Introduction
Ava Labs, the main developer of the Avalanche blockchain, has recently made strategic hires from Polygon and OKX to bolster its presence in India. Devika Mittal, formerly of OKX, and Kamakshi Arjun, previously with Polygon Labs, have joined Ava Labs as the head of India and business development lead for India, respectively.
Partnership and Growth Plans
Mittal stated that Ava Labs aims to collaborate with Indian institutions, developers, and government agencies to facilitate the development of applications on the Avalanche blockchain. The company is in discussions with several prominent institutions and has already finalized a deal with a government agency, although specific details were not disclosed. Ava Labs plans to target various sectors in India, including ticketing, certification, and supply chain management.
Key Initiatives: Avalanche Subnets and Partnerships
Mittal highlighted the significance of Avalanche’s subnets feature, which enables the creation of customizable blockchains and specialized decentralized applications quickly and cost-effectively. Ava Labs recently launched AvaCloud, a no-code platform for launching custom blockchains (subnets) on the Avalanche network. The Avalanche Foundation has also introduced a token incentive program to encourage the growth of subnets on its blockchain.
Expanding in India
Ava Labs has established a dedicated business development fund for India. While the exact size of the fund was not disclosed, Mittal emphasized that Ava Labs is focused on expanding the blockchain ecosystem in India rather than competing for a share of the existing market. The company aims to grow its presence in the country while fostering collaborations with local partners.
Current Status of Avalanche
As of now, Avalanche stands as the seventh-largest blockchain network globally, with a total value locked of nearly $500 million, according to DefiLlama data.
Conclusion
Ava Labs’ strategic hires and initiatives in India reflect its commitment to fostering blockchain innovation and collaboration within the country. With a focus on building partnerships and leveraging Avalanche’s advanced features, Ava Labs aims to contribute to the growth of the blockchain ecosystem in India.
