Key Points:
– Optimism is a popular layer 2 solution for Ethereum, offering cheaper and faster transactions and tackling scalability issues.
– Velodrome Finance leads with the highest TVL on Optimism, currently at $165 million. It rebranded from veDAO on Fantom and offers features like locking VELO tokens for rewards and trading veNFTs.
– Synthetix Network works with synthetic assets and has a current TVL of $361 million on Optimism. Users can have exposure to assets without owning them by depositing collateral and staking it.
– Aave is a DeFi lending protocol with a total TVL of $2.14 billion. On Optimism, its TVL is $72 million. Aave uses liquidity pools for lending and borrowing and was the first protocol to introduce flash loans.
Hot Take:
Optimism’s layer 2 solution provides scalability and efficiency to Ethereum, and several top platforms are thriving on this network. Velodrome Finance, Synthetix Network, and Aave offer unique features and have significant Total Value Locked (TVL) on Optimism. These platforms showcase the power and potential of layer 2 solutions in the crypto space, and investors and users should keep an eye on their developments.
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