Today we’re excited to announce we’re launching on Avalanche to support the growing community of DAOs and projects on the chain.
Avalanche has been a leader in alternative chains since its launch in late 2020. It has a vibrant community of projects and supporters; who are not only crypto native but also institutional. The benefits of increased speed, efficiency, and innovative subnets make it an attractive option for web3 teams and companies making the transition from web2 to web3.
And Utopia is excited to support amazing DAOs and crypto-enabled organizations no matter where they live!
What is Avalanche:
Avalanche is a blockchain that combines scaling capabilities and quick confirmation times through its Avalanche Consensus Protocol. While being, its own blockchain Avalanche is also EVM compatible meaning applications built solidity smart contracts can still be deployed on Avalanche as well.
Avalanche is also known for its innovative subnet technology; Avalanche is made of 3 main blockchains
C-Chain:
is the chain that handles most of the volume including DeFi and NFTs.
X-Chain:
is used for the minting, distribution, receiving, and swapping of digital assets
P-Chain:
lets users stake $AVAX as validators and also create subnets.
Inspired by sharding, subnets are the preferred scaling solution for Avalanche. Subnets, or subnetworks, allow projects to stake $AVAX to create their L1 or L2 blockchains. These blockchains are then secured by a dynamic set of validators, working together to achieve a consensus.
This innovation allows for projects to have all the benefits of blockchain combined with the scalability needed for many projects to create L1 ones or L2s specifically for their needs.
Communities we’re excited about on Avalanche:
Avalanche is home to many amazing DAOs and crypto projects; two of the amazing communities that inspired us to launch on Avalanche are Pangolin DAO and Craba DAO
Pangolin is community-driven decentralized exchange for Avalanche and Ethereum assets with fast settlement, low transaction fees, and a democratic distribution–powered by Avalanche.
Why Pangolin chose Avalanche:
“I love Avax because of its groundbreaking consensus. With the advent of subnets we are now witnessing the birth of a new economic landscape that will allow the next innovations in the progression of web3 technology” - Justin from Pangolin
CrabaDAO is a GameFi/DeFi collective formed around the undersea world of fighting hermit-crabs, Crabada. The main focus of the group is to offer players more accessibility into Crabada while providing gameplay services that will maximize returns, grow the game’s community, and support the ecosystem and tokenomics of the game.
Why Craba chose Avalanche:
“We love AVAX because the community is great and because the growing network maintains cheap and fast gas fees allowing great projects including P2E”
What Craba excites about the DAO community on Craba:
“With the lower gas fees, AVAX brings much lower barrier to entries for DAOs. The gas fees in other networks can often make it not worth it to even join lower cost DAOs. You often see prices of DAO memberships starting at $1,000 outside of AVAX.
In this ecosystem, gas is so minimal it is almost no concern for even the lowest priced NFTs or transactions we chose AVAX because we can offer our membership at under $200 USD without the transaction gas costing $75 or more in some occasions”
New chain same Utopia ⛩
Using multichain on Utopia is the same experience as eth-mainnet with no lessened functionality!!! Any DAO with a Gnosis Safe can use our full suite of features!
- Avalanche DAOs can create recurring and 1-time payments on Utopia and pay them out in less than 2 clicks. These two clicks create a transaction through their Gnosis SAFE paying the team’s recurring compensation.
- Once the transaction is created, DAO multi-sig holders sign and execute the payment on Utopia without any gas! Our signing page lets multi-sig holders get a clearer picture of their Gnosis transactions and avoid paying gas individually.
- To avoid back-and-forth messages, a Utopia payment request link can be shared with the community. Individuals expecting payment can submit how much they should be paid along with information on the context of the payment.
- DAOs can track and download their payment history - giving them a detailed breakdown of the DAO’s expenses.
- In may, Utopia will have a bookkeeping feature that will allow Avalanche DAOs to categorize and get analytics on all their DAO’s transactions.
Looking to join Craba and Pangolin in freeing your team from operational overhead? Book a demo below
You can access Utopia on Avalanche here:
Learn more about Utopia at utopialabs.com
Sources and additional reading: