Avalanche’s consensus protocol, called Avalanche-X, is designed to enable parallel processing of transactions. In contrast to Ethereum, this enables a substantially higher transaction processing rate because numerous transactions can be validated simultaneously.

As a result, Avalanche can handle up to 4,500 transactions per second while Ethereum can only process about 15 transactions per second at the moment.

Hence, Avalanche makes a solid blockchain to build dApps. Currently, there are close to 300 decentralized applications running on the Avalanche Network. Let’s explore the best dApps on Avalanche in this blog!

Trader Joe

Joe V2 is a decentralized exchange that uses the Liquidity Book AMM protocol and offers improved features such as zero slippage, dynamic fees, and fungible liquidity positions with variable pricing. It also discretizes price ranges into bins and uses constant sum invariant for bins with flexible tick sizes. Liquidity is vertically aggregated and can be distributed in any shape desired.

Benqi

BENQI is a DeFi protocol on Avalanche that offers BENQI Liquidity Market (BLM) and BENQI Liquid Staking (BLS). BLM allows for effortless lending, borrowing, and interest-earning, with a permissionless and transparent market. Users can instantly supply, withdraw, and borrow with over-collateralization and view interest rates 24/7.

GMX

GMX is a decentralized exchange with low swap fees and zero price impact trades, supported by a multi-asset pool. Chainlink Oracles and leading volume exchanges provide dynamic pricing. Liquidity providers earn fees from market making, swap fees, and leverage trading.

Pangolin Exchange

Pangolin is a multi-chain DEX that offers easy swaps, advanced tooling, and deep liquidity for projects and traders. Since its launch in February 2021 on Avalanche Network, it has facilitated over $15 billion in trading volume. Pangolin is expanding to other networks like Hedera Network, Flare Network, EVMOS, Near Protocol, and more.

Deesse

Deesse is a blockchain-enabled idle RPG/CPG with progress and skill-based features, incorporating Play-to-Earn mechanics for players to earn tokens and NFTs. Set in a fictional world where civilization has fallen and the Goddesses have disappeared, players must travel with maidens to restore humanity by conquering monsters and clearing evil to transform maidens into Goddesses.

ParaSwap

ParaSwap aims to provide the best market prices by aggregating multiple decentralized exchanges, market makers, and lending protocols. The ParaSwap API fetches optimal prices for users to swap tokens and generates transaction data for on-chain execution. Currently, ParaSwap only supports EVM-based networks and ERC20 tokens.

Snail Trail

Snail Trail is a game built on the Avalanche blockchain that allows players to breed, trade, and race digital snails called Snailies. Players can purchase Snailies through the game’s marketplace or breed them by combining two existing Snailies. Each Snailie has unique traits and attributes, such as speed and stamina, that can affect their performance in races.

Players can enter their Snailies into races and compete against other players’ Snailies. The winner of the race receives a prize, which is paid out in the game’s native token, called SNAIL. Players can also earn SNAIL by breeding and selling Snailies on the marketplace.

Vector Finance

The protocol Vector Finance integrates with Platypus Finance and Trader Joe to allow users to generate boosted yields on their stablecoins or JOE LP deposits, even without owning any PTP or JOE. By aggregating PTP and JOE from users who choose to convert their tokens on the Vector platform, the protocol unlocks utility for the PTP and JOE tokens, providing users with a portion of the generated yield. This enhances capital efficiency and diversifies the user base for Platypus and Trader Joe’s.

Alpha Homora

Homora V2, a product within Alpha Venture DAO’s Build ecosystem, addresses the unaddressed demand in the DeFi sector. It aims to tackle three market gaps by offering high lending interest rates through higher borrowing activities from leverage yield farming for hodlers, providing a simple and convenient way to take leverage on yield farming/liquidity providing positions to earn higher yield for those searching for high yield farming/liquidity providing APY, and acting as a bridge between users and builders to create more yield farming opportunities for projects that wish to bootstrap liquidity in their pools on selected AMM protocols. Homora V2 expands on new networks to support lending on various assets and integrate with more AMM protocols.

Colony Lab

Colony, powered by Colony’s CLY token, is a community-driven accelerator for the Avalanche ecosystem. It provides early-stage funding to Avalanche-built projects, liquidity to existing Avalanche DeFi protocols, and purchases and stakes AVAX and upcoming subnet tokens. CLY token holders receive full governance, staking rewards, liquidity provider rewards, and tokens via airdrop of early-stage Colony funded projects. Colony aims to bring the structural integrity of traditional finance to DeFi by constructing a properly incentivized foundation for the next generation of applications built on the Avalanche platform. It uses a highly regulated fund structure and will act as an accelerator of the Avalanche ecosystem by capitalizing early-stage projects and beyond, contributing to Avalanche protocols, and maintaining an index dedicated to projects built on Avalanche.

Arable Protocol

Arable is a decentralized synthetic farming protocol that brings multiple chains’ assets and yield farms on a single chain. Users can farm Cosmos, Polkadot, Solana ecosystem, Polygon, AVAX, and all the other chains’ assets on the Avalanche network with Arable without the need to cross the bridge for higher APY yield farms. The collateral providers, also known as minters, are counterparties of the farming and swap operations. The protocol aims to provide an optimized on-chain UX for yield farmers.

Nereus

Nereus is a decentralized, non-custodial liquidity market protocol that allows users to participate as depositors or borrowers. Depositors can earn a passive income by providing liquidity to the market, while borrowers can borrow in an over-collateralized or under-collateralized fashion. Nereus offers dynamic and fixed interest rates with lower collateral requirements and focuses on use cases beyond trading and price speculation. Wirex, a crypto-friendly ecosystem, has invested in Nereus in the form of its native token, WXT. The investment is structured as a grant to fund the protocol’s development and support its initial launch, with minimal direct involvement from the platform.

Kalao

Kalao is an NFT ecosystem on Avalanche that offers a range of products and experiences at the intersection of NFTs, VR, and the Metaverse. Its marketplace provides a seamless e-commerce experience for buying, minting, and selling NFTs, including certified collections for guaranteed authenticity. The V2 of the marketplace offers advanced analytics, an add-to-cart feature, quicker checkout, credit card integration, and new features to improve liquidity.

Imperium Empires

Imperium Empires is a space-themed MMORTS game available on Avalanche. Players can control spaceship NFTs to explore the Imperium Metaverse, which comprises multiple zones and zectors. The game offers both PvE and PvP content, including mining, co-op missions, territorial control, and spaceship combats. The game’s inspiration comes from the first program to land on the moon, and it takes players on an adventure to discover new galaxies, conquer planets, and mine valuable resources. The web game is named Apollo.

SteakHut Finance

SteakHut Finance is a yield and liquidity aggregator in the Web 3 space. The platform offers a variety of tools for individuals and protocols to maximize DeFi potential. The native onmichain token, $STEAK, generates revenue rewards and voting power from veJOE for token holders. SteakHut’s decentralized market-making platform provides liquidity provisions, including passive and actively managed strategies, to enable deep liquidity on the Trader Joe DEX V2. Managing concentrated liquidity on Trader Joe’s Liquidity Book is made easy with SteakHut Liquidity.

Lydia Finance

Lydia Finance operates as a decentralized exchange (DEX) on Avalanche, enabling users to exchange two tokens via an automated market maker (AMM). The platform allows users to earn LYD tokens via farming, staking, and Electrum pools. By offering a more secure alternative to centralized exchanges, where users can swap multiple cryptocurrencies while retaining custody of their funds, Lydia aims to incentivize users to provide liquidity to the DEX through staking LP tokens and receiving LYD as a reward. This approach enhances decentralization and provides utility to the LYD token.

MetaDerby

MetaDerby is a horse racing and breeding-inspired metaverse that aims to revive the long-standing bond between humans and horses. By leveraging the history of horse racing and breeding, MetaDerby allows users to receive token rewards through skilled gameplay and contributions to building the MetaDerby-verse. In recent times, the popularity of horse racing and the art of horse breeding has dwindled, but with MetaDerby, anyone can participate and experience the excitement of this ancient sport.

XY Finance

The XY Finance Ecosystem consists of X Swap and Y Pool, which are Web3, DeFi, and GameFi products. The ecosystem’s heart is the XY Token ($XY), which is used by XY DAO and incentivizes liquidity providers to stack yields. The platform aims to solve the liquidity problem by ensuring users benefit from the best routes, and $XY gains utility through inventive ways and partnerships. As a cross-chain interoperability protocol that aggregates DEXs and bridges, XY Finance helps route assets at the best rate and speed while maintaining security.

Yeti Finance

Yeti Finance is a lending protocol on Avalanche that enables users to borrow up to 21x against their portfolio of LP tokens, staked assets, and yield-bearing stablecoins. The platform automatically compounds farming and staking rewards when users deposit interest-bearing tokens. Borrowers receive YUSD, an overcollateralized stablecoin that can be exchanged for additional assets and used to build a leverage position.

Penguin Finance

Penguin Finance is focused on building a comprehensive DeFi ecosystem with a variety of applications and products that cater to both experienced and novice users. The platform is designed to offer ultra-low fees and an intuitive user experience to make it easy for anyone to participate in decentralized finance. Penguin Igloos, Penguin Nests, Prediction Markets, the Penguin Arena, CryptoPenguins, and gambling/high-stakes dApps are some of the features that will be available to users within the Penguin Finance ecosystem. The platform is also committed to providing in-depth documentation and tutorials to help users get started with cryptocurrency and DeFi. Overall, Penguin Finance is aiming to bridge the gap between DeFi and mass adoption by making it accessible and user-friendly for everyone.

Baymax

Baymax Finance is a decentralized and non-custodial DEX operating on the Avalanche blockchain. It offers spot trading with swaps and limit orders, perpetual futures trading with up to 50x leverage, and liquidity provision with a hedged token against market volatility while sharing 60% of platform revenue. It generates huge revenue for its protocol, which is distributed in the form of $AVAX to token holders, and provides capital efficiency with optimal trading volume. BLP is an attractive token for liquidity providers as it tracks the value of the largest cryptocurrencies and gains value from trading fees, with nearly zero risk.

HunnySwap

HunnySwap is a decentralized exchange on Avalanche that aims to be the most innovative with diverse utilities. It offers a gamified farming playground for users to enjoy high yields and exciting games. HunnySwap users can share swapping profits and engage in trading, staking, farming, earning, playing, voting, and having fun with XOXO tokenomics. It is the first Avalanche DeFi + Casino + NFT platform audited by Certik, offering a one-stop DeFi protocol to leverage funds.

Gunfire AVAX

Gunfire AVAX is a combat shooter game that features automated firing mechanics, allowing players to focus solely on managing their character’s movement. In the game, players take on the role of a hero armed with a powerful gun and fight against dangerous enemies while collecting in-game goods, earning tokens, and improving their hero and equipment. Participation in the game requires $AVAX tokens, and players receive $AVAX tokens as rewards for achieving a high rank on the Leaderboard.

Toasted AVAX

Toasted AVAX is a unique take on Token Miner, offering a smart contract AVAX reward pool that returns 5%* of your AVAX every day as long as there is still AVAX locked in the contract. Users can choose to take their rewards or compound them by re-toasting their AVAX. It’s a fun way to earn AVAX rewards and enjoy the process.

Hatchy Pocket

Hatchy Pocket is a virtual world game where players can collect, hatch, and raise adorable creatures called Hatchies. Players start by collecting eggs and then incubating them to hatch their own Hatchies. Each Hatchie has its own unique traits and personalities, making them one-of-a-kind. Players can then raise their Hatchies by feeding, playing with, and taking care of them.

In addition to gameplay, Hatchy Pocket also has its own cryptocurrency, called $HATCHY. Players can earn $HATCHY by participating in the game, and use it to purchase items, trade with other players, or even stake it to earn more $HATCHY through the game’s DeFi features.

Avax Miner

AVAX Miner is a project on the Avalanche blockchain that offers users the opportunity to hire miners who work indefinitely to generate an unlimited amount of AVAX at a starting rate of 3% daily. Unlike farms, miners cannot be bought or sold, they are hired. Users can choose to strictly compound their earnings or pocket their AVAX, or a healthy combination of both. The AVAX Miner contract is public, verified and can be found on AvaxScan. The project is geared towards long term profits and sustainability, rather than instant profits that may ultimately result in losses for users. The algorithm ensures that all participants receive their fair share of rewards and also rewards the most supportive participants through its compounding option.

CIAN

CIAN is a powerful platform that provides a simple and efficient way to automate blockchain tasks. With its extensive automation tools, users can easily compose and automate their DeFi tasks without the need for complex and time-consuming manual operations.

CIAN’s open automation platform is designed to redefine the way DeFi tasks are performed. Users can create a task definition with just a few clicks, eliminating the need for manual operations and saving up to 80% of their time. By automating these tasks, users can increase their capital utilization by up to 60%.

CIAN offers a wide range of smart contracts that users can use to automate their blockchain tasks. These smart contracts are designed to streamline the process of executing complex DeFi operations, such as token swaps, liquidity provision, and yield farming.

Yeti Swap

YetiSwap is a decentralized exchange (DEX) on Avalanche, utilizing the automated market-making (AMM) model of Uniswap, with a native governance token called YTS that is community-distributed. It offers fast and cheap trades and a fair and open token distribution, enabling users to swap assets with sub-second transaction finality and low transaction fees. The YTS token’s distribution mechanism and governance rules are discussed in detail. Users of existing AMMs, such as Pangolin, Uniswap, and Sushiswap, will find YetiSwap’s mechanism of action familiar.