Skip to main content
CAISAI coordination for brands & creators
Home
Get a custom radar

Avalanche Radar · Q2 2026

Avalanche Ecosystem Radar

Avalanche ecosystem radar (Q2 2026 curator set): seven protocols, one structured diligence pass — not a TVL leaderboard.

Generated May 17, 2026Source pull May 17, 2026Methodology v1.0

Protocols

7

All scored, 6 high confidence

AVAX TVL

$796.3M

Aave V3 leads ($331.1M)

30d Fees

$81.1M

Aave V3 leads ($74.0M / 91%)

High Confidence

6

1 low: Kite (TVL data gap)

Executive Summary

Selected for strategic relevance to Avalanche ecosystem Q2 2026 — curated spotlight, not a comprehensive TVL ranking. Composite scoring across 7 curator protocols; strongest signals this pass: Aave V3, Grove Finance, Blackhole. Confidence mix — high: 6, medium: 0, low: 1. This is ecosystem intelligence for operators, not investment advice.

Rankings

Curated protocol matrix

Ranked by composite CAIS score. Click any row to jump into the protocol diligence card.

RankProtocolCategoryScoreConfidenceAVAX TVL30d Fees
#1Aave V3 logoAave V3Lending73.8high$331.1M$74.0M
#2Grove Finance logoGrove FinanceOnchain Capital Allocator65.7high$258.7M$6.2M
#3Blackhole logoBlackholeDEX61.2high$32.4M$432.1K
#4OpenTrade logoOpenTradeRWA55.8high$135.5M$43.7K
#5Pharaoh V3 logoPharaoh V3DEX55.2high$38.5M$483.3K
#6Kite logoKitePrediction markets / agentic infrastructure37.5lown/an/a
#7Arena SocialFi logoArena SocialFiSoFi36.8high$185.8K$2.3K
Aave V3 logo

#1

Aave V3

Lending

73.8

high

AVAX TVL

$331.1M

30d Fees

$74.0M

Grove Finance logo

#2

Grove Finance

Onchain Capital Allocator

65.7

high

AVAX TVL

$258.7M

30d Fees

$6.2M

Blackhole logo

#3

Blackhole

DEX

61.2

high

AVAX TVL

$32.4M

30d Fees

$432.1K

OpenTrade logo

#4

OpenTrade

RWA

55.8

high

AVAX TVL

$135.5M

30d Fees

$43.7K

Pharaoh V3 logo

#5

Pharaoh V3

DEX

55.2

high

AVAX TVL

$38.5M

30d Fees

$483.3K

Kite logo

#6

Kite

Prediction markets / agentic infrastructure

37.5

low

AVAX TVL

n/a

30d Fees

n/a

Arena SocialFi logo

#7

Arena SocialFi

SoFi

36.8

high

AVAX TVL

$185.8K

30d Fees

$2.3K

Category Spotlights

Within-category signals

These are not broad market winners. Each spotlight is scoped to its category and the curated Q2 2026 set.

DEX

blackhole

Blackhole leads the DEX bucket in this curator pass (61.2/100, confidence high).

Lending

aave-v3

Aave V3 leads the Lending bucket in this curator pass (73.8/100, confidence high).

Onchain Capital Allocator

grove-finance

Grove Finance leads the Onchain Capital Allocator bucket in this curator pass (65.7/100, confidence high).

Prediction markets / agentic infrastructure

kite

Kite leads the Prediction markets / agentic infrastructure bucket in this curator pass (37.5/100, confidence low).

RWA

opentrade

OpenTrade leads the RWA bucket in this curator pass (55.8/100, confidence high).

SoFi

arena-socialfi

Arena SocialFi leads the SoFi bucket in this curator pass (36.8/100, confidence high).

Protocol Diligence

Score breakdowns

Composite scores are model-assisted and dimension-weighted. Confidence reflects data completeness, not endorsement.

Aave V3 logo
#1Rank

Aave V3

Lending · aave-v3

Core DeFi liquidity plumbing for Avalanche borrowers and suppliers.

Composite

73.8

high confidence

Dimension Scores

Real Usage Traction

raw 9.0 · weight 20

Real usage / traction: Usage proxy from fees/deployment.

18.0 / 20

Liquidity Economic Activity

raw 7.8 · weight 15

Liquidity & economic activity: Avalanche TVL from ingestion.

11.7 / 15

Fees Revenue Value Capture

raw 9.7 · weight 10

Fees / revenue / value capture: 30d fee aggregate from DefiLlama fees adapter (may be multi-chain).

9.7 / 10

Growth Trend

raw 2.0 · weight 10

Growth trend: 30d TVL change -18.7%.

2.0 / 10

Product Ux

raw 7.5 · weight 10

Product & UX (category baseline): Category baseline for Lending; reduced when manual TODO backlog is high.

7.5 / 10

Token Business Sustainability

raw 7.3 · weight 10

Token & business sustainability: Token AAVE with market data when present.

7.3 / 10

Security Risk Profile

raw 8.5 · weight 10

Security & risk posture: Heuristic from 1 audit record(s), Immunefi bounty, mixed team disclosure, and data-quality penalties.

8.5 / 10

Avalanche Ecosystem Fit

raw 8.5 · weight 10

Avalanche ecosystem fit: Contracts on Avalanche + category alignment with ecosystem priorities.

8.5 / 10

Narrative Strength

raw 1.0 · weight 5

Narrative / social signal: Twitter/social proxies only — GitHub excluded from scoring.

0.5 / 5

Curator Data

Audits
1 · Tier B Firm With Bounty
Bug bounty
Immunefi · $1.0M max
Team disclosure
Mixed
Governance
DAO (on-chain governance via AAVE token holders)
Fully operational DAO with active proposals, risk parameter updates, Aave Labs executing governance on V3.

Market Snapshot

AVAX TVL
$331.1M
30d Fees
$74.0M
Token
AAVE
Token status
live
Curator sources
  • https://immunefi.com/bug-bounty/aave/information/
  • https://aave.com/security
  • https://governance.aave.com/t/al-development-update-april-2026/24821
Grove Finance logo
#2Rank

Grove Finance

Onchain Capital Allocator · grove-finance

Curator-selected strategic exposure for Q2 2026 ecosystem narrative.

Composite

65.7

high confidence

Dimension Scores

Real Usage Traction

raw 7.6 · weight 20

Real usage / traction: Usage proxy from fees/deployment.

15.3 / 20

Liquidity Economic Activity

raw 7.5 · weight 15

Liquidity & economic activity: Avalanche TVL from ingestion.

11.3 / 15

Fees Revenue Value Capture

raw 7.6 · weight 10

Fees / revenue / value capture: 30d fee aggregate from DefiLlama fees adapter (may be multi-chain).

7.6 / 10

Growth Trend

raw 6.0 · weight 10

Growth trend: 30d TVL change 0.4%.

6.0 / 10

Product Ux

raw 6.0 · weight 10

Product & UX (category baseline): Category baseline for Onchain Capital Allocator; reduced when manual TODO backlog is high.

6.0 / 10

Token Business Sustainability

raw 4.0 · weight 10

Token & business sustainability: No liquid token signal.

4.0 / 10

Security Risk Profile

raw 6.5 · weight 10

Security & risk posture: Heuristic from 0 audit record(s), no active bounty, doxxed team disclosure, and data-quality penalties.

6.5 / 10

Avalanche Ecosystem Fit

raw 8.5 · weight 10

Avalanche ecosystem fit: Contracts on Avalanche + category alignment with ecosystem priorities.

8.5 / 10

Narrative Strength

raw 1.0 · weight 5

Narrative / social signal: Twitter/social proxies only — GitHub excluded from scoring.

0.5 / 5

Curator Data

Audits
0 · No audit located
Bug bounty
none
Team disclosure
Doxxed
Governance
Star within Sky ecosystem (autonomous unit with delegated governance)
Operates under Sky (ex-MakerDAO) forums and governance. Institutional credit allocation layer with community/delegate input.

Market Snapshot

AVAX TVL
$258.7M
30d Fees
$6.2M
Token
n/a
Token status
no_token
Curator sources
  • https://grove.finance/
  • https://www.coindesk.com/business/2025/06/25/newest-star-in-sky-ecosystem-launches-with-1b-tokenized-credit-strategy
  • https://www.avax.network/about/blog/grove-finance-launches-on-avalanche-with-usd250m-target-investment
Blackhole logo
#3Rank

Blackhole

DEX · blackhole

Trading and liquidity venue critical for AVAX DeFi depth.

Composite

61.2

high confidence

Dimension Scores

Real Usage Traction

raw 5.9 · weight 20

Real usage / traction: Usage proxy from fees/deployment.

11.9 / 20

Liquidity Economic Activity

raw 5.0 · weight 15

Liquidity & economic activity: Avalanche TVL from ingestion.

7.5 / 15

Fees Revenue Value Capture

raw 5.3 · weight 10

Fees / revenue / value capture: 30d fee aggregate from DefiLlama fees adapter (may be multi-chain).

5.3 / 10

Growth Trend

raw 6.0 · weight 10

Growth trend: 30d TVL change 1.1%.

6.0 / 10

Product Ux

raw 7.0 · weight 10

Product & UX (category baseline): Category baseline for DEX; reduced when manual TODO backlog is high.

7.0 / 10

Token Business Sustainability

raw 6.0 · weight 10

Token & business sustainability: Token BLACK with market data when present.

6.0 / 10

Security Risk Profile

raw 8.5 · weight 10

Security & risk posture: Heuristic from 2 audit record(s), Code4rena bounty, pseudonymous_with_track_record team disclosure, and data-quality penalties.

8.5 / 10

Avalanche Ecosystem Fit

raw 8.5 · weight 10

Avalanche ecosystem fit: Contracts on Avalanche + category alignment with ecosystem priorities.

8.5 / 10

Narrative Strength

raw 1.0 · weight 5

Narrative / social signal: Twitter/social proxies only — GitHub excluded from scoring.

0.5 / 5

Curator Data

Audits
2 · Tier C Firm Only
Bug bounty
Code4rena
Team disclosure
Pseudonymous With Track Record
Governance
ve(3,3) with veNFT model (Singularity/Supermassive NFTs for emissions voting)
Operational on-chain governance with community emissions control. No observed centralization.

Market Snapshot

AVAX TVL
$32.4M
30d Fees
$432.1K
Token
BLACK
Token status
live
Curator sources
  • https://docs.blackhole.xyz/security
  • https://github.com/code-423n4/blackhole-bug-bounty
  • https://research.tokenmetrics.com/p/deep-dive-blackhole-avalanche-s-gravity-defying-dex-469b
OpenTrade logo
#4Rank

OpenTrade

RWA · opentrade

Tokenized fund/RWA conduit for regulated capital on Avalanche.

Composite

55.8

high confidence

Dimension Scores

Real Usage Traction

raw 4.4 · weight 20

Real usage / traction: Usage proxy from fees/deployment.

8.9 / 20

Liquidity Economic Activity

raw 6.8 · weight 15

Liquidity & economic activity: Avalanche TVL from ingestion.

10.1 / 15

Fees Revenue Value Capture

raw 3.3 · weight 10

Fees / revenue / value capture: 30d fee aggregate from DefiLlama fees adapter (may be multi-chain).

3.3 / 10

Growth Trend

raw 5.0 · weight 10

Growth trend: Growth trend unknown.

5.0 / 10

Product Ux

raw 7.0 · weight 10

Product & UX (category baseline): Category baseline for RWA; reduced when manual TODO backlog is high.

7.0 / 10

Token Business Sustainability

raw 4.0 · weight 10

Token & business sustainability: No liquid token signal.

4.0 / 10

Security Risk Profile

raw 8.5 · weight 10

Security & risk posture: Heuristic from 1 audit record(s), no active bounty, doxxed team disclosure, and data-quality penalties.

8.5 / 10

Avalanche Ecosystem Fit

raw 8.5 · weight 10

Avalanche ecosystem fit: Contracts on Avalanche + category alignment with ecosystem priorities.

8.5 / 10

Narrative Strength

raw 1.0 · weight 5

Narrative / social signal: Twitter/social proxies only — GitHub excluded from scoring.

0.5 / 5

Curator Data

Audits
1 · Tier C Firm Only
Bug bounty
none
Team disclosure
Doxxed
Governance
Institutional platform with regulated legal framework (Cayman SPC, bankruptcy-remote)
Hybrid: off-chain regulated entities + on-chain stablecoin/USDC rails via Perimeter Protocol fork. Not a DAO.

Market Snapshot

AVAX TVL
$135.5M
30d Fees
$43.7K
Token
n/a
Token status
no_token
Curator sources
  • https://docs.opentrade.io/code-audits
  • https://docs.opentrade.io/contract-addresses
  • https://www.theblock.co/post/400187/opentrade-raises-17m-to-expand-stablecoin-yield-infrastructure-after-topping-200m-tvl
  • https://www.avax.network/about/blog/expanding-real-world-yield-on-avalanche-with-sierra-and-opentrade
Pharaoh V3 logo
#5Rank

Pharaoh V3

DEX · pharaoh-v3

Trading and liquidity venue critical for AVAX DeFi depth.

Composite

55.2

high confidence

Dimension Scores

Real Usage Traction

raw 6.0 · weight 20

Real usage / traction: Usage proxy from fees/deployment.

12.0 / 20

Liquidity Economic Activity

raw 5.2 · weight 15

Liquidity & economic activity: Avalanche TVL from ingestion.

7.9 / 15

Fees Revenue Value Capture

raw 5.4 · weight 10

Fees / revenue / value capture: 30d fee aggregate from DefiLlama fees adapter (may be multi-chain).

5.4 / 10

Growth Trend

raw 4.0 · weight 10

Growth trend: 30d TVL change -6.7%.

4.0 / 10

Product Ux

raw 7.0 · weight 10

Product & UX (category baseline): Category baseline for DEX; reduced when manual TODO backlog is high.

7.0 / 10

Token Business Sustainability

raw 4.0 · weight 10

Token & business sustainability: No liquid token signal.

4.0 / 10

Security Risk Profile

raw 6.0 · weight 10

Security & risk posture: Heuristic from 1 audit record(s), no active bounty, anonymous team disclosure, and data-quality penalties.

6.0 / 10

Avalanche Ecosystem Fit

raw 8.5 · weight 10

Avalanche ecosystem fit: Contracts on Avalanche + category alignment with ecosystem priorities.

8.5 / 10

Narrative Strength

raw 1.0 · weight 5

Narrative / social signal: Twitter/social proxies only — GitHub excluded from scoring.

0.5 / 5

Curator Data

Audits
1 · No Tier
Bug bounty
none
Team disclosure
Anonymous
Governance
Solidly-style ve(3,3) fork
Standard fork governance with vote-escrow emissions. No material deviation.

Market Snapshot

AVAX TVL
$38.5M
30d Fees
$483.3K
Token
n/a
Token status
no_token
Curator sources
  • https://docs.pharaoh.exchange/pages/inherited-security
  • https://build.avax.network/integrations/pharaoh
  • https://defillama.com/protocol/pharaoh-exchange
Kite logo
#6Rank

Kite

Prediction markets / agentic infrastructure · kite

Agentic / prediction infrastructure aligned with Avalanche L1 experimentation.

Composite

37.5

low confidence

Dimension Scores

Real Usage Traction

raw 2.0 · weight 20

Real usage / traction: Usage proxy from fees/deployment.

4.0 / 20

Liquidity Economic Activity

raw 0.0 · weight 15

Liquidity & economic activity: TVL missing — liquidity inferred from token mcap proxy.

0.0 / 15

Fees Revenue Value Capture

raw 0.0 · weight 10

Fees / revenue / value capture: Fees unavailable.

0.0 / 10

Growth Trend

raw 5.0 · weight 10

Growth trend: Growth trend unknown.

5.0 / 10

Product Ux

raw 6.0 · weight 10

Product & UX (category baseline): Category baseline for Prediction markets / agentic infrastructure; reduced when manual TODO backlog is high.

6.0 / 10

Token Business Sustainability

raw 6.0 · weight 10

Token & business sustainability: Token KITE with market data when present.

6.0 / 10

Security Risk Profile

raw 9.5 · weight 10

Security & risk posture: Heuristic from 2 audit record(s), Code4rena bounty, doxxed team disclosure, and data-quality penalties.

9.5 / 10

Avalanche Ecosystem Fit

raw 7.0 · weight 10

Avalanche ecosystem fit: Contracts on Avalanche + category alignment with ecosystem priorities.

7.0 / 10

Narrative Strength

raw 0.0 · weight 5

Narrative / social signal: Twitter/social proxies only — GitHub excluded from scoring.

0.0 / 5

Curator Data

Audits
2 · Tier C Firm Only
Bug bounty
Code4rena · $10.0K max
Team disclosure
Doxxed
Governance
Programmable governance with verifiable identity for AI agents (PoAI layer)
On-chain governance via KITE token + staking/rewards contracts on Avalanche L1/subnet architecture.

Market Snapshot

AVAX TVL
n/a
30d Fees
n/a
Token
KITE
Token status
live
Curator sources
  • https://code4rena.com/bounties/kite-ai
  • https://gokite.ai/mica-whitepaper
  • https://www.avax.network/about/blog/kite-ai-to-launch-the-first-avalanche-l1-artificial-intelligence-platform
  • https://www.avax.network/about/blog/1-9-billion-interactions-later-it-goes-live
Arena SocialFi logo
#7Rank

Arena SocialFi

SoFi · arena-socialfi

Curator-selected strategic exposure for Q2 2026 ecosystem narrative.

Composite

36.8

high confidence

Dimension Scores

Real Usage Traction

raw 2.5 · weight 20

Real usage / traction: Usage proxy from fees/deployment.

5.1 / 20

Liquidity Economic Activity

raw 0.0 · weight 15

Liquidity & economic activity: Avalanche TVL from ingestion.

0.0 / 15

Fees Revenue Value Capture

raw 0.7 · weight 10

Fees / revenue / value capture: 30d fee aggregate from DefiLlama fees adapter (may be multi-chain).

0.7 / 10

Growth Trend

raw 4.0 · weight 10

Growth trend: 30d TVL change -8.0%.

4.0 / 10

Product Ux

raw 6.0 · weight 10

Product & UX (category baseline): Category baseline for SoFi; reduced when manual TODO backlog is high.

6.0 / 10

Token Business Sustainability

raw 6.0 · weight 10

Token & business sustainability: Token ARENA with market data when present.

6.0 / 10

Security Risk Profile

raw 6.0 · weight 10

Security & risk posture: Heuristic from 1 audit record(s), no active bounty, anonymous team disclosure, and data-quality penalties.

6.0 / 10

Avalanche Ecosystem Fit

raw 8.5 · weight 10

Avalanche ecosystem fit: Contracts on Avalanche + category alignment with ecosystem priorities.

8.5 / 10

Narrative Strength

raw 1.0 · weight 5

Narrative / social signal: Twitter/social proxies only — GitHub excluded from scoring.

0.5 / 5

Curator Data

Audits
1 · No Tier
Bug bounty
none
Team disclosure
Anonymous
Governance
None located
No active on-chain governance or multisig activity observed.

Market Snapshot

AVAX TVL
$185.8K
30d Fees
$2.3K
Token
ARENA
Token status
live

Recent Incidents

  • 2023-10: Reentrancy exploit on original Stars Arena contracts ($3.0M). Resolution: Funds partially recovered via white-hat; protocol resumed after Paladin audit.
Curator sources
  • https://thedefiant.io/news/defi/stars-arena-exploit
  • https://www.certik.com/blog/stars-arena-incident-analysis
  • https://www.avax.network/about/blog/the-arenas-comeback-socialfi-app-on-avalanche-secures-2m-pre-seed-funding-and-plans-mainstream-expansion

Risk Register

Methodology risks and data gaps

This is part of the report, not a legal footer. It shows where the scoring is strongest and where the data is thin.

high

Curated spotlight — not exhaustive coverage

This report evaluates seven strategist-selected protocols. Absence from the list is not a negative signal.

medium

Cross-chain fee/TVL attribution

DefiLlama fee aggregates may include non-Avalanche activity when protocol detail endpoints fail. Treat economics as directional.

medium

kite

Kite: incomplete market telemetry

Protocol detail missing on DefiLlama — TVL/growth may be under-reported until slug mapping is fixed.

Aggregate Data Gaps

  • Monthly active wallets/addresses requires a delegated analytics connector (Nansen, Flipside, Dune+) — Snowtrace helpers only approximate contract traffic.
  • DefiLlama miss — coverage absent as of 2026-05-17; relying on Snowtrace + curator-supplied data only.

Methodology

Methodology

The source methodology is rendered directly from the frozen publication artifact.

Avalanche Ecosystem Radar — Agent Methodology (CAIS)

Use this skill when running Phase B1 ingestion + Phase B2 synthesis for the curated Q2 2026 Avalanche protocol set.

Framing (non-negotiable)

  • Report title mindset: "Selected for strategic relevance to Avalanche ecosystem Q2 2026"
  • This is not a comprehensive TVL ranking or "top dApps" list.
  • GitHub may appear as a footnote only — never a scored dimension.

Curated universe (7)

KeyProtocolCategory
aaveAave V3Lending
arenaArenaSocial / SocialFi
kiteKitePrediction / agentic
groveGrove FinanceInstitutional lending
opentradeOpenTradeRWA
pharaohPharaohDEX
blackholeBlackholeDEX

Scoring rubric (100 points)

DimensionWeight
realUsageTraction20
liquidityEconomicActivity15
feesRevenueValueCapture10
growthTrend10
productUx10
tokenBusinessSustainability10
securityRiskProfile10
avalancheEcosystemFit10
narrativeStrength5

Confidence (high | medium | low) is separate from score — reflects data completeness, not quality of protocol.

Agent team (B2 pipeline order)

  1. ecosystemMapperAgent — curator framing + universe
  2. dataAgent — numeric scoring from ingestion JSON
  3. productAgent — UX baseline notes (category heuristics in v1)
  4. categorySpecialistAgent — within-category spotlights (not cross-category winners)
  5. tokenBusinessAgent — token/treasury narrative constraints
  6. riskAgent — structured risk register
  7. avalancheFitAgent — AVAX deployment / subnet relevance
  8. redTeamAgent — confidence haircuts, methodology challenges
  9. xReportEditorAgent — executive summary + X thread + table prompts

Commands

cd scripts/ecosystem-radar
npm install

# B1 — fetch curated ingestion
npx tsx bin/fetch.ts --chain avalanche \
  --protocols arena,kite,aave,grove,opentrade,pharaoh,blackhole \
  --out data/avalanche-curated-$(date +%F).json

# B2 — synthesize report
npx tsx bin/synthesize.ts --in data/avalanche-curated-$(date +%F).json

Valid output contract

B2 report JSON must include: executiveSummary, protocolAssessments[] (score + confidence + explanations), categorySpotlights[], aggregateDataGaps[], risks[], xThreadDraft, visualTableSuggestions[], agentSummaries.

Future connectors (B3)

  • DefiLlama protocol detail slug repair (fix null AVAX TVL)
  • Nansen / Flipside for MAU
  • Manual curator fields: audits, team disclosure, bug bounty

Agent Summaries

Ecosystem Mapper Agent

Mapped 7 curator protocols + Q2 2026 strategic theme matrix (7 rows).

Data Agent

Scored 7 protocols on 9 dimensions (100 pts). GitHub excluded from scoring.

Product Agent

Product/UX dimension uses category baselines; no live app crawl in B2 v1.

Category Specialist Agent

Published 6 within-category spotlights (not cross-category winners).

Token Business Agent

Token sustainability uses market cap + symbol presence; treasury/emissions need manual curator inputs.

Risk Agent

Logged 3 structured risk findings including methodology disclosures.

Avalanche Fit Agent

Ecosystem-fit dimension rewards Avalanche contract presence; subnet/L1 narratives flagged in strategic blurbs.

Red Team Agent

Applied confidence haircuts when manual TODO density indicated weak primary-source coverage.

X Report Editor Agent

(no summary)

Frozen Q2 2026 publication · Data fetched May 17, 2026 · Next: Q3 2026

Disclosure

CAIS Avalanche Ecosystem Radar — curated Q2 2026 set. Scores are model-assisted with explicit data gaps; verify on-chain before acting.

Raw report.jsonMethodology sourceJump to methodology

Built with CAIS

Avalanche ecosystem intelligence · Q2 2026 · structured for operators.

Subscribe for next radar

CAIS is an operating layer for teams and communities: identity, events, and intelligence in one coordinated shell. Free with email, wallet optional, no token.

thecaisai@proton.me

Navigation

  • Home
  • Waitlist
  • Book a call
  • Contact

Product

Three connected stacks for identity, events, and intelligence, built on rooms and agents. Start free with an email login.

Stacks roll out in stages. Preview UI is labeled throughout.

© … CAIS.

Trust and verification built with EVA-aligned primitives.