Avalanche Rush – The $180m De-Fi Pump

  • $180M in incentives for blue-chip De-Fi starting with Aave and Curve.
  • AVAX price up 2.5x. BENQi finance’s QI token up 6x.
  • Expect high volatility! Especially when trading QI.
  • Avalanche surfing is risky, but exhilarating.

Investment Idea

The Avalanche Foundation announced “Avalanche Rush” on 18 August. Rush is a $180m liquidity mining incentive program” that will onboard the cream of the De-Fi crop to Avax.network. Starting with Curve and Aave as well as native liquidity mining initiative BENQi.

The program is set to run for months and it literally just started. It’s complemented by the Avalanche Bridge, where users can move coins like Ethereum to Avalanche and back. Rush and Bridge in tandem provide a great user experience when using De-Fi on Avalanche. The network has a unique consensus algorithm, with near-instant finality and very low fees.

AVAX price rose 2.5x after Rush started to roll out. QI, BENQIs native token is up 6x! If you want to participate, you can:

  • Buy AVAX, Avalanche’s native token
  • Provide liquidity pairs on Aave, BENQi or Curve to receive AVAX
  • Buy BENQi’s native QI token

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Potential

Avalanche could be the best cryptocurrency that no one has heard of... yet! The network has what it takes: 10k+ transactions per second with fees in the cents, a Proof-of-Stake (PoS) chain, and the ability to bridge multiple blockchains on its native ledger. Current market cap is $8.2bn.

Last month saw the advent of Avalanche Bridge and Avalanche Rush to turbo-charge the token’s use on top De-Fi platforms. TVL on Avax already was $240m on August, 10th Up 35% from a month ago.

AVAX jumped 2.5x in just the first week. More upside can be expected here. Buying Avalanche native swap BENQi’s QI token before the Rush launch would have netted a 600% return. And the price is still rising. As liquidity incentive, Aave and Curve offer exposure to AVAX on De-Fi mainstays.

Risk

Avalanche is a relatively young crypto asset. The token launched in June 2020 with a very successful crowdsale. Meanwhile its price reached $40 and $10. Expect volatility here.

Accepting AVAX as liquidity incentives is a much more straightforward play. But liquidity rewards on stablecoins and top 5 cryptos are trending below 10% APY currently.

Staking on BENQi and buying their token has lambo-potential upside. But, there’s a but! The lending platform is very young. BENQi has garnered more than $1bn TVL in record time, and is at more than $1.6bn now. But the exchange is still rather new, and correspondingly untested.

Conclusion
Avalanche is a red hot star in the crypto market. Disregard at your own peril. Safest bets are liquidity incentives on Curve and Aave. Investors with more “ice in their stomach” can buy BENQi’s QI token and stake on the platform. Happy hunting!

Nothing in this article constitutes professional and/or financial advice. The content is provided exclusively for informational and/or educational purposes. Nothing is to be construed as an offer or a recommendation to buy or sell any type of asset. Seek independent professional advice in regards to financial, tax, legal and other matters.

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