The Rise of Arbitrum-based Projects
Arbitrum-based applications have seen a significant increase in Total Value Locked (TVL) recently, with a $1 billion rise since October. This surge in attention is due to Arbitrum’s ability to address the weaknesses of Ethereum, offering fast transactions, scalability, and low costs. In this article, we will focus on the top 3 altcoins building on Arbitrum and explore the value these projects bring and their price potential.
GMX: The Perpetual DEX
GMX is a perpetual decentralized exchange (DEX) that allows users to trade futures with up to 50x leverage. Unlike traditional futures contracts, perpetuals do not have an expiration date, allowing traders to speculate on asset prices indefinitely. GMX is gaining popularity in the crypto space, particularly among spot market traders looking to leverage their positions. The platform uses three tokens: GMX for utility and governance, GM for liquidity provision in GMX V2 markets, and GLP for liquidity provision in GMX V1 markets.
Radiant Capital: Cross-Chain Lending Protocol
Radiant Capital is a cross-chain lending protocol available on Arbitrum, Binance Smart Chain (BNB), and Ethereum. It allows users to earn, borrow, and stake assets on the platform. Radiant Capital ranks #8 in TVL on Arbitrum and offers leverage options. The latest version of Radiant Capital (V2) introduces features such as Dynamic Liquidity (dLP), RDNT token emissions, platform fee shares, and voting power for the Radiant DAO. The platform also offers a “1-lock & loop” feature for collateral value enhancement and a zap function for simplified trading.
Treasure: Blockchain Gaming on Arbitrum
Treasure is a decentralized gaming ecosystem built on Arbitrum, integrating NFTs, DeFi, and GameFi. As the decentralized version of Nintendo, Treasure aims to tap into the growing gaming industry, which is projected to reach a value of $682 billion by 2030. The platform’s native token, MAGIC, powers the ecosystem and can be earned through gameplay. Treasure also offers staking options and MAGIC-infused assets called “Treasures” with various use cases in its games. MAGIC is available on major exchanges like Binance and Coinbase.
Hot Take: Promising Project – Alaya
In addition to the top 3 projects on Arbitrum, Alaya is worth mentioning. Alaya is a distributed AI data platform that focuses on data collection, labeling, and AI training. It offers a gamified AI data training platform and prioritizes user privacy. This project brings an interesting combination
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