1.Synthetix： OP native giant with rich ecosystems
Synthetix officially announced the launch of Optimism in July 2021, which is one of the earliest DeFi projects on Optimism. Its TVL once reached $200 million, accounting for nearly 45% of Optimism’s total TVL of over $500 million. Although the current TVL has dropped to $141.85m, it is still the second-ranked project in the OP ecosystem. In addition to Optimism, the blockchain currently supported by Synthetix is Ethereum only. In addition to the protocol itself, Synthetix’s ecosystem projects Kwenta, Lyra, Thales, and dHEDGE have also gone live on Optimism.
Users can mint USD stablecoin sUSD by over-collateralizing their native token SNX, and trade synthetic assets including sETH, sBTC, or even precious metals such as gold and silver in traditional financial markets, and stocks of well-known U.S. listed companies.
How to use it with BitKeep
1）Tap [DApp], search for “Synthetix” and tap [Confirm] to enter the landing page of DApp;
2）Find “Trade Now” according to the instructions on the DApp page, then you will be able to access the trading pairs and view real-time charts.
Velodrome positions itself as a public product modeled on Solidly, hoping to build a major trading and liquidity market on Optimism, and integrates Solidly, Curve, Olympus DAO, Votium such as veToken (governance token, NFT form) as well as features like the game theory, while optimizing the rules of token distribution, release and incentives to help a better flow towards the most valuable ecosystem liquidity pools.
The core function of Velodrome is to allow users to exchange digital assets with reasonable prices and low slippage, and to provide two types of liquidity pools, Stable Pools and Variable pools, according to the demand for token pairs. The protocol router will evaluate two types of pools to determine the most efficient quotes and available trade execution routes.
Other features of Velodrome include:
- A 0.02% transaction fee; （Curve 0.04%，Solidly 0.01%）
- Can be used for voting and governance in the form of NFT;
- veVELO voters will obtain all the fees generated from the pool;
- veVELO investors who lock their positions will obtain Rebase every week;
- The acceleration rules of LP are abolished and a fair staking environment is provided for veVELO voters and Velodrome LP providers;
- Some whitelisted tokens are accepted in advance.
The initial supply of VELO is 400 million. In terms of token distribution, Velodrome will distribute up to 60% of the tokens to the community on the first day of launch (the snapshot has been completed); 24% of the tokens will also be allocated to the partnership protocol and DAO; 10% to the Velodrome team; 5% to the Optimism team and another 1% to the Genesis liquidity pool.
How to use it with BitKeep
1）Tap [DApp], search for “Velodrome” and select [Optimism] mainnet. Tap [Confirm] after viewing the risk warning;
2）Connect to the wallet’s address after accessing the landing page of DApp. You will be able to use Swap transactions and other interactive functions like Pools;
3.Perpetual Protocol： a decentralized perpetual contract agreement （TVL：$22.58m）
Perpetual Protocol is a decentralized perpetual contract protocol. Its V1 version adopts the design of virtual AMM (vAMM) pricing, which is able to execute perpetual contract trading without the need for market makers to provide liquidity, and market makers don’t necessarily have to serve as counterparties.
At the end of June, Perp announced the V2 version built on the Ethereum Layer 2 network with Uniswap V3-style aggregated liquidity as the core.
Perpetual Protocol launched its OP liquidity mining program Pool Party in July 2022. The goal is to incentivize and improve the liquidity of the Perp v2 system.
Pool Party is currently distributing 27,000 OP every week from LPs in the Perp v2 ETH market, 5,000 OP from LPs in AAVE, BNB, BTC, FLOW, and PERP markets, and 3,000 OP from LPs in the remaining markets.
To profit from these distributions, simply head to the Perp v2 App, deposit liquidity into your preferred market and collect your OP rewards on every Monday distribution.
Perpetual Protocol issued the governance token PERP. In addition to governance, the main purpose of PERP is focused on its staking ability within the protocol. This turns the token into a productive asset, as holders can earn an income in the form of PERP rewards, and in the future, once the protocol enters the “second phase” of staking, holders will be able to earn part of the transaction fee generated.
Although only token rewards are currently honored, investors can still earn profits and can view the current annual interest rate in the DApp.
How to use it with BitKeep
1）Tap [DApp], search for “Perpetual” and select [Optimism mainnet]. Tap [Confirm] after viewing risk warnings;
2）Tap “Markets” after connecting to the wallet, select tokens and enter the chart to trade; you can also try more functions like Pools.
4. Lyra: an options AMM protocol （TVL：$21.25m）
Lyra Finance is the first option AMM protocol deployed on top of L2 Optimism and is also one of the projects in the Synthetix ecosystem of synthetic assets. In response to the high risks and poor liquidity issues of the existing DeFi option protocols, Lyra proposes to actively manage these issues and reduce the risk of LP liquidity providers, as well as improve the liquidity of automated market makers.
Lyra introduces the Black Scholes Model, an option pricing model of traditional finance, which refines the risk in options trading, and lowers the risk of liquidity providers through active management, therefore improving the liquidity of protocols.
At the same time, in order to open up with the spot market, Lyra chose to interact with Synthetix to achieve exposure to the underlying assets of liquidity providers to hedge the Delta risk, which is quite common to current DeFi options products. Specifically, Lyra will automatically execute long and short positions on the corresponding assets of the liquidity provider.
$LYRA token with a total supply of 1,000,000,000. The distribution is as follows:
- 50%，community and other purposes
- 20%，Lyra DAO
- 10%，investors, with an average token price of 0.04$ for three rounds; locked until January 1, 2022, with linear unlocking for 2 years.
In addition to community governance rights, LYRA can also be used as collateral to help strengthen the platform security in the Security Module (a backup pool that Lyra reserves on the mainnet to guard against Optimism issues), and other functions are yet to be developed.
The first round of airdrop was held on December 14, 2021. Early-stage community participants and Ignition participants can get a total of about 6.1% of $LYRA. At the same time, a one-month liquidity mining LYRA/ETH was launched on Optimisitc Uniswap, and a total of 1,000,000 pieces of $LYRA were awarded.
It is currently not available in the DApp market of BitKeep and will cooperate with Lyra Finance to go live in the future.
5.Pika protocol: a native Defi perpetual protocol （TVL：＄9.16m）
Pika Protocol is a stablecoin protocol backed by decentralized derivatives, mainly composed of Pika Exchange. The Pika protocol has now been updated to the second-generation version, and Pika V1 is currently unavailable. V2 is more stable, secure and efficient than V1, and it is better suited to the Optimistic mainnet.
Pika Exchange is a perpetual contract exchange that supports leveraged trading, and it supports token-based inverse perpetual swaps.
The Pika protocol is a layer2 decentralized perpetual exchange of Ethereum with certain characteristics. Currently, the upgraded Pika V2 running on Optimistic has the following basic characteristics:
- High leverage: up to 50X leverage;
- Profound liquidity: equivalent to that of the top perpetual exchanges;
- Unlimited tradable assets: from cryptocurrency to commodities and ETF, etc;
- Compositional: able to combine with DeFi.
On August 30, Pika Protocol announced its distribution plan for 900,000 OP tokens:
150000 OP rewards will be distributed to traders, of which 30% goes to early traders of the protocol and 70% to future traders;
600000 tokens will be distributed to liquidity providers, of which 20% goes to early users and 80% to future users;
150,000 OPs will be distributed as grants, of which 10% go to early contributors and 90% to future rewards. The 45,000 (30% of 150,000) OP rewards for early supporters have been snapshot on July 16, 2022. All traders who paid a $10 transaction fee or more prior to that date will be eligible and will be rewarded with 0.306 OP for every 1 USDC fee paid. The reward amount is up to 306 OPs.
How to use it with BitKeep
1）Tap [DApp] and search for “Pika”. Select [Optimism] mainnet and tap [Confirm], tap [Start Trading] after accessing the landing page;
2）Select a trading pair to trade options, or you can try functions like cross-chain bridges and liquidity addition for interaction.