Demex Daily #291: Avalanche Launches "9,000" Testnet with $40M Grants for L1 Growth

What’s Interesting Today:

Avalanche has launched the "Avalanche9,000" testnet, a major upgrade aimed at reducing costs and simplifying L1 development, with a full mainnet release planned for 2025. The Avalanche Foundation will distribute $40 million in retroactive grants to incentivize developers, including $2 million for referrals. Key features include lower C-Chain fees, new validator frameworks, and enhanced support for project-specific L1 chains, reducing deployment costs by 99.9%. Over 500 L1s are in development, with Interchain Messaging enabling cross-L1 dApps.

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Ripple has launched the first tokenized money market fund on the XRP Ledger (XRPL) in partnership with UK firms Archax and Abrdn. Ripple invested $5 million in Abrdn's £3.8 billion US Dollar Liquidity Fund. This move highlights XRPL's growing role in tokenizing real-world assets (RWAs), offering low transaction costs, scalability, and compliance, making it attractive to financial institutions. As the RWA tokenization market rapidly expands, XRPL is emerging as a key player alongside Ethereum and Avalanche.

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