Introduction

What is Avalanche?

Avalanche is a decentralized, open-source proof of stake blockchain with smart contract functionality. AVAX is the native cryptocurrency of the platform. Avalanche is a blockchain that promises to combine scaling capabilities and quick confirmation times through its Avalanche Consensus Protocol. It can process 4,500 TPS (transactions per second). Avalance supports subnets, subnetwork, is a dynamic set of validators working together to achieve consensus on the state of a set of blockchains. Each blockchain is validated by exactly one subnet. A subnet can validate many blockchains.

What is a Smartcontract?

Smart contracts are simply programs stored on a blockchain that run when predetermined conditions are met. They typically are used to automate the execution of an agreement so that all participants can be immediately certain of the outcome, without any intermediary's involvement or time loss.

Methodology

We are looking to see what smart contracts/types of smart contracts people are using on Avalanche. to figure this out we are going to look at the number of users and interactions on Avalanche's top smart contracts so see what the ecosystem looks like. We will collect the following metrics:

• Daily Smart-contract users/interactions

• Daily Smart-contract users by type

• Top 15 smart contracts by users and interactions

• Daily interactions on top 10 Smart contracts

Avalanche Smart Contract Metrics

Observations

Currently there are between 147,000 and 205,000 smart contract interactions on Avalanche and between 38,000 and 43,000 execute these transactions each day. Out of these transactions the largest group is token transfers that make up between 35% and 40% of all transfers Ntfs have not made up over 5% of Avalanche smart contact interactions since mid June.

Observations

The top contract by the number of users is the WAVAX contract. Out of the top 15 Smart contracts there is a very large diversity in use case from stablecoins like tether and circle to DEXs like platypus finance or trader joe.

Observations

There are a large number of different dapp, defi, and dex smart contracts that have very diverse marketshare where there are currently only a few large players in NFTs, Layer2s, and Tokens on Avalanche. The average user on Avax uses about 2 smart contracts of different types.

Conclusion

Currently is a very active place for smart contracts with ~40,000 executing between 147,000 and 205,000 smart contract transactions each day. Of these transactions the largest group is token transfers that make up between 35% and 40% of all transfers Ntfs have not made up over 5% of Avalanche smart contact interactions since mid June. Out of the top 15 Smart contracts there is a very large diversity in use case from stablecoins like tether and circle to DEXs like platypus finance or trader joe. The average user on Avax uses about 2 smart contracts of different types.