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xAVAX is our new synthetic asset

December 29, 2021

xAVAX is now available

GM! πŸ‘‹

The last community voting in 2021 is behind us.
This time, xAVAX won with a large majority of votes πŸ†

voting 170 people took part in the vote, thank you all for participating ☺️

What are synthetic assets?
Synthetic assets closely track the price of specific assets assigned to them e.g. xBTC will have the same price as BTC on centralized exchanges. Synthetic assets have a form of the SPL-Token and can be freely transferred between wallets or used in other DeFi applications. Prices of all synthetic assets are provided by decentralized oracles built on top of the Solana blockchain ⚑

What is Avalanche and AVAX?
Avalanche:
Avalanche is an open, programmable smart contracts platform for decentralized applications.

AVAX:
is the native token of the Avalanche platform and is used to secure the network through staking, pay for fees, and provide a basic unit of account between the multiple subnetworks created on the Avalanche platform.

If you would like to know more about this project, check out their website and Twitter.

By the way.
Happy New Year! πŸ₯³


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