The long-awaited launch of Avalanche Rush incentives is due to start next week, according to a cryptic Twitter post from Avalanche.
It’s anticipated that Avalanche Rush incentives will bring greater growth to the TVL and yields available to DeFi users. A number of leading DeFi platforms have also been allocated incentives alongside Aave and Curve, including SushiSwap, BENQI, YieldYak and Pangolin.
— Avalanche 🔺 (@avalancheavax) September 23, 2021
Its native token – AVAX – has seen a price increase of 147.64% since the August 18 announcement and the Total Value Locked (TVL) across the burgeoning Avalanche DeFi ecosystem has grown from $320m to a high of $3.2b in the same period.
The price of AVAX also reached an all-time high of $79.52 on September 23.
DeFi the major catalyst
DeFi has been the leading contributor to the exponential growth of Avalanche, with platforms such as Trader Joe attracting a new wave of DeFi users to the blockchain through high-yields, low transaction fees and sub-second transactions.
Avalanche CEO Emin Gün Sirer said recently that it has the lowest transaction fees in the Layer-1 space and sub-second ‘time-to-finality’ on transactions, which measures the amount of time a user waits to receive confirmation that a transaction cannot be changed or cancelled.
Additionally, Avalanche has greatly improved its network capabilities through the launch of Snowman++ – an upgrade that has since reduced transaction fees even further.
🚨 Attention #Avalanche Validators 🚨
Apricot Phase Four is here! If you haven't yet please upgrade to AvalancheGo v1.6.0, less than 3 hours until activation, don't wait until after.
⏰ Activation goes live @ 5p EDT / 9p UTC https://t.co/6qs0aMK7VX
— Avalanche 🔺 (@avalancheavax) September 22, 2021
Aave CEO Stani Kulechov also teased the use of AVAX as collateral on market-leading DeFi protocol Aave, saying that it’s “up to the community vote”. The Aave community recently voted a resounding 99.7% yes to a YES/NO proposal on whether Aave should deploy on Avalanche.
Up to the community vote – would imagine thats what the community wants
— stani.eth (👻,🐻❄️) 👘 (@StaniKulechov) September 24, 2021
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