What are the top projects on Avalanche’s Ecosystem?
- Trader Joe
- Imperium Empires
We all witnessed the astronomical rise of Avalanche the past year — 2021 was a momentous year for their ecosystem. This blockchain’s innovative systems led to an influx of projects that have since propelled the cryptocurrency, decentralized finance (DeFi), and blockchain space forward. And, many investors are keen on seeing which projects will continue to bloom in 2022.
That being said, which projects should you keep an eye on? We cover the top projects on Avalanche — ones with incredible growth potential, and may just help drive the web3 industry in coming years.
A decentralized exchange and yield farm platform, Trader Joe aims to be a one-stop-shop trading hub for the blockchain. Any user on Trader Joe can trade nearly every Avalanche token and earn yields through this platform’s pools. This year, Trader Joe is set to release more features — including a DAO, allowing users to shape the utility of its platform.
Currently, the value of this project lies in its liquidity system, in which anyone can become a liquidity provider. This helps with the decentralization of trading. In return, they are rewarded with the native token for every trade generated on the platform. The more transactions, the higher the pay — thus providing a form of passive income.
There are other benefits to this project — which you can read about here — and overall, the Trader Joe platform is easily adoptable, has a smooth interface, and blazingly fast transaction speeds. With more features coming, Trader Joe could possibly become the de facto DEX of Avalanche.
BenQi is a money market protocol — in simpler terms, it’s a project that enables users to lend, borrow and earn interest with their digital assets. What makes this project a must-watch on the ecosystem is that it is specifically built for this blockchain, and is backed by their founding organization, Avalabs.
Here, users can earn passive income by depositing their assets in the project’s liquidity pool, and even borrow from this pool — through with interest. So far, users find the dApp easy to use, and many find the minimal seamless entry and exit options quite valuable. This system allows users to keep their assets within the ecosystem and earn funds, while borrowers can gain funds at minimal interest rates.
However, it must be said that the competition for money market protocols in Avalanche is quite fierce. While BenQi is an Avalanche-native and currently leading the pack, other projects such as Aave and Curve are putting the pressure on BenQi — so we just have to see how it continues to grow in the Avalanche ecosystem.
GameFi — the hot topic of the cryptoverse for the last year. Thousands of games have launched on various platforms, but none quite match the Imperium Empires project. It’s one of the first AAA-quality Metaverses built on Avalanche that features innovative mechanics and protocols to solve the biggest sustainability problems with NFT Games. The launch of Imperium Empires could herald in the new era of GameFi 2.0!
Imperium Empires is a real-time strategy MMO game where players venture out into the great Imperium Metaverse to conquer and build up space empires as well as compete with other players — all on a fleet of NFT spaceships! It also features a comprehensive guild system and governance that is deeply intertwined with game mechanics. This system is the foundation of a new GameFi concept: Team-to-Earn! Players are encouraged to team up and earn together as a guild.
Since its initial launch and first NFT sales, the Imperium Empires team continues to make great strides in its game development — read about it here! Imperium Empire’s development aims to be completely transparent, so stay tuned to see all the project updates on how they’ll integrate DeFi 2.0 into their NFT drops, build its extensive team-to-earn guild governance structure, and refine their gameplay-tied staking mechanisms.
Kalao is a platform that connects NFTs with Virtual Reality. Its flagship product is the NFT marketplace, where users can buy, sell, and trade Virtual Reality assets — which can be in the form of NFTs, such as visual representations of luxury goods. Their current development plans are geared towards aggregating the NFTs on the Avalanche network into their platform.
Kalao aims to support various devices, such as mobile, laptop, and VR systems like Oculus. The main purpose of this project is to give users a way to truly see, enjoy, and show off their NFT collections by enabling them to create virtual galleries. And, their native token KLO, is used to create a tier-based system. Here, owning more KLO allows users to unlock more perks on their platform. Furthermore, Kalao is planning to implement DAO features such as voting on new functions, system upgrades, and services.
Though competition in the NFT project arena is stiff, Kalao offers a novel way — as one of the first VR applications on the platform — to use and trade NFTs. If they continue to develop their dApp to create a smooth and user-friendly experience, it stands a good chance of becoming a top player on the Avalanche ecosystem.
Posing as Avalanche’s “business incubator” — Colony’s main function is to raise funds to support new crypto ventures. It’s one of the first projects to offer such services and is also the first project that uses several ecosystem growth tools. Colony’s unique model also allows venture capital investment opportunities for its users, which is why it has attracted so much interest from users in the cryptocurrency community.
Aside from being a way for users to make investments in up-and-coming crypto projects, it also facilitates the growth of next-generation Avalanche projects. In short, Colony supports the expansion of the Avalanche ecosystem as a whole.
Their recent $18.5 Million financing round is solid proof that this project incubator is steadily becoming adopted by crypto investors — and will slowly change how projects are introduced into the Avalanche blockchain.
Avalanche is one of the fastest-growing ecosystems in the crypto universe. As a result, there are dozens of Avalanche projects that hold promise, but these top projects on Avalanche are the ones to watch! They provide innovative systems and services which put them at the top of our list — and users are expecting a lot of valuable development from these projects over the next months and years.