De.Fi: The Best Alternative to Zapper
As an investor in DeFi, keeping track of digital assets across various platforms and blockchains can be a daunting task.
Avalanche is an innovative DeFi platform that uses a novel approach to dispel the myth that blockchains are slow. It is a highly scalable solution that was built with dApp developers in mind, so they can create, launch and develop a variety of decentralized applications.
In this guide, we will look at the innovations that Avalanche offers, provide an overview of its underlying architecture and explain how you can stake in Avalanche to gain returns.
What is the Avalanche network?
High transaction throughput
Consensus
Cross-chain swaps
No expensive hardware
Eco-friendliness & resourcefulness
Supports the Ethereum development toolkit
$AVAX Token
The Avalanche Network Ecosystem
Pangolin, a major Avalanche project
Avalanche now available on De.Fi!
Wallets for Avalanche
How to use Avalanche with Metamask
Staking and Yield Farming on Avalanche
How to stake on Avalanche
Should I use Avalanche for staking and yield farming?
Avalanche is an open-source platform for developing DeFi applications and enterprise blockchain deployments. It’s gained attention during the recent crypto bull run thanks to the following features:
The network is capable of confirming millions of transactions per second, which places it way above most other blockchains. Avalanche is one of the most scalable solutions on the market.
The consensus used by Avalanche is a breakthrough of sorts, as it combines elements of existing mechanisms to create a faster, more scalable and more efficient solution.
Avalanche consensus does not depend on miners (Nakamoto consensus) or on all nodes interacting with one another (classic consensus). Instead, Avalanche uses what can be referred to as a gossip or epidemic protocol to achieve consensus.
This approach works as follows:
This process is completed so quickly that the transaction throughput is unmatched.
One of the most innovative features of Avalanche is the way it enables cross-chain swaps between its native chains (X, P, and C).
The stem network is separated into three separate chains. Each performs its own duties, forming layer 0 and layer 1 solutions, as well as a unique consensus system. Each chain’s duties are as follows:
You do not need any expensive hardware to host a node as an Avalanche validator, so any computer will do.
In order to reduce the amount of energy the network uses, Avalanche nodes only process transactions when they need to, so no resources are wasted.
In order to make it as easy as possible for existing blockchain developers to use Avalanche, it supports the entire Ethereum development toolkit, so developers can easily switch without needing to learn new skills.
AVAX is the native token of Avalanche. It’s a hard-capped, scarce asset that is used to pay for fees, secure the platform through staking, and provide a basic unit of account between the multiple subnets created on Avalanche. 1 nAVAX is equal to 0.000000001 AVAX.
As of 28th of October, $AVAX price is $63.52.
MarketCap — $14,030,596,667.
The Avalanche DeFi ecosystem is rapidly growing and understandably so. The platform allows you to create decentralized applications and custom blockchain networks, using popular languages like Go, rather than just Solidity.
The promise of Avalanche is that you can do anything you can with Ethereum but at higher speed, with greater transaction throughput and with lower fees. Plus, existing dApps built on Ethereum can easily be transported to Avalanche.
Today, the vastness of the Avalanche ecosystem includes applications for private securities, initial litigation offerings, DEXes, synthetics, stablecoins, DeFi, prediction markets and more. Also, major stablecoin projects USDT and USDC have announced native integrations with Avalanche.
Recently, we published an interview with Pangolin, one of the largest projects on Avalanche.
Pangolin is a community-driven decentralized exchange for Avalanche and Ethereum assets with fast settlement, low transaction fees and democratic distribution. Pangolin is powered by Avalanche and helps you to find the best trading and DeFi yield farm maximization opportunities.
In the interview, we discuss the following topics:
Plus a lot more! You can access the De.Fi and Pangolin interview now.
Recently, we also announced the De.Fi integration with Avalanche, so it is now available on our platform!
You can track your balances, assets, deposits and staking on the De.Fi dashboard by clicking on “Dashboard” and choosing Avalanche network.
Alternatively, you can use a customization bar to configure networks, as shown below.
Below, you’ll see all the dApps that are included in the Avalanche ecosystem. You can also view them all by accessing the Avalanche marketplace.
There are a variety of wallet options available for accessing Avalanche, including web, hardware and mobile options.
This is Avalanche’s native web wallet and the natural choice for anyone who wants to store or stake AVAX tokens.
Our platform includes a DeFi wallet tracker and staking dashboard, which allows you to track your balances, assets, deposits and staking on Avalanche, as well as letting you access the unique crypto hack/scam database and audit database.
This hardware wallet is deemed to be one of the most secure available and also allows you to stake your tokens.
This browser and mobile option is one of the most used wallets today and can also be used to store your AVAX tokens.
Click on the “Account” button, as shown in the image below.
Go to “Settings”, at the bottom of the image below.
Click on “Networks”, as highlighted below.
Then, click on “Add Network”, fill in the details shown below and save.
Network Name: Avalanche Network
New RPC URL: https://api.avax.network/ext/bc/C/rpc
ChainID: 43114
Symbol: AVAX
Explorer: https://cchain.explorer.avax.network/
Investors are taking advantage of the opportunities for yield generation on Avalanche, as the image below showing Total Value Locked (TVL) on various DeFi projects demonstrates.
Staking on Avalanche works on the principle of delegating your assets. Firstly, you need to buy your AVAX tokens, which can be done through exchanges like Binance, OKEx, Gate.io, Kucoin and others. Then, you need to create your Avalanche wallet, as explained in the steps below.
Having bought your AVAX tokens, the first step you need to take in order to stake them is to create a new wallet.
Start by visiting the official wallet page and then click ”create new wallet”, as shown in the image below.
Then click the “generate key phrase” shown below. This will generate a mnemonic phrase that you need to save in a safe place. Do not neglect this step, as doing so could result in you losing your assets.
You will then be asked for some parts of the mnemonic phrase in order to access your wallet.
Now you have the wallet and tokens but you need to transfer the tokens into your wallet. To do this, use the address you will see beside your wallet details in the Portfolio tab, as shown below.
To delegate your tokens, click on the “Earn” tab in the menu.
You need to have your funds available on the Platform Chain (P-Chain) if you want to stake.
Therefore, if your funds are on the Exchange Chain (X-Chain), you will need to transfer them to the P-Chain by initiating a cross-chain transfer. If you have only just transferred your tokens, they will definitely land on the X-chain.
Once you have successfully transferred your tokens between chains, you will see the “Transfer Completed” message in the image below and will be able to start delegating.
To delegate, find the “Delegate” section shown below and click on the “add delegator” button to pick the node you would like to delegate your tokens to.
Choose a delegator based on the end time, uptime and fee metrics that suit you.
Once you have decided on a delegator, click “Select” to choose the appropriate Node ID.
Then, enter the end date of your stake, your staking amount, and decide whether you want to receive your staking rewards to your current wallet or any other wallet, as shown below.
When you are ready, click “Confirm”.
On our Youtube channel you can find a complete beginner guide to Avalanche.
Staking on Avalanche is one of the safest across the industry due to the fact that there is no slashing mechanism involved.
This means your tokens will not be destroyed if the node you delegate to goes offline. All you’re ever risking is the staking reward, so your initial tokens are guaranteed to be safe. The APY is currently around 10%, so this looks like a great opportunity for those looking to gain returns from their AVAX holdings.
Based on this research, we suggest that Avalanche is a great project. Here you can check yield farming opportunities on Avalanche: https://de.fi/explore/network/avalanche
However this is not investment advice and you should always do your own research before investing.
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As an investor in DeFi, keeping track of digital assets across various platforms and blockchains can be a daunting task.
As the crypto bull market heats up, more investors seek to navigate the burgeoning world of decentralized finance (DeFi).
When engaging with decentralized finance (DeFi), investors often face the challenge of managing investments, tracking yields, and ensuring they keep all their assets safe.
January 2024 was an incredibly important month for us. We achieved significant results and made remarkable progress.
With new crypto ecosystems popping up on a regular basis, the integration of different blockchain networks with popular wallets is a key narrative moving into the next crypto cycle.
This month, we are proud to announce that De.Fi has secured investments from the first BTC ETF provider. We're seeing a huge spike in mentions and social interest in De.Fi and $DEFI token right before the listing.
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