Apex Group’s platform, it can streamline creation, issuance, administration and distribution of an investment. In turn, it acts as a solution for traditional hedge fund pain points like high entry barriers and illiquidity.
🔺The bigger picture: For investors, this can provide fractional ownership of high-value hedge funds, democratizing access to alternative investments that are typically publicly inaccessible.
As TradFi players continue to expand their exposure to blockchain technology through alternative investment vehicles, SkyBridge Capital’s tokenization push showcases crypto’s role as a regulated rail for alternative investments.
As more capital allocators enter the space, it provides greater liquidity and opportunities to tap into blockchain capabilities and unlock previously inaccessible alternative investments.
Wyoming released its state-issued stablecoin FRNT to seven blockchains including Avalanche, with support for Rain in the coming days
JYPC issued a Japanese Yen-backed stablecoin to Avalanche, Ethereum and Polygon
ICYMI: Dinari launched its Avalanche L1, Dinari Financial Network, as an omni-chain orderbook designed to democratize the trading of US equities
Bowmore announced a line of tokenized whisky bottles, that are uniquely numbered and mintable as a digital NFT, in collaboration with Avalanche
Toyota Blockchain Lab released a techpaper with technical advisory from Ava Labs, exploring how Avalanche can transform vehicle financing, ownership and lifecycle management
Token Relations Avalanche Dashboard shows:
Euler saw an all-time high of $205M in TVL for its lending platform
1inch network recorded 11.7K transactions, a 285% increase on the week
Aave reached a yearly high of $858M in TVL
LFJ saw a 502.24% increase on the week in volume to $33M
Here’s Avalanche-based articles that made headlines this week.
Retro9000: Everything You Need To Know (Avalanche Blog)
$FRNT, Avalanche, and Rain Bring First State-Issued Stablecoin to Everyday Spending (Avalanche Team1 Dao)
Ava Labs Chief Strategy Officer Luigi D’Onorio DeMeo went on theCUBE + NYSE Wired to discuss how institutional blockchain adoption is accelerating
Check out the Avalanche blog for more updates.
Want to dive deeper into Avalanche?
Sign up for Hack2Build: Privacy Edition, Avalanche’s four-week online builder event with a $25K prize pool
Applications for Aphex Labs’ 12-week accelerator is open for early-stage teams that are building staking platforms, liquidity pools or yield farming tools on Avalanche
To get this newsletter delivered to your inbox every Wednesday, subscribe here.
This product was built by Token Relations.
This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.