What is Avalanche (AVAX)
Avalanche (AVAX) is a smart contract network for services utilizing blockchain that involves two parties to do business with no intermediary third parties.
It’s majorly used for DeFi, Crypto transfers, and other financial transactions with minimum costs.
Here are the Top 10 Coins on Avalanche
Benqi QI is a decentralized non-custodial liquidity market platform created on Avalanche smart contract network. It has a TVL of $1.29 billion and allows users to borrow, lend, or earn interest with their digital assets.
Benqi aims to become a cross-chain hub that connects Polkadot, Ethereum, and Binance Smart Chain via Avalanche subnets.
The Benqi has a market cap of $59,463,507 and a circulating supply of 325,692,000 QI coins.
Meanwhile, the main exchanges to trade Benqi include KuCoin, TraderJoe, Gate.io, MEXC, and BitMart.
Trader Joe (JOE)
Another top coin on Avalanche is Trader Joe. It’s a one-stop decentralized trading protocol on Avalanche that hosts yield farming, staking, lending, and liquidity provision.
The platform has a TVL of $834.44m. JOE is a governance token of Trader Joe that rewards users an exchange revenue share.
Trader Joe aims to grow its team with a cash injection while developing its lending and trading lending platform.
Pangolin is a popular DEX under the Avalanche ecosystem. It has a TVL of $375.33m, and it utilizes an AMM (automated market maker) to match orders between sellers and buyers.
Currently, the Pangolin price is $2.55, and it has a 24-hour trading volume of $7,007,716. The platform has a circulating supply of about 51 Million PNG coins with a total supply of over 500 Million.
Pangolin provides options for users to gain interest in crypto assets by offering liquidity. Users can find accurate charts for trading pairs in the pangolin ecosystem. It has an easy user interface, and it’s attractive to new investors.
Yield Yak (YAK)
Yield Yak is a simple tool that allows users to earn additional yield from the DeFi farming on the Avalanche network.
It’s a community-driven platform. Yield Yak community suggests fresh strategies, compounds rewards, proposes important configuration updates, and contributes to community development. Yield Yak farms can operate forever without the project’s involvement.
Today’s Yield Yak price is $12,841.77, and it has a 24-hour trading volume of $3,401,810. The network has a TVL of $263.96m and a circulating supply of 0 YAK coins with a total supply of 10 Thousand. Users can sell or buy Yield Yak on the Pangolin exchange.
Snowball is another top coin on Avalanche. It’s a decentralized protocol that offers auto-compounding services for liquidity pools on Pangolin and operates as an AMM for stable assets.
The governance token of the Snowball protocol is called SNOB. And it can be utilized with Snowball Governance to vote on proposals.
Users can have SNOB by offering liquidity on the Snowball protocol and staking the liquidity. Also, users can buy SNOB from diverse exchanges like Pangolin.
The current Snowball price is $1.30, and it has a 24-hour trading volume of $2,089,257. Its circulating supply isn’t available, and it has a TVL of $99,606,768 and a maximum supply of 18,000,000 SNOB coins.
StormSwap is a sustainable decentralized yield farming and aggregator protocol powered by Avalanche. It aims to offer a secure yield farming experience for investors.
StormSwap market cap and circulating supply aren’t yet available, though it has a TVL of $34,586,918.
The platform is a new AMM network with some new features. It aims to migrate vital DeFi protocols to Binance SmartChain while accelerating the migration from legacy ETHER 1.0 to the one designed by blockchain to support the future of finance.
In addition, Liquidity providers receive STORM tokens as an encouragement for offering liquidity on several pools containing great tokens where they’re mostly inaccessible at the legacy chain.
Beefy Finance (BIFI)
Another popular coin on Avalanche is Beefy Finance. It’s a DeFi Yield Optimizer that enables users to earn compound interest on their holdings.
Through some investment strategies executed by smart contracts, the platform maximizes the user rewards automatically from different liquidity pools, AMM projects, and other opportunities in the yield farming DeFi ecosystem.
Beefy Finance native governance token is called $BIFI. Its revenue is generated from a few percentages of all vault profits distributed back to users who stake the $BIFI.
Meanwhile, Beefy Finance has a TVL of $34,319,538 and a circulating supply of about 72 Thousand BIFI coins with a total supply of 80 Thousand.
Cycle Finance (CYCLE)
Cycle Finance is a yield optimizer that allows users to auto-compound rewards from various DEX/projects on the Avalanche C-chain.
The Cycle Finance token will be utilized for governance to offer power to the community concerning the protocol’s evolution and health. The Cycle Finance token receives some revenue generated by people who stake it to reward them.
The platform has a TVL of $16,659,392, and it benefits from the Avalanche quick transaction speeds and low gas fees; thus, it allows easy on-boarding for new users via the ZAP function.
Cycle Finance has a maximum supply of 300,000 CYCLE coins.
Wonderland, with a Total Value Locked of $14,215,559, is the first decentralized reserve currency platform available on Avalanche based on the TIME token. Every one of the TIME tokens is backed by some assets like MIM on the Wonderland treasury. Thus, giving it a value that it can’t fall.
Wonderland has introduced game-theoretic and economic dynamics into the market via bonding and staking.
It aims to create a policy currency system that’s native to the AVAX network. The platform wants TIME to work as the global unit-of-account and a medium to exchange currency.
Today’s Wonderland has a maximum supply of 30,090 TIME coins.
Frost Finance (TUN)
Frost Finance is another top coin on the Avalanche network. It has safe Yield farming on AVAX. The platform has a TVL of $6,843,909.43.
The Market Cap of Frost Finance is $1,174,373, and it has a total mint of 18,500 with a maximum supply of 150000. The new TUNDRA/block is 0.015.
Though there are many popular coins on Avalanche, the above coins are leading in the pack. Avalanche has several reliable DEXs, and the place to get the biggest AVAX ecosystem tokens is on the Pangolin.
It’s vital to add that the main means to store AVAX-based tokens is via Metamask, which is an ERC-20 wallet supporting multi-chain storage.
As stated, the announcement of a $180 million DeFi program and incorporating two blue-chip DeFi protocols; AAVE and Curve have increased Avalanche’s popularity. Now, the platform aims to continue integrating more blue-chip DeFi protocols.
Written by: Narender Charan1