Introduction
Savvy is a new decentralized credit protocol fair-launching on the Avalanche blockchain on March 21, 2023. This article aims to explain why Savvy chose Avalanche through an analysis of several factors.
Decision Criteria
When choosing a blockchain for our smart contracts, Savvy had several criteria in mind including technology, security, economy, catalysts, and community. Let’s take a closer look at each of these factors.
Technology
The blockchain we chose had to be easy to build on and scalable enough to support our ambitious project. Additionally, we prioritized decentralization and wanted to avoid centralized components like sequencers found in many Ethereum scaling solutions.
Avalanche’s unique consensus model allows for decentralization, speed, safety, low cost, and high throughput without sacrificing performance. Subnets and native cross-chain messaging also caught Savvy’s attention because native cross-chain messaging (Avalanche Warp Messaging) reduces reliance on insecure bridges, which have historically been a significant attack vector in DeFi. Finally, Avalanche’s fast time-to-finality is essential because Savvy will integrate with other Subnets.
Security
Savvy wanted to launch on a secure and decentralized blockchain to maintain user autonomy.
With more than 1000 validators, Avalanche’s security is robust and ranked highly on Savvy’s security and decentralization scale.
Economy
The protocol gas fees needed to be low, so anyone could operate our project economically.
With Subnet transactions as cheap as fractions of a cent, Avalanche makes it easy for Savvy to launch and operate without worrying about high gas fees.
Catalysts
BTC.b is rapidly growing on Avalanche. In only six months, BTC.b surpassed the capacity of the Lightning Network. The growing “Defi-cation” of BTC on Avalanche poses an opportunity for a lending platform like Savvy to empower people to borrow against their BTC safely. Savvy is poised to unlock capital efficiency for the largest cryptocurrency, which is often left idle.
Community
Savvy looked to be part of a growing ecosystem with a high TVL, liquidity, steady trade volumes, and increasing active wallet holders.
Avalanche has partnerships with AWS, Shopify, TSM, and Loco, all projects with massive user bases. Additionally, Savvy was impressed with the passion and dedication of the Avalanche community.
Our interactions with the Avalanche community have been stellar. Our core team attended the first Avalanche Summit conference in Barcelona, where we met the Ava Labs team and other AVAX builders. We were impressed with the passion and dedication of the community.
Conclusion
After considering these factors and conducting an in-depth analysis, the Savvy team concluded that Avalanche was the best fit for initial deployment. Avalanche met Savvy’s technology, security, economy, catalysts, and community criteria. Overall, Avalanche is the ideal home for Savvy’s protocol.
Participate in Savvy’s Community-First Fair Launch
To learn more about how to participate in the fair launch that starts on March 21st (3/21/23), go to Savvy’s fair launch page.
There you should find all the information you need to DYOR. If you have more questions, you can reach us on Discord, Twitter, Telegram, or chat via Intercom on the fair launch page: fairlaunch.savvydefi.io.
