As of October 2021, Avalanche blockchain is the fifth largest blockchain in total-value-locked (TVL), according to DefiLlama. The involvement of big-name investors (Three Arrows Capital, Polychain, Delphi Digital, and Coin98 Ventures) in the blockchain’s development and its DeFi applications has attracted significant attention.
Avalanche’s rise has also brought with it the success of its native decentralised exchange (DEX) Trader Joe. Unlike other DEX’s such as Uniswap, its native token JOE has a finite 500 million token supply which is distributed at a rapidly diminishing rate. This has helped propel Trader Joe to the top since its July launch, surpassing Pangolin, the first major DEX on the Avalanche blockchain.
Read the full version of the Trader Joe: One DEX’s Rise to the Top of Avalanche here.