stub Roundup: Core Extends to EVM-Compatible Chains, CurateDAO Launches on Avalanche and more - Securities.io
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Roundup: Core Extends to EVM-Compatible Chains, CurateDAO Launches on Avalanche and more

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During the Avalanche Summit held in Spain earlier this year, Ava Labs Head of Product, Nick Mussallem, announced the launch of the native wallet app dubbed Core. The non-custodial browser extension is designed to galvanize Avalanche products under one roof and more or less automate otherwise complex tasks. The offering, first announced in Barcelona, launched in June. Core wallet functionality includes portfolio management, buying/swapping, account switching, and Subnet-support. It also supports bridging with Bitcoin, which allows BTC holders to use their tokens in Avalanche's DeFi ecosystem.

Core wallet adds support for Ethereum and EVM-compatible chains

On August 8, Avalanche expanded its scope of support for the Core offering, adding Ethereum and, in extension, all EVM-compatible networks, including Tron, Binance Smart Chain, and Fantom. The update now means EVM-compatible layer twos and custom Avalanche Subnets are now included in the whitelisted chains.

Faster switching across networks

While Avalanche has been focused on shifting its user activity to the Subnet level for the essence of scaling, the user experience remains a top priority. Core has since included a fast-switching feature that allows swift toggling across Avalanche, Ethereum (and EVM-supported chains) and Bitcoin.

Automatic native support for new Subnets

The latest Core edition offers automatic native support for newly launched Subnets, meaning it is no longer necessary to manually keep tabs on every single Subnet/ token launch in an already rapidly evolving Avalanche ecosystem.

In addition to saving time when incorporating new networks, users are now assured they will not lose out or fall behind as the network evolves. Nick Mussallem, the product head, said Core now delivers asset management and seamless switching across chains & decentralized applications, all while hitting the heights of Web2 user experience standards.

Avalanche's daily transactions set an ATH count

Sharing via a tweet update, Ava Labs Head of Engineering Patrick O'Grady teased the release of the AvalancheGo Verbier upgrade. O'Grady confirmed that Verbier is one of the releases included in the “large and expansive changes” the blockchain outfit has been shipping to the PlatformVM in anticipation of v1.8.0.

With the number of developments on the Avalanche network, it's no surprise that the transaction count has been setting and resetting all-time highs.

Avalanche Transactions. Source: Avalanche Subnet Explorer

Data from Avalanche Subnet Explorer shows there have been new peaks set on consecutive days, starting from 1.38 million transactions on August 8 to the 1.683 million transactions recorded on August 11.

CurateDAO's curate-to-earn protocol launches on Avalanche

CurateDAO, on August 9, announced the launch of a decentralized data curation ecosystem akin to Pinterest but built on the Avalanche blockchain. The curate-to-earn protocol mirrors the play-to-earn (P2E) platforms that became supremely popular in blockchain gaming last year, dominantly so with Axie Infinity. CurateDAO's ecosystem is built on incentivization, just as other earn-modeled platforms. Users gain rewards in crypto tokens for completing various tasks based on their roles; participants are required to submit their curated lists to the project's database.

There are various positions within the project's ecosystem – curators, scouts, and viewers. While scouts seek and find content that aligns with database requirements, the curators first mint and establish rules (that define the information that must be present in a curation) for the said database. A curator could be a person, a decentralized autonomous organization (DAO), or a GPT-3-like artificial intelligence (AI) software. Viewers only engage by looking at content, but what they pay (to gain access to the content or via the advertisements they watch) goes to the coffers of curators and scouts.

Michael Fischer, Creator of CurateDAO, believes that incentivization will go a long way in amassing user-generated content similar to how Web2 does it. CurateDAO isn't fully settled yet as it aims to migrate to a Subnet with financing from Avalanched Blizzard – an Avalanche ecosystem fund. Notably, the venture comes less than a month since Gamestar+ announced a strategic partnership with Avalanche to integrate Web3 and P2E.

The interactive social game night streaming platform confirmed the agreement with Ava Labs, which will see the development of a technological framework powered with robust Web3 and play-to-earn features. Gamestar+ will introduce gaming experiences of prominent and well-known entertainment brands such as Family Feud and Scene It on Avalanche.

Perpetual futures trades are now supported on Avalanche

Decentralized cross-margin perpetual futures platform Hubble Exchange last week (August 9) launched a native perpetual futures exchange on the Avalanche blockchain. Users can now collateralize their tokens to trade perpetual futures contracts while also using the very tokens to gain exposure to digital assets. At the moment, traders can collateralize USDC, AVAX, and Hubble Virtual USD (hUSD) but should expect support for Avalanche assets, Bitcoin and ETH soon.

Further, on this multi-collateral trading platform, market makers can provide liquidity on up to 5x leverage and earn trading fees on the leveraged liquidity, thereby enabling them to gain more utility for the assets they hold on Avalanche.

Hubble Exchange underwent an Ignition Period last Monday, during which it gathered initial liquidity. The following day, trading and incentivized liquidity mining kicked off, with AVAX-PERP being the first virtual Automated Market Maker (vAMM). There are plans to integrate ETH-PERP and BTC-PERP pairs in the future.

To learn more about Avalanche, visit our Investing in Avalanche guide.

Sam is a financial content specialist with a keen interest in the blockchain space. He has worked with several firms and media outlets in the Finance and Cybersecurity fields.