Table of Contents

Intro

1. Status of the Subnet Ecosystem (feat. Xangle Analytics)

1-1. Rapid Growth in the Number of Subnets

1-2. DFK Maintains its Status as the Most Active Subnet

2. Time to Renew Focus on Subnet Ecosystem Growth

2-1. Avalanche Subnet: A New Option for Global Web2 Companies

2-2. Standout Subnets: GREE, SK Planet (UPTN), and Gunzilla Games (gunzilla)

2-3. Anticipating Major Subnet Adoption Announcements in 2H 2023

3. Subnet Expansion Strategy and Future Outlook

3-1. Customized Evergreen Subnet: Catering to Enterprise Needs

3-2. Accelerating Subnet Deployments, but Early Stage for Rapid Service Onboarding

3-3. Leveraging Web2 Enterprise References as a Competitive Advantage

4. Subnet Ecosystem Growth and its Impact on Avalanche Stakeholders

4-1. Enabling Long-Term Value for $AVAX

4-2. Avalanche Network Security Improves as the Cost of Attack Increases

Closing

 

 

Intro

"Visualizing the Vision of Avalanche - 1," we delved into the competitive advantages of Avalanche, specifically its blockchain design architecture, and determined that Avalanche possesses the necessary technical foundation to fulfill its vision. Building upon this strong technical advantage, the next step is to expand the subnet ecosystem. In this article, we will provide an overview of the current state of the Avalanche ecosystem, with a particular emphasis on on-chain data. Additionally, we will explore Avalanche’s subnet expansion strategy while providing insights into the upcoming subnets that are set to contribute to Avalanche’s continued development. 

 

1. Status of the Subnet Ecosystem (feat. Xangle Analytics)

1-1. Rapid Growth in the Number of Subnets

Since the introduction of Multiverse in March 2022, there has been a significant surge in subnet creation, with a total of 58 subnets being created as of May 10. This remarkable growth can be attributed to the implementation of the $290M incentive program aimed at fostering subnet expansion and advancement.

Specifically, among the 58 subnets, 23 (40%) are currently operational with at least one validator, while the remaining 35 (60%) have ceased operations. Out of the 11 subnets for which on-chain data is available, 6 (10%) exhibit substantial levels of transactions and active addresses. These notable subnets include DFK (DeFi Kingdoms), StepNetwork, WrapTag, Dexalot, XANA, and XPLUS (excluding Swimmer Network, which recently announced plans to discontinue operations).

Among the various subnets in the Avalanche ecosystem, DFK has emerged as the clear leader in terms of transaction volume and active addresses. It has consistently maintained its position at the top, followed closely by StepNetwork, WrapTag, and XPLUS, which also exhibit significant transactional activity and user engagement. In the subsequent sections, we will delve into a comprehensive analysis of individual subnet metrics, providing a more in-depth understanding of their respective performance.