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Learn about the Arbitrum ecosystem

In the field of OP Rollup, Arbitrum and Optimism have gradually topped the first and second place: the current TVLs of Arbitrum and Optimism are $2.14B and $1.37B respectively, which together account for nearly 80% of the entire L2 TVL.

At the beginning of September, throughput increased and the gas fee for users was reduced after the Arbitrum Nitro network upgrade was completed. Within 5 days after the upgrade, the total transaction volume on Arbitrum skyrocketed by 79.2% compared to the previous 5 days, while the total cumulative gas consumption of Rollup decreased by 47.8% during this period. Growth in its trading volume and the impending resumption of Arbitrum Odyssey (and a potential token offering) could boost further growth in the DeFi ecosystem of Rollup.

According to incomplete statistics, the Arbitrum ecosystem portal has listed more than 170 projects. After re-optimizing the classification, it was found that Arbitrum One mainnet was launched half a year before Arbitrum had gradually taken shape, with about 60 projects related to exchanges, payment gateways, bridges, and cross-chain; nearly 40 DeFi applications are mainly distributed in derivatives, AMM and revenue optimization; in addition, in terms of NFT, TreasureDAO plays a leading role in the three NFT markets. The NFT series in Bridgeworld, a metaverse game under TreasureDAO is quite popular, while most other NFT projects lack constant market attention; there are also more than 30 tools, infrastructure, and node providers that support Arbitrum.

1.GMX: a decentralized perpetual futures exchange (TVL:$346.3m)

GMX is a decentralized perpetual futures exchange that supports Arbitrum and Avalanche chains. It allows a maximum leverage multiplier of up to 30 times and rewards all transaction fees to those who stake their tokens in the form of ETH or AVAX.The GMX exchange uses two separate tokens: GMX and GLP.GMX tokens are used for governance and holders will receive 30% of network fees; GLP generates 70% of network fees and is a liquidity provider token. Users can only mint GLP on the GMX network by filling liquidity into the pool, which makes GLP’s performance dependent on the proportion of assets in the liquidity pool.

How to use it with BitKeep

1)Tap DApp, search for “GMX”, select Arbitrum, and tap Confirm.

2)Access the landing page of GMX and tap Trade and Connect Wallet. You will be able to experience various trading functions of GMX after connection.

2.Dopex: a decentralized European-style options trading platform (TVL:$20.57m)

Dopex is a decentralized European-style options trading platform and one of the native projects on Arbitrum. Dopex has a unique single-currency collateralized option base (SSOV), interest rate options, and Atlantic options. The algorithm stablecoins for collateralization will be issued in the future.

For beginner users who are not familiar with options, they might have never heard of Delta, Gamma, Theta, Vega and other concepts, or even have no idea about what options are, but they can still sell options through SSOV to get premium dividends and DPX dividends without risks. Dopex helps users solve the most difficult pricing problems when trading options.

Regular option sellers need to consider pricing issues, which requires calculating Delta, Gamma, Theta and Vega of the corresponding options, as well as carrying out reasonable modeling to ensure the maximization of their profits. The process is sophisticated and requires high proficiency and that is exactly why options have always been considered a high threshold. However, SSOV has lowered this threshold considerably, and automatically helps LPs price options via its own BS method.

For example, if you are holding some ETH, then simply lock ETH to the SSOV bullish pool at the same time, and set the highest strike price, so that it is easy to be considered as an ETH stake-to-earn product and the locked time is shorter than that of ETH PoS while the profit will not be reduced. At the same time, with the Atlantic options mentioned and the composability of DeFi, the maximum capital utilization rate and yield can be achieved (don’t forget that the collateral for the bearish SSOV is the Curve 2pool, which can also help you earn CRV).

Of course, you can also directly use JonesDAO and other projects in the dopex ecosystem for automated option investment if you prefer shortcuts.

Dopex adopts a “Dual-token Model” to best capture the value of the protocol. DPX is the governance token of the Dopex protocol and is used to vote on any governance proposals of the Dopex protocol. In addition, all kinds of fees generated by the Dopex platform will be distributed to DPX holders through a veTokenomics system (veDPX tokens: users get veDPX tokens by locking DPX tokens, and with these veDPX tokens, users can earn Dopex’s platform transaction fee).

How to use it with BitKeep

1)Tap DApp and search for “Dopex”, select Arbitrum mainnet and tap Confirm.

2)Tap Launch App and connect to the wallet’s address, then you will be able to trade options with multiple functions.

3)You can find the menu in the right column, simply select SSOV options or Farms to trade.

3.Vesta Finance:a lending protocol (TVL:$19.86m)

Vesta is a lending protocol forked from Liquity. The project was incubated by OlympusDAO, and gained investment as well as consultancy services from 0xMaki, DCFGod, Lau brothers, etc. The project will go live on February 9, 2022. Vesta allows users to stake a variety of decentralized assets, including popular Arbitrum-based tokens such as GMX and DPX, to mint stablecoins with 0% interest.

Governed by the VSTA token, the project has a market capitalization (MC) of $5.8 million and a fully diluted valuation (FDV) of $77.9 million.

Unique features of Vesta

1. Various collaterals: ETH/renBTC/gOHM can mint stablecoins, and Liquity only supports ETH as collateral;

2. Higher collateralization rate for gOHM: 175%. Liquity’s ETH collateralization rate is 110% under normal mode;

3. Flexible community governance: more than 50% of the governance token VSTA is allocated to the community, and the rate can be modified through governance, liquidation incentives, etc. None of these can be modified in Liquity.

4. Deployed on Arbitrum, and will be deployed to multiple chains in the future. Liquity only supports Ethereum

How to use it with BitKeep

1)Tap DApp, search “Vesta” and select Arbitrum mainnet, then tap Confirm.

2)Access the App, you will be able to stake and borrow loans after connecting to the wallet.

4.Radiant Capital: a multi-chain lending protocol (TVL:$51.31m)

Radiant Capital is a lending protocol that is similar to Aave or Compound. According to Radiant Capital’s official introduction, its goal is to become the first full-chain currency market, where users can deposit any major asset on any mainchain, and then lend or borrow across multiple chains.

Radiant aims to be the first full-chain currency marketplace where users can deposit any major asset on any main chain and can borrow a variety of supported assets across multiple chains. Radiant’s primary goal is to consolidate the $22 billion of decentralized liquidity currently scattered across the top ten alternative layers. Its protocol uses RNDT tokens to incentivize borrowers and lenders. The RNDT earned has a vesting period of 28 days at the beginning. If it is withdrawn in advance, a 50% penalty will be charged. You can also “lock” RNDT for a short period and receive a 50% penalty fee from investors who end the lock-up period in advance, as well as a portion of the protocol fee generated.

The protocol is currently not available in the DApp market of BitKeep and users can execute the protocol on the official website: https://app.radiant.capital/#/markets

5.Mycelium(Tracer DAO): decentralized derivatives (TVL:$19.03m)

Mycelium (Tracer DAO) is a decentralized derivatives protocol built on Ethereum that provides custodial services of contracts for any protocol with oracle price feeds and ERC20 tokens.

It can be deployed by using financial derivatives as a brand-new, permissionless, transferable token while permanently immune to liquidation. Anyone can start a derivatives market centered around any asset and run it in a decentralized way. Mycelium (Tracer DAO) provides a combinational product on the chain that has the characteristics of both synthetic assets and leveraged tokens. Any asset (even NFT) can be synthesized via Perpetual Pools, which serves as its current core function. In addition, it can exist permanently without maintenance and also supports combinational expansion with other protocols.

On February 10, 2021, Tracer DAO accepted Mycelium’s offer to become a core DAO service provider and contributor. Product development and community talent acquisition were handled by Mycelium, and key product deliverables were secured: the V2 launch of tilted agricultural vaults, audits, and perpetual pools. Mycelium can be considered a constant development engine of Tracer.

Mycelium is a long-term contributor to the DeFi ecosystem and was one of the first verified Chainlink Oracle nodes established in 2019. Another part of it is KOJI Capital, which has invested in a lot of DeFi infrastructure.

How to use it with BitKeep

1)Tap DApp, search for “Tracer DAO” and select Arbitrum mainnet, tap Confirm; The project name has been changed but you can still search Mycelium to find it;

2)Choose a trading pair, leverage multiplier, and trading value after connecting to the wallet; find out more to experience on the upper right menu.

6.CAP: a synthetic asset leverage trading platform (TVL:$7.06m)

CAP (Cap Finance) is a synthetic asset leverage trading platform that allows users to trade any synthetic asset such as stocks, ETFs, cryptocurrencies, securities and commodities using stablecoins such as DAI, USDT and USDC. The project team plans to support all US Stocks (5000+), all FX trading pairs (200+), and all cryptocurrencies and commodities when the product is released. Cap adopts the AMM automated market maker model (formula pricing).

How to use it with BitKeep

1)Tap DApp and search for “CAP”, select Arbitrum mainnet and tap Confirm.

2)Tap Trade, fill in the transaction details and kick-start your leverage trading.

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