🟠 LIVE - Avalanche Summit Day 2: Emin Gün Sirer and AVAX in Barcelona

Avalanche is back with its famous Avalanche Summit in the Catalan capital of Barcelona, following a particularly successful event last year. As always, Avalanche is going big, and Cointribune is excited to bring you all the latest news and important information directly from the heart of Barcelona. After our live coverage yesterday, it’s time for day 2!

Second Day: Avalanche Summit kicks off

After a first day filled with discussions, interviews, and exchanges under the different tents of the Avalanche Summit in Barcelona, the second day promises to be rich in information. Following a late Catalan-style start, where some needed coffee to recover from the after-events organized by the different partners of the Avalanche Summit, discussions resumed on the 4 stages.

Gaming is on the agenda

Two parallel discussions were held on topics related to gaming. “The future of gaming investment, from a VC industry perspective” at the Avalanche Summit theater, with many ecosystem stakeholders such as Brian Johnson from Republic Capital and Tekin Salimi from dao5, where attendees learned more about ways to detect investment opportunities by looking at the impact of the community, token utilities, and all the challenges that can hinder VC investment.

Speaking of users, on the main stage, five experts gathered around the subject of “User-centered design, putting players at the forefront in the Web3 world.” Here, many topics were discussed, including the thorny question of the transition from Web2 to Web3, which often creates a hybrid gaming system where it is difficult to know who will come out on top. Andy Adams from Stardust emphasized that the most important thing is to ensure a smooth transition and the least friction possible in gaming and investment. Andy highlighted that if the user is not even aware that digital assets are on-chain, then the friction is the lowest. Only developers should worry about such issues.

Carlos Roldan from Elixir Games also explained the importance of the community’s strength and how to build a true gaming community. Because once we reach the level of Bored Apes, everything is possible for developers.

Finally, interoperability remains one of the major topics for users and developers. Pie from Kingdom Studios talks about the “castle” in Defi Kingdom, a place where it is possible to learn more about partners who come to build in the Defi Kingdom subnet and thus create interoperability. The solution is not perfect, but it’s a start.

To end the morning, before lunch, we went to the Monastery, atop a small hill, to discuss the bridges between Bitcoin and the Avalanche ecosystem. Whether it’s bridges by wrapping or otherwise, the subject remains very complicated. Jaz Gulati, the creator of Catalog, showed us the demo of his future BTC-AVAX bridge through an integrated wallet. The watchword is to give more utility to Bitcoin, be able to buy NFTs “directly” in BTC, offer more to the community, and above all, in a hyper-simplified way. Bridges are a fascinating subject because much remains to be done to create true fluidity for the user while ensuring optimal price and security. More information in our dedicated article on Bitcoin on Avalanche to come.

Let’s get technical

Right after the tapas for lunch, it was Avascan‘s turn to surprise us – one of Avalanche’s explorers. In the theater, the teams announced a new vision for the Web3 explorer market. To create a real 360-degree vision around Avalanche’s subnets ecosystem, Giacomo Barbieri, COO of Avascan, exclusively presented ICE, the one-click explorer for subnet. This concept may mark the beginning of a new era for the multi-chain explorer and represents a major breakthrough in providing users with a transparent and efficient way to navigate the fast-evolving world of app-chains and next-generation blockchain networks.

Now, let’s dive into tokenization, one of the most important topics of Web3, especially for Avalanche, which defines itself as the expansion tool for the tokenization of real assets. One of the most important points brought up by Karn Saroya of Re is the importance of transparency in insurance management. Bringing insurance on-chain is a way to ensure better cash flow management, as well as enhanced control for regulators who can see transactions in real-time. Anurag Soin from ANZ Bank thinks that managing many off-chain assets remains complicated and not very fluid. Tokenization is therefore one of the solutions that could change the system. Liquidity is also one of the key topics that could bring many financial entities into the tokenization sector, according to Pat Hourigan. The founder of DEFYCA, a frictionless market, believes that we will soon see a strong increase in liquidity once major finance actors have confidence in tokenization.

End of Day-2

The second day ended with a number of particularly interesting conferences. First, in the Subnet dedicated room, there was a discussion on over-tokenization. This shows that the topics are really being worked on, as some experts will go head-to-head on such important issues.

During the discussion, Cathy Yoon from MPCH emphasizes the importance of studying the why of tokenization. What is the objective, what is the audience, is it simply for speculation or for something greater? If we don’t answer these questions, then it’s difficult to know why to tokenize an asset.

The speakers then discuss a central issue, with time, theoretically everything will be tokenizable. But if everything shouldn’t be, in a decentralized world, it is impossible to control who tokenizes what and how. This creates a complicated situation for both developers and regulators, and users. Tim Shan from Dexalot takes a step back and explains that the central point is to know who will be on the buyers’ and sellers’ side of a tokenized asset in 1, 2, 5 years and thus think about a 360-degree vision of tokenization.

To end on a high note, before asking the cornelian question of which after party to choose in the sunny Catalan capital, we find ourselves one last time at the Monastery, where Anusha Chillara, developer at Ava Labs, explains how to create your own customized blockchain on Avalanche! Just that.

However, this conference, much more technical than expected, remains difficult to summarize, but the enthusiasm in the room and the presence of a lot of developers show that the desire and possibility to create their own blockchain has never been stronger! For this, Ava Labs has created the Precompiles, a kind of toolbox of use cases for blockchain development. The future of Subnet-EVM is therefore bright. With Precompiles, it is possible to add features and customization to Subnet-EVM. Tomorrow we will examine in more detail the possibilities on Subnets and how Ava Labs sees their evolution.

Cointribune had the opportunity to chat with Anusha Chillara, who shared with us her top two reasons for creating a Subnet.

Firstly, for institutions, it’s the best way to have a blockchain that fully complies with the country’s regulations, with the assurance of security at the Avalanche level. Secondly, as we’ve seen in these discussions, the gaming world is highly present on Avalanche and in the Subnets. Indeed, it’s relatively easy to manage gas fees, security, and user fluidity.

And with that, this intense second day comes to an end. In between conferences, you can test your thinking skills with a game of chess, admire the beautiful city of Barcelona from the hills, and even take a professional photo to improve your LinkedIn profile. Thanks for following us on this superb second day and see you tomorrow for the third and final day of the Avalanche Summit in Barcelona!