Best Avalanche High Yield Farms.

The announcement of 180M liquidity mining in the Avalanche $AVAX ecosystem is a catalyst for TVL as I have been an active user of the avalanche ecosystem since its beginnings, through the recent bear market, In this article, you’ll find an overview of the avalanche chain as well as some of the main projects and what comes next.

C-Chain, X-chain: What you need to know

Avax DeFi lives on the “C-Chain”, the C-Chain is an EVM compatible layer that means any Ethereum based smart contract can be deployed on the Avax C-chain without any modifications of the code. an example of EVM chains are (BSC, Polygon…).

Exchanges often withdraw to the “X-Chain”. the X-chain is a different chain within the avalanche ecosystem and is not EVM compatible, funds on the X-chain can ‘currently’ only be used for transfers, Most people buy $AVAX on Binance and withdraw it to their X-chain wallet, then bridge it to their EVM compatible C-chain wallet.

You can use the native avalanche wallet to swap between these exchanges then withdraw on the C-Chain to your Metamask. Or you can use their new bridge!

The first 6 months of the avalanche were brutal, The C-chain & old avax bridge was expensive and quite clunky UXs, that really kept AVAX user’s growth minimal. It was just a small group of early adopters (who held $AVAX) or some degens who came for the early farming opportunities.

A small core group of projects survived the first 6 months and start to build communities. I’ve enjoyed many months of 3-4 fig APR farming, and some insane drawdowns also.

The catalyst

Titled “Avalanche Rush,” a 180m liquidity mining program with a DeFi focus was announced August 18th, 2021, the program will bring blue-chip DeFi applications to Avalanche, starting with two popular protocols, Aave and Curve

This recent announcement highlights two critical catalysts: 

  • Validation of the ecosystem with players like Curve and Aave coming to town.
  • A 180M Liquidity Mining Program. similar Matic, Aave program was about 40M. This fund will expand to more projects.

Avalanche Farms:

  • Pangolin: $PNG Docs the first dex on Avalanche, First mover in the space and in recent months has formed a strong team and governance process as a community. Easily the highest valued dapp on Avax c-chain currently.
  • Snowball: $SNOB Docs The first auto-compounder and stable-asset exchange on the network, they have grown into a strong compounder, IDO, and stablecoin vault. You can think of this as a native curve with yield farming products.
  • Penguin Finance: $Pefi Docs Avalanche-native DeFi Hub, Pefi offers an IDO, compounders, and a xPEFI lockup model with compounding returns. Significant products coming up include sports prediction markets and gambling games via penguin arena.
  • Traderjoexyz: $JOE Docs A newer DEX in recent months. Arose in response to perceptions around PNG being a slow mover. Joe has been a degen favorite and integrated well with snob, pefi, and other projects in the ecosystem.
  • Benqi Finance: $Qi Docs First native lending markets to AVAX. Should be pretty instrumental in unlocking further capital efficiency in coming weeks/months
  • Sherpa: $Sherpa Docs Tornado cash fork on avalanche, private transactions, fairly new.

Written by LePu

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