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Signing partnership deals has been one of the effective ways of developing new projects in the decentralised finance sector. We have seen projects like Polygon rely heavily on forming alliances and synergies, which has currently become a part of the ecosystem’s vision. Avalanche’s ecosystem is also using the power of partnerships to motivate the growth of up and coming projects.
Avalanche is already growing at a phenomenal rate compared to other projects on the same level. Last week, Avalanche surpassed $10 billion Total Value Locked and continues the momentum to the current week. If the graph continues like last week, AVAX might surpass a TVL of $11 billion. The growth that has made Avalanche the 4th largest TVL is expected to continue thanks to the new collaboration between Morphie and AVME.
Morphie is an oracle solution that is entirely owned and operated by its community. The network is set to be fully decentralized with holders, validators and developers using DOAs to make decisions regarding the governance of the network. The primary utility of Morphie is to provide the blockchain networks with verified, first-hand data from the real world to help it keep its relevance in the market. The data sources are verified and validated through the network of nodes and the proprietary algorithm prevents malicious activities by penalising them immediately and automatically.
The new integration can now enhance the quality of data in all smart contracts throughout the blockchain range. Morphie is seen as a more secure alternative for ChainLink for bringing accurate, malice-free and tamper-proof price feeds into the network.
Apart from securing the on-chain security while accessing real-world data, this partnership would bring dApp wallet support to all the projects in the ecosystem. These are positive initiatives in the Avalanche ecosystem amidst rising concerns about privacy and other digital threats. The secure and innovative wallet system from AVME with the tamper-proof price feeds can boost the value of AVAX in the market to a certain level. As the coin is already bullish, forming such partnerships will help it rise and maintain level for as long as possible. Given its current numbers, AVAX is highly unlikely to face a slope from its current position. It could potentially climb a few more steps in the months to come.