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6 months TVL65x, as good a chance as LUNA, Nansen reports

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In TVL alone, Avalanche went from less than $200 million in July to over $13 billion today, a 65-fold increase in six months.

原文作者: Nansen

原文编译：0x137

「雪崩热」

作为一个专注于速度和低交易成本的 EVM 兼容公链，Avalanche 旨在解决以太坊目前面临的扩容问题。目前，Avalanche 已经通过其一些核心功能实现了一系列愿景，譬如次秒级最终结算时间、通过 Snowball ++进行的独特共识协议升级、交易吞吐量以及拥有超过 1,200 个完整的、区块生成节点来验证网络。简而言之，Avalanche 以极微的成本为用户提供了他们熟知和喜爱的产品。

顺应多链共生的未来愿景，Avalanche 通过他们的 Avalanche Bridge 建立了最好的桥接体验之一。它使从以太坊桥接资产更安全、更便宜、更快捷，并且已经促进了价值超过 270 亿美元的代币从以太坊进出至自己的生态。同样重要的是 Avalanche 的共享安全模型，该模型能处理子网级别的需求，并允许应用程序选择其应用程序所需的安全性。这是与以太坊的一个关键区别，在以太坊中，应用程序往往会为安全性支付过高的费用。

在短短一年多的时间里，Avalanche 已经拥有了一个由原生应用程序和热门以太坊的协议组成的活跃生态系统。不可否认，Avalanche7 月份宣布的 1.8 亿美元流动性挖矿激励措施很大程度上促进了这种活动，但我们已经看到 TVL、交易量、桥接活动和许多其他指标方面持续稳定的增长。仅在 TVL 方面，Avalanche 就从 7 月份的不到 2 亿美元增加到如今的 130 多亿美元，6 个月内增长了 65 倍。

在基于 TVL 的 DeFi 应用程序排序中，前 10 应用中有 6 个是 Avalanche 的原生应用程序。这些应用程序通常是以太坊协议的分叉，并带有显著的 farming 激励措施，受到了用户极高的欢迎。这也从侧面凸显了围绕 Avalanche 作为优质公链所形成的社群效应。需要强调的是，Trader Joe 是一个原生 AMM，允许用户交易和质押，甚至允许您使用 Zap 功能，点击一下即可获得 LP 交易对。Trader Joe 在所有 DEX 中一直名列前 5 名，平均每日交易量约为 7.5 亿美元。Trader Joe 上的这些功能和用户活动以及 25 亿美元的 TVL，显示了 Avalanche 中不断增长的开发人员社区和有利可图的 LP 环境。Aave 和 Curve 等主要的以太坊项目也迁移到了 Avalanche，并提供了激励措施，进一步推动了流量进入这一生态。Avalanche 正迅速成为 DeFi、dApp 和企业解决方案的中心。

Avalanche 生态一览

Avalanche's ecosystem is very powerful and covers all major aspects of blockchain, from DeFi and DEX, to NFT, P2E, and more. Due to EVM compatibility, major Ethereum DeFi projects such as Aave and Curve can be easily migrated to Avalanche, further attracting traffic. Aave's TVL of all Avalanche projects is over $13.9 billion, accounting for the largest share of 25.82%, with TVL at $3.59 billion. They were followed by Trader Joe and Benqi, who were Avalanche's original deals and also gained huge popularity. Other notable Avalanche native Dapps include Wonderland (the most successful OHM fork with over $2 billion IN TVL), and Cradaba (a P2E game centered on undersea combat crabs).

Avalanche Bridge

Considering the future of multi-chain symbiosis, an important feature of L1 and even L2 is accessibility. It is important for users to be able to quickly, safely and inexpensively transfer tokens from one blockchain to another. Users can use Avalanche Bridge to transfer ERC20 tokens back and forth between Ethereum and Avalanche C-chain. This is a trust-free bridge that supports a variety of ERC-20 tokens, including the best known WETH, USDC and WBTC. The transfer is estimated to take 10-15 minutes in total and costs as little as $3 (from Ethereum to Avalanche). After the Avalanche Foundation announced $180 million in incentives in mid-August, we saw traffic surge for Avalanche Bridge, reaching $370 million on August 27 alone. With the launch of dApp, Avalanche became more and more popular. With the support of KOL, VENTURE capital agencies and incentive programs (Curve, Aave, Trader Joe, Benqi), Avalanche Bridge's activities continued to grow and maintained a high volume of transactions. It peaked at more than $600m on September 23rd.

Avalanche Bridge transactions (ETH to AVAX only)

交易 & Gas

Scalability is the main problem limiting the growth of many public chains. On Ethereum, high Gas due to congestion forced many developers to migrate their applications to other public chain and L2 solutions. When the cost of completing a simple transaction is higher than the value of the asset being traded, many operations become economically unviable, retail investors are forced out of the market and the business model of the application is eroded. This clearly limits ethereum's growth and even stifles broader cryptographic innovation.

以太坊 Gas 均价 (Gwei)

Volume and final settlement time & NBSP;

Avalanche's throughput is over 4,500 TPS, but the final settlement time is less than 2 seconds, which is very competitive compared to other public chains. The data graph below highlights how daily transactions on Avalanche's network have grown steadily over the past six months, and this appeal is mirrored by the increasing number of projects joining the Avalanche ecosystem from DEFi primitives such as DEX, AMM, asset management agreements, To NFT and enterprise level adoption.

Just daily Txs

In early August, daily transactions spiked, not least in connection with Avalanche's $180 million incentive program, which attracted blue-chip DeFi apps to start deploying on Avalanche. In addition, we will see another significant increase in November due to a major partnership announcement with platforms such as Deloitte. In addition, with a recent partnership with Fireblocks, a leading provider of digital asset escrow and settlement solutions, the increase in the number of daily transactions is expected to increase significantly in the coming months.

Gas of the Day: Ethereum vs Avalanche

From the chart above, one can also observe that the daily gas paid on Ethereum started to increase significantly in August, mainly due to the rise of the NFT project that was deployed this summer. The high cost of gas on Ethereum has forced many projects to seek to expand on other public chains where it is cheaper and more liquid to deploy their projects. Avalanche is able to create fast, low cost and Solidity compatible DApps, so various NFT projects have started to deploy using the network. These include Topps NFT Market (designed for global sports fans hungry for scale and speed), Kalao (NFT ecosystem to unleash meta-cosmic experiences), Venly Market (point-to-point NFT Market) and Crabada (P2E NFT games). In addition, the Avalanche Foundation recently raised $200 million, a portion of which will be dedicated to NFT and cultural applications. But it's worth noting that the most active apps on Avalanche are still DeFi dApps, such as Trader Joe and Pangolin (both DEX), which account for 23% and 7.5% of all on-chain activity, respectively.

Transaction volume: Ethereum vs. Avalanche

Avalanche 和以太坊之间的交易比率一直在显着增加，特别是自 8 月份以来。这一比例从 8 月初的 1% 上升到 11 月 26 日的 54% 的峰值。为了突出 Avalanche 的性能，让我们参考上一幅每日 gas 成本的图表。11 月 26 日，AVAX 支付的 gas 为 1,311,682 美元，而以太坊的 gas 则为 51,389,748 美元。虽然 AVAX 当日交易量已经超过以太坊的一半，但处理这些交易的成本比以太坊低了 20 倍以上。

总结

Given the increasing demand for block space, many L1s and L2s have been exploring new and scalable design approaches, primarily around different consensus mechanisms and execution environments to generate higher performance and lower costs. In general, liquidity incentive measures are used to encourage users to use the public chain as a mechanism to guide liquidity. But as we've seen time and time again, that liquidity isn't loyal, and when those incentives run out, we need to focus more on apps that stand out. Avalanche has gained a lot of traction over the past 12 months, and we're excited to see what it does in the crypto world of the future.