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WHAT IS AVALANCHE?
"The trichaine"
We will see on this page how to use the Avalanche blockchain and its DeFi part.
It is important to understand the difference between investing on a centralized exchange platform (CEX), and direct investing on a blockchain.
Presentation of the Avalanche token (Avax)
Présentation d'Avalanche
Avalanche is a level 1 blockchain that functions as a platform for decentralized applications and custom blockchain networks. It is one of Ethereum's main rivals. Indeed, Avalanche aims to match Ethereum as the most popular blockchain for smart contracts, notably by having a higher transaction yield, of up to 6500 transactions per second, without compromising scalability.
Avalanche was started by Ava Labs which was founded by Emin Gün Sirer, Kevin Sekniqi and Maofan "Ted" Yin, PhDs in computer science at Cornell University. Gün Sirer is a veteran of cryptographic research. He also designed a conceptual peer-to-peer virtual currency six years before the publication of the white paper on bitcoin. He has also participated in work on scaling solutions for bitcoin. From this research was born the white paper that led to the founding of Ava Labs in 2018.
The Avalanche network consists of three individual blockchains: the X-Chain, the C-Chain and the P-Chain. Each chain has a separate purpose, which is radically different from the approach Bitcoin and Ethereum take, which is that all nodes validate all transactions. Avalanche blockchains even use different consensus mechanisms depending on their use cases.
After launching its mainnet in 2020, Avalanche worked on developing its own ecosystem of DApps and DeFi. Various Ethereum-based projects, such as SushiSwap and TrueUSD, have been integrated into Avalanche. In addition, the platform is constantly working to improve the interoperability between its own ecosystem and Ethereum, such as through the development of bridges.
The point of the project is that Avalanche attempts to resolve the blockchain trilemma, which postulates that blockchains cannot achieve a sufficient degree of decentralization at scale. This results in high gas charges, as is often the case with Ethereum.
Since the start of 2021, the AVAX token has grown by more than 1600%. And the Avalanche project has a bright future ahead of it. Several observers such as WalletInvestor or TradingBeasts predict that the token could reach $ 70 to $ 100 at the end of 2022, because, let us remember, Avalanche is heavily involved in the problem of blockchain interoperability.
The fees are minimal, a transaction costs less than $ 30ct in Gas.
1) The Wallet
1) Le Wallet
How to access the services of the Avalanche blockchain?
Using a 3.0 wallet with Avalanche
Before you can use Binance's smart blockchain, you will need to own a web 3.0 wallet. You can use a wallet like MetaMask or Trust Wallet.
MetaMask allows you to store tokens on blockchains.
Or
If handling seems complicated to you, you can invest
on AVAX more easily from Binance or FTX.
2) Le Dépôt
2) The Deposit
How to deposit funds on Avax?
Dépôt CEX
Deposit from a Centralized Exchange (CEX)
On centralized exchanges like Binance or FTX, the button to move funds to another network address is often indicated by "Withdraw" or Withdraw ".
Once this button is found, click and double-check the information for the future withdrawal. If the information is correct, validate the transaction and in a few minutes the funds will be in your 3.0 wallet.
⚠️Be careful, however, any address error could result in the loss of funds.
⚠️Some exchanges charge high fees when withdrawing and exiting assets from your account to an external wallet.
The operations performed below are on the Blockchain. You will need to have
governance token, to use it as Gas and carry out transactions.
Bridge CrossChain
Bridging funds from another blockchain to Avax
What is a Bridge Crosschain?
The Bridge allows funds to be transferred from one Blockchain to another. For example if you have USDC on Ethereum , you can send your funds in USDC to Avalanche. This operation will waste you a few tens of seconds.
xpollinate.io is a crosschain bridge that will allow you to transfer funds to Avalanche from any other blockchain.
3) Le DEX
3) The DEX
The biggest decentralized exchanges in Avalanche
Swap from a Decentralized Exchange (DEX)
Sooner or later you will have to use a cryptocurrency swap service, it will be the best alternative to transfer your funds to another currency, with no transaction fees. The biggest swap service on the Avalanche blockchain is Pangolin.
This is an AMM, a protocol that allows users to deposit crypto into liquidity pools and get paid for it.
Pangolin
Avalanche's Automated Market Maker, with Swap and liquidity pool.
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