Question 1

AVAX Price

Accepted Answer

AVAX recorded its highest-ever price of $144.96 in November 2021. The spike followed an announcement by the company behind Avalanche that it was [partnering](https://www.coindesk.com/markets/2021/11/17/avalanches-avax-token-surges-to-all-time-high-after-deloitte-deal-defying-crypto-trend/) with global accounting firm Deloitte to “build more efficient disaster relief platforms using the Avalanche blockchain.”

In August 2021, the AVAX price more than [doubled](https://www.coindesk.com/markets/2021/08/18/avalanches-avax-token-jumps-on-180m-incentive-program/) following the announcement of a $180 million liquidity mining incentive program, which meant that certain [decentralized finance](https://www.coindesk.com/learn/what-is-defi/) (DeFi) protocols would be launched on the Avalanche network and their users would be rewarded in AVAX tokens in addition to regular interest payments. The first two DeFi protocols involved were Aave and Curve.

In February 2021, when it was 5 months old, the AVAX price spiked and then rapidly fell again as a high volume of transactions on the network slowed down the network and revealed a [coding bug](https://www.coindesk.com/tech/2021/02/14/avalanche-crippled-by-bug-triggered-by-unusually-high-volume-engineer-says/). The launch of decentralized exchange Pangolin on the Avalanche network led to a surge of interest in AVAX and a breakdown in the minting validation process, which dramatically slowed down transaction processing speeds. The company said the bug was promptly fixed.

AVAX supply is capped at 720 million tokens, with an initial issuance of 360 million tokens.

Question 2

How does AVAX work?

Accepted Answer

The Avalanche network consists of three interrelated blockchains. It claims to outperform leading blockchain platforms like Bitcoin, Ethereum and Polkadot in a range of efficiency measures, including transactional capacity and security.

Avalanche achieves that by using what it calls a ‘family’ of consensus protocols, collectively named Snow. The protocols are among those breaking new cryptographical ground, different from both classical and Nakamoto consensus protocols. It aims to combine classical consensus protocols’ promise of low latency (speed) and high throughput (size) with Nakamoto’s robustness and decentralization.

Users stake AVAX to validate transactions on the Avalanche blockchain, but they aren’t rewarded with AVAX for doing so; instead, AVAX is burned, reducing the supply of the token and tending to support the value of the tokens the users already own. The appeal of this approach is that it benefits all holders of the tokens, not just the largest staker. It is designed to avoid the richest participants growing disproportionately richer.

[Nodes](https://www.bitpanda.com/academy/en/lessons/what-is-a-bitcoin-node/) on the Avalanche network can earn the right to mint AVAX by staking their tokens. The extent of their right to mint is algorithmically related to the responsiveness and speediness in the consensus process, to encourage better behaviour by nodes.

Question 3

Key events and management

Accepted Answer

Avalanche was launched in September 2020 by Emin Gun Sirer, a computer science professor at Cornell University and CEO of Ava Labs, the company behind the network.

In December 2021, Ava Labs was selected by Mastercard as one of five startups to join a program to help build up their businesses. And in the same month, a Bank of America report identified Avalanche as a viable alternative to Ethereum.

#	Instrument	Exchange	Benchmark Score	Price	24h Change	24h Volume	24h Trades	24h Open	24h High
1	AVAX-USDT AVAXUSDT	binance	AA	9.02USDT	1.22%	1,612,687.31AVAX	159,673	8.92USDT	9.16USDT
2	AVAX-USDT AVAX-USDT	kucoin	BB	9.02USDT	1.18%	921,791.08AVAX	8,185	8.92USDT	9.16USDT
3	AVAX-USDT AVAX_USDT	whitebit	BB	9.02USDT	1.19%	508,909.43AVAX	20,647	8.92USDT	9.16USDT
4	AVAX-USD AVAX-USD	coinbase	AA	9.02USD	1.26%	413,147.22AVAX	18,438	8.90USD	9.15USD
5	AVAX-USDT AVAX-USDT	okex	A	9.02USDT	1.23%	330,640.19AVAX	20,280	8.91USDT	9.17USDT
6	AVAX-USDT AVAX_USDT	gateio	A	9.03USDT	1.23%	304,535.95AVAX	26,700	8.92USDT	9.18USDT
7	AVAX-USDT AVAXUSDT	bybit	A	9.02USDT	1.17%	301,696.77AVAX	27,471	8.92USDT	9.16USDT
8	AVAX-USD AVAXUSD	kraken	AA	9.01USD	1.27%	201,159.53AVAX	3,233	8.90USD	9.16USD
9	AVAX-TRY AVAXTRY	binance	AA	448.70TRY	1.45%	200,674.06AVAX	8,501	442.30TRY	455.00TRY
10	AVAX-WBT AVAX_WBT	whitebit	BB	0.1156WBT	0.78%	169,148.39AVAX	3,272	0.1147WBT	0.1166WBT
11	AVAX-USDC AVAXUSDC	binance	AA	9.02USDC	1.25%	108,356.77AVAX	9,136	8.90USDC	9.16USDC
12	AVAX-USDC AVAX_USDC	whitebit	BB	9.02USDC	1.34%	98,037.65AVAX	2,489	8.90USDC	9.14USDC
13	AVAX-USDT AVAXUSDT_SPBL	bitget	BB	9.03USDT	1.20%	83,330.75AVAX	8,841	8.92USDT	9.16USDT
14	AVAX-USD avaxusd	bitstamp	AA	9.01USD	1.26%	54,833.04AVAX	1,834	8.90USD	9.15USD
15	AVAX-EUR AVAXEUR	kraken	AA	8.08EUR	0.70%	51,803.95AVAX	720	8.02EUR	8.20EUR
16	AVAX-BTC AVAXBTC	binance	AA	0.0₃1108BTC	0.54%	49,719.57AVAX	1,163	0.0₃1102BTC	0.0₃1120BTC
17	AVAX-TRY AVAX_TRY	whitebit	BB	450.49TRY	1.35%	39,124.92AVAX	1,095	444.51TRY	456.26TRY
18	AVAX-USDC AVAXUSDC	bybit	A	9.01USDC	1.12%	34,764.66AVAX	928	8.91USDC	9.15USDC
19	AVAX-USDT AVAXUSDT	kraken	AA	9.01USDT	0.39%	21,077.92AVAX	401	8.98USDT	9.15USDT
20	AVAX-USDC AVAXUSDC	kraken	AA	9.01USDC	0.98%	18,468.29AVAX	293	8.92USDC	9.15USDC
21	AVAX-USD AVAX_USD	cryptodotcom	AA	9.02USD	1.29%	14,969.34AVAX	5,200	8.90USD	9.16USD
22	AVAX-USD AVAXUSD	hashkey	A	9.01USD	1.12%	14,868.95AVAX	447	8.91USD	9.09USD
23	AVAX-EUR AVAX_EUR	whitebit	BB	8.08EUR	0.97%	14,363.07AVAX	395	8.00EUR	8.15EUR
24	AVAX-USDC AVAX-USDC	kucoin	BB	9.01USDC	1.19%	14,367.10AVAX	693	8.90USDC	9.15USDC
25	AVAX-BTC AVAX_BTC	whitebit	BB	0.0₃1108BTC	0.48%	13,783.78AVAX	365	0.0₃1103BTC	0.0₃1119BTC
26	AVAX-USDC AVAX-USDC	okex	A	9.02USDC	1.35%	12,792.93AVAX	5,152	8.90USDC	9.17USDC
27	AVAX-FDUSD AVAXFDUSD	binance	AA	9.04FDUSD	1.28%	12,696.47AVAX	766	8.92FDUSD	9.17FDUSD
28	AVAX-USD AVAX:USD	bitfinex	BB	9.02USD	0.85%	11,906.14AVAX	467	8.94USD	9.16USD
29	AVAX-USDT AVAX_USDT	cryptodotcom	AA	9.02USDT	1.19%	11,506.73AVAX	4,943	8.92USDT	9.16USDT
30	AVAX-EUR AVAXEUR	binance	AA	8.07EUR	0.86%	10,672.99AVAX	434	8.00EUR	8.20EUR
31	AVAX-EUR avaxeur	bitstamp	AA	8.08EUR	0.64%	6,378.24AVAX	316	8.03EUR	8.20EUR
32	AVAX-USD avaxusd	gemini	A	9.01USD	0.65%	5,833.18AVAX	392	8.95USD	9.15USD
33	AVAX-EUR AVAX-EUR	coinbase	AA	8.08EUR	0.81%	5,195.23AVAX	350	8.01EUR	8.18EUR
34	AVAX-USDC AVAX_USDC	gateio	A	9.03USDC	1.32%	4,323.02AVAX	318	8.91USDC	9.12USDC
35	AVAX-TRY AVAX-TRY	okex	A	445.80TRY	1.07%	3,915.28AVAX	80	441.10TRY	450.50TRY
36	AVAX-HKD AVAXHKD	oslhongkong	A	70.73HKD	1.22%	3,561.69AVAX	2,557	69.88HKD	71.60HKD
37	AVAX-USDT AVAX:UST	bitfinex	BB	9.06USDT	0.99%	3,299.59AVAX	186	8.98USDT	9.17USDT
38	AVAX-USDT AVAXUSDT	cexio	BB	8.98USDT	0.97%	2,544.51AVAX	16	8.90USDT	9.01USDT
39	AVAX-EUR AVAX-EUR	okex	A	8.07EUR	0.85%	2,179.95AVAX	251	8.00EUR	8.21EUR
40	AVAX-USDC AVAXUSDC	bullish	AA	8.84USDC	-0.47%	930.38AVAX	6	8.89USDC	9.00USDC
41	AVAX-USDC AVAXUSDC_SPBL	bitget	BB	9.02USDC	1.21%	497.61AVAX	604	8.91USDC	9.16USDC
42	AVAX-BRL AVAXBRL	binance	AA	48.74BRL	1.92%	476.78AVAX	55	47.82BRL	48.88BRL
43	AVAX-USDT AVAX-USDT	coinbase	AA	9.01USDT	0.76%	376.18AVAX	10	8.95USDT	9.14USDT
44	AVAX-USD1 AVAXUSD1	binance	AA	9.12USD1	4.65%	356.21AVAX	11	8.72USD1	9.13USD1
45	AVAX-EUR AVAXEUR_SPBL	bitget	BB	8.09EUR	1.02%	330.52AVAX	1,555	8.00EUR	8.21EUR
46	AVAX-U AVAXU	binance	AA	9.02U	1.09%	222.74AVAX	89	8.92U	9.15U
47	AVAX-BTC AVAX-BTC	coinbase	AA	0.0₃1096BTC	-0.55%	191.73AVAX	228	0.0₃1102BTC	0.0₃1108BTC
48	AVAX-USD AVAXUSD	cexio	BB	8.87USD	1.41%	180.71AVAX	5	8.75USD	8.96USD
49	AVAX-EUR AVAXEUR	bybit	A	8.16EUR	4.21%	111.52AVAX	13	7.83EUR	8.16EUR
50	AVAX-BTC AVAX_BTC	cryptodotcom	AA	0.0₃1102BTC	0.10%	96.96AVAX	67	0.0₃1101BTC	0.0₃1119BTC