Avalanche

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The collapse of Terra’s ecosystem – more specifically, the depeg of UST and the subsequent crash of LUNA – are undoubtedly crypto’s hottest story in 2022 and perhaps even beyond.
Speaking on the matter was the founder of Avalanche – Emin Gun Sirer. He noted how Terra’s previous growth affected other blockchains and what its collapse meant for the AVAX ecosystem and the broader cryptocurrency community.
Terra’s Growth Suppressed Other Chains
In an interview with Forbes’ Steven Ehrlich, Emin Gun Sirer – the founder of Avalanche – revealed his thoughts on the massive growth of Terra in the past year and the recent UST – LUNA collapse.
The Terra situation is highly regrettable. As you know Terra started out slightly before we (read Avalanche) did and it just blossomed. It ended up attracting a lot of the money and a lot of the growth of the space that would have gone to either AVAX or maybe Solana or some of the other latest-generations high-speed chains started going to LUNA.
He explained that at some point, projects such as Avalanche were getting choked by LUNA’s fast growth. This, in turn, caused many other chains to copy developments on Terra. His team, though, steered clear from undertakings of the kind.
We were smart enough to notice that we couldn’t do this. There are many reasons why not, but running a stablecoin of that kind with those kinds of feedback loops, it takes an enormous team with operational ability to try to keep that peg. We knew that we didn’t have that ability.
Sirer assured that there are no US-based teams that can deliver the regulatory structure for such an initiative.
Swapping $60M in AVAX for LUNA and UST Before the Crash
Realizing that Terra’s growth shouldn’t be ignored, Sirer said that they decided to partner up with them through a token swap.
He pointed out that they swapped some $60 million worth of AVAX for LUNA and UST tokens in a bid to form a partnership with Terra. This would, however, turn out to be a losing bet.
The founder shared that all of their LUNA tokens essentially went to zero, but they were able to redeem a part of their UST for dollars. Despite all of the above, he also said that this didn’t cause any economic challenges for Avalanche because the sum was insignificant and that it can be “cleared in a day.”
On the other side – he also shared that they’ve been in talks with the team behind Terra, and the AVAX that they swapped for hasn’t been dumped, but instead – it’s “the most valuable thing they hold,” and he doesn’t foresee them selling it going forward.
Compared to Mt.Gox
Avalanche’s founder also compared the fall of UST and LUNA to a distant event – one that was also particularly devastating for the broader industry – the hack of the Mt. Gox cryptocurrency exchange.
Sirer also spoke of the DAO hack
– another watershed moment in crypto’s relatively young history – but said that comparison to Mt. Gox is more accurate.
I would compare it to Mt. Gox. I think the Mt. Gox crash was far more significant, it affecte dmore coins, more people. Now, we as an industry, ended up learninga valuable lesson about algorithmic stablecoins.
What I fear, though, is that this kind of event invites in regulators.
Featured image courtesy of Flickr


Avalanche Founder Emin Gun Sirer compared the fall of UST and LUNA to the hack of Mt. Gox. 

cryptopotato.com

Avalanche Founder Compares LUNA’s Collapse to Mt. Gox

Avalanche (AVAX), dubbed the “Ethereum killer,” has plunged to more than 16% following the disastrous crypto market scenario. Other crypto tokens that are also competitors to Ethereum have had massive double-digit losses in the last 24 hours.
AVAX, considered the 13th biggest cryptocurrency with a market cap of $7.6 billion, has dramatically sloughed off over 16% of its TVL in the past few hours, and is now trading at $27.94.
AVAX Treading The Bearish Path
AVAX is leading the bearish action, which has placed the token down by 80% compared to its all-time high, which registered an impressive $146.22 in November 2021.
The downward trend is triggered by the sluggish growth of different DeFi projects hedged on Avalanche.
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Avalanche – Ethereum Rival
Ethereum is said to be slow and expensive in pricing, which paved the way for the creation of Avalance, which is eco-friendly, fast, and affordable.
Avalance was created by Ava Labs, co-founded by Kevin Sekniqi, Emin Gün Sirer, and Maofan “Ted” Yin.
The Ethereum-killer, Avalanche, is a blockchain that combines the trailblazing speed in confirmation times plus scaling capabilities using the Avalanche Consensus Protocol, which can process over 4,500 transactions per second (TPS).

AVAX total market cap at $8.98 billion on the daily chart | Source: TradingView.com
Avalanche went live and was launched in September 2020 and is considered one of the most reputable blockchains giants. Avalance now has a TVL of $11 billion, ranking it as the fourth-largest DeFI-based blockchain, following Terra and Binance Smart Chain.
Avalanche has derived some protocols from Ethereum that you can experience in their DeFi ecosystem, including SushiSwap, decentralized exchange protocol, and Aave, its lending protocol.
DeFi Projects TVL Down by 8.57%
The TVL of DeFi protocols on the Avalanche blockchain is currently down by 8.57% in the last 24 hours or at $4.74 billion. This is relatively low compared to its all-time-high TVL, which went as high as $13.7 billion on December 2, 2021.
The dip that registered at 7.5% was pretty significant for AVAX.
TraderJoe, considered the most prominent decentralized exchange on Avalanche, plunged to 12.84 % in terms of the user base. Liquidity also decreased from $982 million to $577 million in barely a month.
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Total active wallets found on the Avalanche network escalated to over 2.8 million yesterday, which is its all-time high. However, despite the increase in active wallets, the token still was bearish.
To make matters worse, Avalanche total transactions have also dipped to only 358,474 from 800,000 last week. 
The numbers have plummeted miserably, especially if you compare the figures to its all-time high, which registered at 1.1 million daily on January 27, 2022.
Featured image from Saanich News, chart from TradingView.com


Avalanche (AVAX), dubbed the &#8220;Ethereum killer,&#8221; has plunged to more than 16% following the disastrous crypto market scenario. Other crypto tokens that are also competitors to Ethereum have had massive double-digit losses in the last 24 hours. AVAX, considered the 13th biggest cryptocu...

newsbtc.com

Avalanche Crumbles More Than 16% As Crypto Landslide Continues

PRESS RELEASE.
 MetaOasis Wins the Double in Hackathon Competitions
Three months ago, MetaOasis won the championship in Metaverse Alliance 2021 Global Metathon. Three months later, MetaOasis got the most votes and beat 112 competitors in the recent Avalanche Asia Hackathon. Therefore, MetaOasis will become the first project that wins the double in international hackathon competitions in the gamefi history.
What worth mentioning is that Avalanche Asia Hackathon set up an algorithm mechanism which can prevent repeated voting. That’s to say, all votes were from loyal supporters of the project, which makes the votes be of great value, and it also shows that MetaOasis deserve the championship by having the strength with strong and real user base.
Who is the Champion-MetaOasis？
MetaOasis is the next-generation game publishing platform linking Web2 and Web3. Meanwhile, MetaOasis will launch the first self-developed big game, making it the core to gather excellent game around the world into MetaOasis.
As the first gamefi that can provides players with a rich and interesting experience like traditional games, MetaOasis is confident that it will attract more traditional players into the platform. Moreover, a series of revolutionary initiatives within the platform will continue to help users and empower developers.
For Users: Low Threshold but More Fun
MetaOasis built a “buffer zone” for new users, especially for the traditional internet users to come into WEB3.0. Through the innovative “inter-linked account” mechanism, “buffer token” mechanism, and compatible with the traditional game IAP (In-App Purchase) channel, users can choose either quick registration to experience the platform first or immediate registration for blockchain wallet, which avoids traditional users’ excitement diminishing due to the learning difficulty and financial risks of entering the blockchain space, and enables users to enter the WEB3.0 world more smoothly.
MetaOasis used a professional game engine, and through the disclosed video, we can see the definition of MetaOasis’s frames is at a high level. Moreover, MetaOasis is built by a mature R&D game company with more than 100 employers and a blockchain technology team. Therefore, different from other gamefi which are not attractive enough, MetaOasis offers multiple ways for players to play: battle, construction, exploration, collection, mission, social, etc. For example, MetaOasis encourages players to participate in social activities as well as challenging others in the form of parties, or occupy other players’ lands, and eventually get the rewards! MetaOasis makes gamefi get back to game, and allows players to have fun.
For Developers: More Users, Stronger Empowerment
MetaOasis is not only a platform to create content for professional R&D teams, but also a series of strong empowerment by offering instruction of gamefi change for researchers and developers.
NFT Interoperation
MetaOasis changed the situation that different gamefi NFTs are unable to inter-operate with each other with a well-designed solution MNP30(MetaOasis NFTs Protocol, as shown below) for the industry. In a few words, it allows users to accumulate and interoperate their NFTs owning in different games of the platform or other achievements by building a set of exchange standards and protocols, and this will lower the threshold of repeated user investment to a certain extent and also make the value of user accumulation more sustainable.
 

SDK for Multiple Platforms and Development Tools
High-qualified content is the key to attract users, therefore MetaOasis hopes that developers focus on applications or games, and provide a series of SDKs for developers to deploy mechanisms without too much effort. Moreover, the SDK is suitable for a variety of platforms and development tools, which means that whether it is a project for WebGL or a traditional game developed by Unreal or unity, it can all be covered. At the same time, based on open digital identity and home, MetaOasis will also offer some development tools to users, allowing all users participate in UCG development.
Sharing the Platform Ecosystem
Content-creators can share the advantages of the platform ecosystem in community traffic, marketing, technology resource, etc, making their works being more likely to be approved in the market. Those contents approved by most people will be shown in the MetaOasis metaverse in the form of special stars, building a game world which keeps developing and changing, together with mainverse games.
Overall, MetaOasis has shown the potential to truly become a next-generation game publishing platform, giving us a glimpse of the new development direction and prosperity of the gamefi ecosystem. Meanwhile, Project CH, the first core project of MetaOasis, has also revealed a large number of milestone achievements with high degree of completion and complexity, which gives us every reason to expect that an epoch-making project will come out soon.
About MetaOasis
MetaOasis is the next-generation game publishing platform linking Web2 and Web3. MetaOasis reduces the entry threshold of Web2 users by building the infrastructure of Web2 and Web3 integration and also provides a series of tools for Web3 game developers to solve user login and payment problems. Allow developers to focus on making products.
Meanwhile, MetaOasis will release the main universe game that meets the game’s specifications as well: Project: CH, and self-developed ecological games such as “Puzzle Game” and “Embassy Planet” are already online.
Contact
Official Website: https://www.metaoasis.cc/
Twitter:https://twitter.com/Metaoasis_ @Metaoasis_
Discord: https://discord.gg/metaoasis
Telegram: https://t.me/metaoasis
Medium:https://metaoasis.medium.com/
Reddit: https://www.reddit.com/user/Meta-oasis/
Youtube: https://www.youtube.com/channel/UCGLcR_Q72Uvpjf-NDuLgc6Q/featured
 
 

This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.



























PRESS RELEASE. MetaOasis Wins the Double in Hackathon Competitions Three months ago, MetaOasis won the championship in Metaverse Alliance 2021 Global Metathon. Three months later, MetaOasis got the most votes and beat 112 competitors in the recent Avalanche Asia Hackathon. Therefore, MetaOasis wi...

news.bitcoin.com

MetaOasis AVAX Hackathon News Report

The collateral damage of Terra’s collapse could continue to impact Avalanche price, especially considering that the Luna Foundation Guard holds 1.97 million AVAX tokens.

cointelegraph.com

Here’s why Terra’s snowball effect could send Avalanche (AVAX) price to $15

Following tweets from Terra founder Do Kwon, LUNA surged by over 1,500% on Saturday. However, with several exchanges halting deposits, only those who entered at the very bottom have seen these gains. This comes as AVAX and NEAR both fell by over 20%.
Avalanche (AVAX)
Although LUNA was undoubtedly today’s biggest gainer, recent volatility and price action makes it almost impossible to truly analyze.
However, another relative big mover in today’s session was AVAX, which fell by as much as 20%.
AVAX/USD slipped to an intraday low of $29.55, which as of writing, is 20.83% lower than Friday’s peak of $37.72.

Since breaking out of its long-term support level of $65.60 only ten days ago, AVAX has dropped for eight of those sessions, to now trading at a new floor.
This new support looks to be the $28.80 level, which is marginally above a nine-month low in prices.
Despite this recent decline in value, bulls are optimistic about a recovery, as the RSI hovers in oversold territory, which has led some to believe that price strength can only go up from here. 

Near Protocol (NEAR)
SOL was also down close to 20% on Saturday, however the drop in NEAR sent prices closer to a nine-month low of its own.
Following a high of $7.58 on Friday, NEAR/USD sank to an intraday bottom of $5.98, which is over 21% lower than yesterday’s price.
NEAR has broken out of two key support levels in the last ten days —first, that of the $12.60 point, and more recently the $9.90 level.

As a result of these drops, it has been a struggle for traders to find a new floor, however this seems to have come at $6.00.
Despite prices falling to $3.57 earlier this week, which is the lowest level since last August, we have seen a slight recovery, as AVAX consolidates at the new support point. 
The RSI is also tracking in oversold territory, and as of writing is at 25.76, which is its weakest point since September 2020, when the first AVAX token was issued.
Is this an ideal time for bulls to re-enter the market? Let us know your thoughts in the comments.



























Following tweets from Terra founder Do Kwon, LUNA surged by over 1,500% on Saturday. However, with several exchanges halting deposits, only those who entered at the very bottom have seen these gains. This comes as AVAX and NEAR both fell by over 20%. Avalanche (AVAX) Although LUNA was undoubtedly...

Avalanche price	$29.73
Low - High 24H	$28.72 - $30.45
Market cap	$8.00B
Volume 24H	$383.35M
All time high	$144.96 -79.53% November 21st 2021
All time low	$2.80 959.15% December 31st 2020
Genesis date	N/A

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