As you know the team has been super focused and working very hard on expanding the Orbs ecosystem with multiple integrations with various projects of different classes.
A very important part of this effort is expanding into additional ecosystems where we see innovation, adoption and engagement taking place.
Anyone who is not living on Mars has probably heard of Avalanche (or AVAX), who is becoming one of the leading ecosystems in our space.
So.. we are very excited to announce that Avalanche will be the next ecosystem for Orbs integration.
Following our work with and on Ethereum, BSC, Polygon and Solana based projects, Avalanche will become the fifth major blockchain infrastructure project to support the Orbs network.
As we pointed out in previous posts, while there is still room for significant innovation in the L-2 space, there is still a lot of growth and action happening in the L-1 space. The Orbs project has always believed in combining the advantages of a variety of different blockchains, and we are happy to see that the future of crypto is one of multiple chains.
As always, Orbs is at the forefront of this unfolding trend in the crypto space and we believe being integrated into all the major chains will play a critical role in the success of the Orbs project and for Orbs to become a major player in the DeFi space.
The Orbs team has already started working on this exciting next step in the Orbs roadmap. Expect more exciting news to come soon!
So why Avalanche? Avalanche is an important project in the L-1 space, boasting high speeds, a large ecosystem and an innovative approach to DeFi.
Since its launch in 2018, Avalanche has managed to rapidly expand its ecosystem, boasting over 140 ecosystem partners and more than 320 projects building on its blockchain. Some of these include major players like SushiSwap, Chainlink, Circle and the Graph. Avalanche has also made a strong mark in the NFT space, including an integration with Topps, a major sports card company, which launched a Major League Baseball card collection and video moments from the German Bundesliga football team as NFTs on Avalanche.
Currently, Avalanche has the sixth highest DeFi TVL of all chains, with over $3.17B locked.
All of this is supported by a highly decentralized network of thousands of nodes, with 4,500 tps and finality in less than 2 seconds. Avalanche employs technical innovations such as using three different blockchains to carry out different functions, compatibility with Solidity and the ability of developers to create their own virtual machines.
Avalanche Foundation recently announced that it raised $230M from a venture capital group, and over the summer launched an impressive $180M grant program. With all of the above, Avalanche is well positioned to be a major player in the DeFi space.
Orbs is excited to integrate with Avalanche and become part of its expanding ecosystem!
Since last year there has been a major expansion of the Orbs ecosystem, with a large focus on integrations with DeFi ecosystems. As Tal Kol, Orbs co-founder, explains in this 2 part video, we believe that DeFi will emerge as the killer app of blockchain technology.
Consequently, the Orbs ecosystem has expanded beyond Ethereum to include integration with three other major chains: Binance Smart Chain, Polygon and Solana, with Avalanche being the fifth major chain. In addition, Orbs has accelerated the integration of the Orbs ecosystem with over 17 major DeFi platforms such as UniSwap, SushiSwap, Balancer, PancakeSwap, AnySwap, Kyber Networks, 1inch, Alpaca Finance, Beefy Finance, QuickSwap, DinoSwap, KogeFarm and more.
With its unique hybrid architecture, the Orbs project is designed for interoperability primarily with EVM (Ethereum Virtual Machine)-compatible blockchains such as Ethereum mainnet, Binance Smart Chain, Polygon and now, Avalanche. The EVM-compatible ecosystem is the most prolific in terms of asset liquidity and user engagement, particularly in the DeFi and NFT fields. Orbs Proof-of-Stake is implemented as a set of EVM contracts and ORBS is an ERC20 token, allowing for seamless integration between EVM chains and the Orbs ecosystem.
We are very excited about untapping the potential of Orbs in the DeFi space. Orbs multi-chain integration plays a critical role in this initiative. Already we are seeing applications of amazing innovative projects being developed on Orbs.
Expect more to come in the near future!