Hot Features
Premium
Trade smarter, not harder: Unleash your inner pro with our toolkit and live discussions.
Various non-centralized protocols have been designed on Abitrum to benefit from some of its delightful features. Examples of these features include speed, low charges, and security. As of now, Abitrum stands as the biggest Ethereum Layer 2 solution. It also has more than three hundred projects, two billion dollars in TVL, and a token known as ABR.
Abitrum Defined
The invention of Ethereum, which is a very incredible invention, subsequently paved the way for developers to design and develop Layer 2 protocols. Such is Abitrum, which is built on top of the Ethereum blockchain, making it much better. Being a great invention, Abitrum has witnessed invlcreadible growth since it was launched in 2021, and more developments when its crypto was released.
Below are some of the very best projects that were built on the Abitrum network to benefit from the incredible features that it offers.
Uniswap
Uniswap commenced operations in 2018 as a decentralized exchange that facilitates the buying and selling of ERC-20 tokens. It also gained considerable traction in the decentralized finance space. Last August (2022), Uniswap released version 3, which was built on Abitrum. Since then, this project has been one of the most famous decentralized applications on Abitrum. Also, version three of Uniswap has introduced the idea of concentrated liquidity, in which users can set particular price ranges where they provide liquidity.
Aave v3
Aave started in 2017, and this project stands in a key position in the decentralized finance space. Through this protocol, users can lend and borrow digital assets without the help of a go-between. Version three of Aave, which commenced operations in March last year (2022), was built on Abitrum. Furthermore, it focuses on interchain support, increased yield for users, and better security. Aave has its own governance token called $AAVE, which is used by users to make important decisions on the protocol.
GMX
GMX is an exchange protocol that was initially started on the Abitrum network in 2021. Subsequently, GMX extrapolated its growth to the Avalanche a few months after its initial takeoff. In addition to allowing users to buy and sell Bitcoin, Ethereum, and other major cryptos, this protocol also allows feature trading, in which users can use a leverage of 50X. This is made possible by the GMX token (functions as both a utility and governance token) and the GLP token (a liquidity provider’s token).
Trader woman working with decentralized finance technology – New alternative financial concept
Radiant Capital
This is a lending platform, but it focuses on inter-chain borrowing and lending. Additionally, this project is supported by LayerZero Technology. This LayerZero technology supports the transfer of digital assets from one blockchain to another. The native coin of this project is RDNT. This native token can be staked to earn rewards. Not long ago, Radiant Capital expanded from Abitrum to the Binance (BNB) blockchain. This was done as one of the steps towards achieving its omnichain money market ambition.
Stargate Finance
This is a link that was developed by LayerZero Labs to solve linking problems in the decentralized finance space. Stargate Finance eliminates the need for wrapped coins to allow users to transfer digital assets to a blockchain that isn’t native. Also, the Stargate token can be staked for liquidity and governance purposes. The project is growing quite well, with more than $430 million in total TVL and $124 million locked in Abitrum.
Curve Finance
Started in 2020 but has become one of the key and renowned decentralized exchanges in the decentralized finance space. Curve finance has reduced slippage, lowered charges, and impermanent losses. Curve Finance has its exchange fee set to 0.04%. Each time someone makes a trade, the fee is shared among LPs (liquidity providers). This project was launched on Abitrum during the close of 2022 and now has a TVL of $95 million on Layer2 and more than $4.4 billion in decentralized finance.
Sushi
Sushiswap is the most popular product of Sushi, and it started as a fork of Uniswap. This protocol usually incentivizes users to move their liquidity from other protocols to theirs. It also tried to one-up Uniswap by designing the SUSHI coin, in addition to the AMM compensation to holders who deposited their token and for providing liquidity. The Sushi protocol has developed further and has become one of the very best decentralized exchanges on the twenty-five blockchains, which include Abitrum.
Balancer
This is a project that introduced the idea of creating a liquidity pool that consists of varied tokens. The liquidity pool here can have up to eight different coins from different populations. Balancer gives liquidity providers the chance to determine the threshold of exposure to some digital assets. This project was initially launched on the Ethereum blockchain in 2020 but was subsequently deployed to the Abitrum network in the following year.
Beefy
This is a multichain yield optimization that enables investors to make the investing and reinvesting process automatic. Beefy’s key product automatically executes yield farming plans, gathers the rewards into one’s deposit, and reinvested the profits. The project started on the BNB smart blockchain and has expanded to the Abitrum chain.
Camelot DEX
Camelot decentralized exchange stands as the number one exchange on Abitrum. Camelot’s key product is the AMM, and it uses a dual liquidity system that was designed to suit high-volatility and low-volatility exchanges. Also, it has two coins, which are the native coin GRAIL and the governance token xGrail. This project benefited immensely when people were preparing for the Abitrum airdrop; this caused its TVL to increase by over 50% and exceed the 100 million threshold.
Learn from market wizards: Books to take your trading to the next level
