Avalanche Activity & TVL RunsAug 24, 2021
Avalanche Foundation’s $180m liquidity mining program announcement brought Aave and Curve into the ecosystem. Opportunistic apes and fork developers attempting to get in early on this news propelled Avalanche DeFi TVL and AVAX token prices.
While it’s obvious that Avalanche is taking a page out of Polygon’s playbook (ie. incentivize blue-chip DeFi protocols, pump base token, reinvest token into ecosystem), it remains to be seen if Avalanche can emulate Polygon’s success – but the rush of mercenary capital flowing into the ecosystem is obvious.
Since August 1st, TVL exploded from $163M up to $1.5B, which translates to 823% growth in less than a month.