Icebreaker Program: Phase One Update

The Avalanche Foundation is excited to share the progress made so far in the Icebreaker Program, a key initiative to address the cold start problem for new Avalanche ecosystem protocols, enhance their robustness, and improve on-chain utility and efficiency.

Phase 1 Progress

The first phase of the Icebreaker Program emphasizes the critical role of liquid staking tokens (LSTs) in the ecosystem. LSTs are vital as they can be used for multiple purposes, including as collateral for lending, while the underlying tokens continue to receive staking rewards. Thus, LSTs bolster the entire Avalanche ecosystem with added flexibility while retaining overall network security. 

During Phase 1, the program has focused on LSTs such as sAVAX, ggAVAX, and ankrAVAX, with more than 400K AVAX deployed. This initiative has supported a variety of protocols built on Avalanche, including liquid staking, DeFi, and related smart contracts. We will closely monitor the dynamics of LST and the protocols that benefit from their tokens and resume Phase 1 if and when appropriate.

Future Phases

Following Phase 1, the next phase of Icebreaker is intended to increase in size and go beyond LSTs, targeting a broader range of protocols and DeFi markets to continue enhancing the vibrancy of the Avalanche ecosystem. The Foundation remains committed to continuous monitoring and assessment of its initiatives and its support in order to ensure the ecosystem’s success, growth, and efficiency. 

The Icebreaker Program is a testament to the Avalanche Foundation’s dedication to fostering innovation, supporting sustainable growth, and actively contributing to the Avalanche community. We remain committed to the success of the Icebreaker program and will continue to provide updates as it progresses, maintaining transparent and ongoing engagement with ecosystem stakeholders.

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Provided for informational purposes only, without representation, warranty, or guarantee of any kind. None of this is as an endorsement by the Avalanche Foundation Limited or any of its subsidiaries or affiliates, nor is any of this investment or financial advice. Please review this Notice and conduct your own research to properly evaluate the risks and benefits of any project.

About Avalanche

Avalanche is a smart contracts platform that scales infinitely and regularly finalizes transactions in less than one second. Its novel consensus protocol, Subnet infrastructure, and HyperSDK toolkit enable Web3 developers to easily launch powerful, custom blockchain solutions. Build anything you want, any way you want, on the eco-friendly blockchain designed for Web3 devs.

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About the Avalanche Foundation

The Avalanche Foundation is a non-profit entity that fosters the advancement and growth of the Avalanche platform for the world. The Foundation offers development programs for developers, entrepreneurs, and users to help turbocharge the advancement of the Avalanche ecosystem.

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