SushiSwap (Avalanche)

The team behind the project plans to dethrone Ethereum as the leading network for smart contracts. The Avalanche specialists assert that it is possible to attain with the help of a higher throughput capacity. They claim, in particular, that the technology employed by the platform tackles up to 6,500 tps without compromising scalability. What’s more, this excellent alternative to Ethereum continues to grow and develop driving popular DeFi projects under its roof.

Avalanche technology

Avalanche relies on a unique architecture that includes three blockchains: X-Chain, C-Chain, and P-Chain, each of them employing different consensus mechanisms and pursuing different goals. This is an absolutely different approach to the technology compared to the schemes used by other popular blockchains. Avalanche has developed a mechanism employing all nodes for the validation of transactions.

In its architecture, Avalanche employs subnetworks, a designed set of validators working jointly to achieve consensus on the state of underlying blockchains. Each blockchain is validated by a single subnet. At the same time, each subnet can validate many blockchains. In this way, a validator can be a member of numerous subnets. There are certain requirements for those who want to join the subnet, e.g. it is necessary to pay a certain fee in AVAX.

Having released the mainnet, the team started working on enhancing the ecosystem of decentralized applications and decentralized finance. It entailed integrating Avalanche with the most popular projects established on Ethereum such as TrueUSD and SushiSwap. The team also strives to make the ecosystem interoperable with the Ethereum network.

Avalanche DeFi incentive program

In August 2021, Sushiswap joined the 180-million USD DeFi incentive program established by the Avalanche Foundation. The goal of the program labeled as Avalanche Rush is to bring blue-chip decentralized apps to Avalanche. Aave and Curve were the first decentralized protocols that joined the program. It is worth mentioning that these projects can boast of the highest TVL (Total Value Locked) in the DeFi industry. Next, the liquidity mining program was launched in the same period with the goal of scaling the DeFi industry as this is one of the Avalanche Foundation’s commitments. In particular, Avalanche allocated 20 million USD to Aave users and 7 million USD to Curve users for the stage 1 only, pursuing the goals to develop innovative yield-generating strategies in decentralized finance.

The program was launched right after the release of Avalanche Bridge which employs revolutionary cross-chain bridging technology for transferring assets across blockchains. Combined with Avalanche Rush, the bridge becomes a powerful instrument that strengthens Avalanche liquidity incentives and improves user experience by employing DeFi apps based on Avalanche.

Additionally, the platform concluded a partnership with Stake DAO and launched a 3-million USD liquidity mining initiative with the BENQi protocol. In addition, the program attracted other applications native to Avalanche like Avalaunch and Pangolin.

The Avalanche Rush program is a brilliant demonstration of Avalanche's power and benefits of the technology. These advantages only keep increasing thanks to the interesting synergies that appear as a result of the most popular DeFi projects working together. Avalanche has managed to develop an excellent strategy to obtain new, interesting, versatile offerings and as a result, has gained a vibrant and supportive community.

The deployment of SushiSwap affected the price of the native token AVAX making it spiked after the news was announced. Thus, the project boosted investors’ confidence and attracted more funds to the network.

Benefits of deployment on Avalanche

Since Ethereum historically has been plagued with high transaction fees and low speed of the network, blockchain developers started looking for alternatives. Avalanche is one of the platforms that try to take Ethereum down, along with such projects as Solana, Celo, Flow, Cardano, and a few others. Though it is still far from becoming an “Ethereum killer”, the growth of the project is impressive as Avalanche takes a significant share of transactions from Ethereum.

The team behind the project assures that any smart contract-enabled app can outperform in a competition after its deployment on Avalanche. The developers of dApps use the Avalanche consensus to take advantage of its scalability features, enjoy high throughput and almost immediate finality of the blockchain.

The Avalanche Foundation also makes strategic investments in promising projects such as Crabada, a play-to-earn NFT game. Being part of the Avalanche ecosystem, this game evolves along with the thriving Avalanche architecture. Other DeFi projects can join the ecosystem as well to employ its full potential. Avalanche team

The theory behind the Avalanche protocol was first published in 2018 by a pseudonymous organization “Team Rocket”. Later it was iterated and improved by Emin Gun Sirer, a founder and CEO at Ava Labs, into what has now become the Avalanche protocol. Other key figures working for the Avalanche platform include Kevin Sekniqi, COO and Chief Protocol Architect, and Maofan “Ted” Yin, a Chief Protocol Architect at Ava Labs.