Is there your wealth password: From DFK to Beam, a review of Avalanche's subnets
The Avalanche public chain has recently shown signs of recovery, and the prosperity of its subnet has correspondingly increased!Author: Vanguard 0
Recently, the price of AVAX has been continuously rising, attracting market attention to its ecosystem. With the explosive growth of DeFi and NFT applications, a single blockchain is unable to meet the needs of all Web3 users. As a result, more and more blockchain networks are joining the competition. Many emerging public chains are beginning to focus on providing customized services and features.
Avalanche subnets are application-specific blockchains within the Avalanche ecosystem, offering excellent customization capabilities and configuration space. Avalanche subnets not only provide a more ideal user experience but also save developers time and costs, offering better dApp development tools. More importantly, these designs make the Web3 experience more intuitive and smooth, helping to drive the mass adoption of Web3.
AVAX Token Price Trend
Currently, Avalanche subnets have already helped multiple dApps optimize performance and improve user experience. More importantly, these dApps can inherit Avalanche's security and decentralization levels. This article will review and summarize the subnets on Avalanche.
The subnet mechanism has been launched for over a year, and there are now more than 40 subnets on Avalanche, with about 10 currently in operation. The following have seen transaction volumes exceeding 100,000 in the last 30 days.
DFK: Combining DeFi with Gaming, Monthly Transactions Exceeding Ten Million
DFK is specifically designed for the blockchain game DeFi Kingdoms and is one of the earliest Avalanche subnets, having been operational for a year and a half. In terms of transaction volume, it is currently the most active subnet, with over ten million transactions in the last 30 days.
DeFi Kingdoms is a pioneering project that combines DeFi with gaming, with gameplay primarily based on NFT heroes engaging in a series of narratives, including hero summoning, upgrading, and team battles. DeFi Kingdoms originated on the Harmony blockchain, contributing a significant portion of the transaction volume and TVL on Harmony. To better expand its project ceiling and become a cross-chain gaming empire, Avax became its first destination, and DFK utilized Avax's subnet technology to build its own dedicated public chain.
The high customizability of the Avax subnet provides many conveniences for DFK; it is not only stable and cost-effective, but DFK does not need to use AVAX tokens as gas fees, opting instead for the governance token Jewel. Jewel has become the gas payment token, further endowing it with more practical functions.
DFK is the first successful subnet project launched under Avax's strategic deployment, gaining significant attention within the Avalanche ecosystem. In just two days, DFK attracted a large amount of capital to the Avax ecosystem, with the total amount of funds crossing from Synapse to Avalanche reaching as high as $400 million, and the peak UAW reaching 51,000.
The lifespan of GameFi games is often short, and DFK is no exception. Its past glory is hard to sustain, and its on-chain data and influence are gradually declining, but it can still serve as a benchmark image for Avax subnets.
Beam: Developing a Relatively Complete Gaming Ecosystem
Beam is a gaming ecosystem launched by the gaming guild Merit Circle. Currently, Beam operates as an Avalanche subnet. In this role, Beam is not just an independent blockchain but part of a vibrant interconnected network. It benefits from the scalability, speed, and security features of the Avalanche protocol while having the capability to operate independently, specifically tailored for gaming applications.
Currently, Beam is still in developer preview mode, utilizing a reputation-based consensus method known as Proof of Authority (PoA), enhanced by the Snowman protocol. This setup delegates a selected group of reputable institutions to validate transactions, thereby protecting the integrity of the blockchain. The PoA model emphasizes the value of the validators' reputation, who are carefully chosen based on their trustworthiness. While this may seem restrictive at first glance, considering that every entity on the network is verified and trusted, it is a strategic move to ensure quality and security.
To interact with the Beam network, the $BEAM token is required. The $BEAM token is derived from Merit Circle's native token $MC and serves as the native currency for transaction payments within the Beam network. This includes not only value transfers but also all interactions with smart contracts on the Beam network, facilitating a seamless and immersive gaming experience.
Currently, Beam's gaming ecosystem blueprint is relatively complete, already including a gaming application market, NFT market, token exchange market, cross-chain bridge, and other supporting facilities. Coupled with Merit Circle's investment layout in the GameFi ecosystem and its extensive member base, it is highly anticipated.
Dexalot: A Decentralized Exchange with No Slippage or Custodial Risks
Dexalot is a revolutionary decentralized exchange designed to bring the look and feel of traditional centralized exchanges through decentralized on-chain applications. Dexalot users can trade cryptocurrencies securely and efficiently, without slippage or custodial risks. Dexalot implements an on-chain central limit order book mechanism, allowing users to trade via limit orders, similar to traditional exchanges, supporting AVAX and other ERC20 tokens.
After being deployed to the subnet, Dexalot operates as a dual-chain application, existing on both the Avalanche C-Chain (mainnet) and Dexalot Subnet. The mainnet and subnet utilize bridge technology to facilitate the transfer of essential information. In this new architecture, users deposit tokens from the mainnet and trade and withdraw on the subnet. The benefit of this approach is that when transactions occur on the subnet, the assets never leave the native chain. The new dual-chain architecture allows Dexalot to offload many complex operations to the subnet, improving speed while reducing gas fees.
Overall, the subnet provides Dexalot with a significantly enhanced trading experience, cheaper trading fees, better liquidity, and improved responsiveness. According to data from DefiLlama, as the AVAX ecosystem heats up, the trading volume on Dexalot continues to rise.
Hubble Exchange: Trading Perpetual Futures Contracts with Multiple Tokens as Collateral
Hubble Exchange is a decentralized platform that allows traders to use multiple tokens as collateral to trade perpetual futures contracts. It accepts AVAX, USDC, and Hubble Virtual USD (hUSD) as collateral, with plans to add BTC, ETH, and Avalanche native assets in the future. With its multi-collateral and cross-margin design, Hubble Exchange aims to leverage Avalanche's low fees and highly scalable infrastructure to provide an Avalanche-native experience for perpetual futures trading.
The Hubble net subnet has chosen to use USDC as the gas token. Traders will be able to connect their local USDC from any chain to Hubble net. This means that since gas is paid with USDC, validators on Hubble net will receive actual earnings. It also simplifies the process of building dApps on Hubble net, making it agnostic to any specific ecosystem.
Currently, its official website indicates that it is still in the testnet phase.
UPTN: Integrating into Many Popular Services and Applications of SK Planet
UPTN is launched by SK Planet, one of South Korea's largest information and communication technology platforms. A subsidiary of SK Square, SK Planet provides e-commerce and digital marketing solutions, including some of South Korea's most popular loyalty programs. By collaborating with global partners like Ava Labs, SK Planet aims to expand its platform not only in Asia but also in other strategic markets worldwide. The subnet will serve as a Web3 portal for millions of SK Planet users. The UPTN subnet will serve as the foundation for digital collectibles, Web3 wallets, decentralized communities, and more.
UPTN will be integrated into many popular services and applications of SK Planet, such as OKcashbag (OCB). OCB is South Korea's largest e-commerce loyalty program, with members accounting for nearly half of the South Korean population. The OCB community will gain access to NFTs supported by the Avalanche protocol, unique community features, and dynamic membership benefits. Key features of the UPTN platform include:
- User-friendly blockchain wallet: Users can easily create a blockchain wallet through social login features, managing and transferring NFTs, coins, and other digital assets.
- Secure asset protection: Non-custodial methods are used to protect user assets, ensuring their safety.
- Community interaction: UPTN provides a platform for NFT and coin holders to share useful information and communicate with each other.
- EVM compatibility: The platform supports smart contracts built with Solidity, making it user-friendly.
- Meta Transaction: By covering network fees (Gas Fee), it alleviates the burden on users and enhances the user experience.
- High performance: The UPTN blockchain has a fast processing speed, capable of handling over 6,000 transactions per second, ensuring good scalability.
- Independent and stable network: The UPTN network is independent of the Avalanche Mainnet, with no block merging or rollback, ensuring network stability.
Additionally, UPTN supports users in easily transitioning to WEB 3.0, including the conversion of emerging assets like NFTs. The platform plans to include features such as NFT ticketing, community building, and marketplace functionalities in the future. UPTN is also working with multiple partners to provide better blockchain services and experiences.
XANA: Japan's Leading Metaverse Platform
XANA is a leading AI-driven Metaverse and SocialFi platform, ranking first in the Web3 Metaverse space in Japan. It integrates AI, Metaverse, and Web3 technologies to provide unique virtual experiences, allowing users to create AI avatars, interact in a user-generated content universe, and participate in various Web3.0 games. In XANA, users can create and customize AI avatars, explore and build in the metaverse, engage in Web3.0 games, and participate in SocialFi activities.
The XANA platform supports smartphones, PCs, and VR, allowing users to become their virtual avatars and engage in various life and economic activities. XANA has particularly launched a virtual land trading system, where users can buy, sell, or lease these lands with verified ownership, providing creators with space to build worlds. Additionally, XANA has created a digital asset marketplace, Xanalia, focusing on the trading of digital fashion and other virtual assets.
XANA's ecosystem token is $XETA. Users can earn $XETA through various activities, including playing Web3.0 games, participating in SocialFi programs, creating and selling digital content, and utilizing the $XETA token economy. Profits from metaverse activities can also be converted into real-world wealth.
XANA has partnered with major institutions across various fields, showcasing well-known brands such as the Olympics, Tokyo City, Fuji Group, and top anime brands in the XANA Metaverse, and is expanding to other countries to seek further development of virtual businesses.
Step Network: The First Application is a Fitness App that Rewards Users for Physical Activity
Step Network is a lifestyle, fitness, and consumption-oriented blockchain network. The Step Network blockchain is built using Avalanche's subnet and incorporates additional elements, combining stable network security with faster throughput to provide a foundation for internet-scale applications.
One of the main projects of Step Network is the Step App, a fitness application that rewards users for their physical activities. Users can work out at home while enjoying guidance from an AI coach and can exchange KCAL for health-related products and services in the KCAL marketplace. Additionally, Step App users can own unique assets such as watches, sneakers, and headphones.
The platform also collaborates with numerous global brands to provide users with discounts and enhanced transactions on everyday services and products. Step Network offers a new way to reward users for their movement and health, inspiring a new lifestyle.
Avalanche's Subnets Maintain High Activity Levels, Future Development Potential is Worth Watching
Observing the subnet ecosystem reveals that Avalanche's subnet technology adds vitality to its blockchain ecosystem, particularly in the gaming and DeFi sectors. These subnets provide developers with a high-performance, customizable platform that enables them to realize innovative blockchain applications. With the successful implementation of Avalanche subnets in gaming projects and their layout in DeFi and other areas, Avalanche is poised to play a significant role in the App Chain competition. These achievements not only showcase the powerful potential of Avalanche technology but also indicate its future development direction in the blockchain field.
