Since the previous article on Avalanche in September—”Avalanche Gains Momentum as Blockchains Battle Breaking Out” by Footprint — Avalanche’s TVL has risen from $2.3 billion to $13.9 billion.
Footprint Analytics: Avalanche TVL
1. Sustained ecosystem support
The Avalanche Foundation launched Avalanche Rush on August 18, a $180 million liquidity mining incentive program that drove Avalanche’s first surge. Since then, the project’s incentive mechanism has been ramped up. Benqi, a native lending project, also launched a $3 million liquidity mining incentive program with the Avalanche Foundation, rewarding AVAX and protocol token Qi for users who borrowed on Benqi, which became the highest TVL protocol on the chain in less than a week.
Two months later, the Avalanche Foundation re-launched a $200 million fund (Blizzard), that will be used to incentivize four key areas of the Avalanche ecosystem (DeFi, enterprise applications, NFTs and culture applications), while seek
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