Are you looking to invest in promising crypto projects and secure your future? Well, we have you covered. Today, we will cover the 5 most potential Arbitrum-based crypto projects.
For starters, Arbitrum is a layer-two blockchain for Ethereum using optimistic rollups as its cryptocurrency scaling technology. It processes transactions on its proprietary sidechain and relays the new chain state to the Ethereum mainnet.
This way, it achieves faster speeds, lower costs, and higher throughput than Ethereum while maintaining the same level of security and decentralization.
Arbitrum has attracted a lot of attention from developers and users who want to enjoy the benefits of Ethereum without its limitations. Many popular projects have launched or integrated with Arbitrum, creating a vibrant ecosystem of decentralized applications (DApps) on this platform.
In this article, we will explore some of the top Arbitrum-based crypto projects that are worth checking out. These projects span various categories, such as decentralized exchanges (DEXs), lending platforms, derivatives markets, yield aggregators, and more. They offer innovative solutions and services that leverage the power of Arbitrum and Ethereum.
GMX is a decentralized perpetual exchange that allows users to trade any asset with up to 30x leverage. It supports both crypto and traditional assets, such as stocks, commodities, indices, and forex. Users can also create their own synthetic assets and trade them on GMX.
GMX is powered by a unique token model that rewards users for trading and holding GMX tokens. GMX tokens are used for governance, staking, and fee reduction. Users who stake GMX tokens can earn a share of the trading fees generated by the platform. Users who hold GMX tokens can also benefit from fee rebates and discounts.
GMX is one of the first projects to launch on Arbitrum One, the mainnet version of Arbitrum. By using Arbitrum, GMX can offer fast execution, low latency, and minimal gas fees to its users. GMX also plans to integrate with other layer-two solutions, such as Polygon and Optimism, to provide cross-chain liquidity and interoperability.
GMX has amassed a TVL of over $600 million on its protocol.
Uniswap is the most popular DEX on Ethereum, with over $3 billion in daily trading volume. It allows users to swap any ERC-20 token without intermediaries, order books, or KYC. It also enables users to provide liquidity to any pair of tokens and earn fees from each trade.
Uniswap is based on an automated market maker (AMM) model, which uses smart contracts to create liquidity pools for each token pair. Users can exchange tokens by interacting with these pools, which adjust their prices according to supply and demand.
Uniswap has recently deployed its protocol on Arbitrum One, offering users a faster and cheaper way to trade on Uniswap. Users can access Uniswap on Arbitrum through a dedicated interface that connects to their existing wallets. Users can also migrate their liquidity from Ethereum to Arbitrum using a bridge tool.
The TVL on Arbitrum’s version of Uniswap V3 is around $326 million.
Radiant is a decentralized derivatives market that allows users to trade options and futures on any asset. It supports both crypto and traditional assets, such as stocks, commodities, indices, and forex. Users can also create their own custom contracts and trade them on Radiant.
Radiant is powered by a novel pricing mechanism that uses Oracle data and peer-to-peer liquidity to determine fair market prices for each contract. Users can trade contracts with zero slippage, low fees, and high leverage. Users can also hedge their risks or speculate on price movements using Radiant.
Radiant is one of the first projects to launch on Arbitrum Nova, the second version of Arbitrum that focuses on web3 social and gaming applications. By using Arbitrum Nova, Radiant can offer fast execution, low latency, and minimal gas fees to its users. Radiant also plans to integrate with other layer-two solutions, such as Polygon and Optimism, to provide cross-chain liquidity and interoperability.
Radiant’s TVL has seen a massive spike over the last three months. The total value locked on the protocol is just shy of $300 million.
Aave is a decentralized lending platform that allows users to borrow and lend any ERC-20 token. It supports both overcollateralized and undercollateralized loans, as well as flash loans that can be executed within one transaction. Users can also earn interest on their deposits and borrow at variable or stable rates.
Aave is powered by a governance token called AAVE, which is used for voting on protocol upgrades, risk parameters, and new features. AAVE holders can also stake their tokens to secure the protocol and earn rewards. Aave also has a secondary token called aToken, which represents the user’s deposit plus interest.
Aave has recently deployed its protocol on Arbitrum One, offering users a faster and cheaper way to borrow and lend on Aave. Users can access Aave on Arbitrum through a dedicated interface that connects to their existing wallets. Users can also migrate their liquidity from Ethereum to Arbitrum using a bridge tool.
The TVL in Arbitrum’s native Aave v3 is around $160 million.
#5. Meta—the new age stablecoin cryptocurrency
Arbitrum’s first yield-bearing stablecoin, mUSD, is launching soon. Not only is it the first Arbitrum-native yield-generating stablecoin, but it is also the highest yield-paying stablecoin across the entire Ethereum DeFi-verse.
It lets you stake GLP tokens from the GMX protocol, the largest DEX on Arbitrum, and mint mUSD stablecoins that earn up to over 20% APY. You can mint mUSD tokens by staking GLP from the GMX protocol. Unlike other liquid staking derivatives, mUSD has no lockup periods, and you can withdraw GLP anytime.
mUSD tokens are backed by GLP, which shares 70% of GMX trading fees. You get weekly yields in ETH, which are converted to mUSD. Some of this yield goes to META holders, another token of Meta Protocol. META is an ERC-20 token for governance, voting, staking, minting, and liquidator rewards.
Arbitrum is a promising layer-two solution that aims to scale Ethereum without compromising its security and decentralization. It has attracted many popular projects that want to offer their users a better experience and performance. These projects showcase the potential and diversity of the Arbitrum ecosystem, which is expected to grow further in the future.
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May the Force Be With You!