Avalanche (AVAX) perpetual market

Avalanche is a proof-of-stake smart-contract platform launched in 2020 by Ava Labs, founded by Cornell computer scientist Emin Gun Sirer. Its native token, AVAX, pays fees, is staked to secure the network and caps its own supply through fee burning. Avalanche's design splits work across three built-in chains and uses a novel consensus family that reaches fast, low-latency finality. Its defining feature is subnets, now called Layer 1s, which let projects launch their own application-specific blockchains that share Avalanche's validator security while setting their own rules, a model aimed at institutions and games that want dedicated chains. Avalanche is compatible with Ethereum tooling, which eased developer migration, and it drew significant DeFi and tokenization activity, including experiments in on-chain funds and real-world assets. It competes directly with Ethereum layer-2s and other high-throughput chains.