The Arbitrum ecosystem welcomes spring, sharing 8 emerging DeFi projects worth关注

Author: Jiang Haibo, PANews

DeFi projects on Arbitrum are experiencing a resurgence, with native projects such as the derivatives platform GMX, the DEX Camelot, and the lending platform Radiant attracting significant attention. What other DeFi projects on Arbitrum are worth noting? PANews has selected some emerging projects that meet at least one of the following criteria: short launch time, rapid data growth, or not yet having issued tokens. The following data is sourced from February 16.

Zyberswap

Link: https://www.zyberswap.io/

Zyberswap is a DEX that launched in late January. Its token experienced a death spiral close to zero at the end of January. However, thanks to the revival of DeFi on Layer 2, the APR for the ZYBER-ETH pool and ZYBER-USDC pool has recently approached 2000%, and the price of ZYBER has maintained a stable and upward trend. With the TVL of Camelot, the leading DEX on Arbitrum, only at $62.73 million and an FDV as high as $300 million, there may still be room for development in the DEX sector.

In terms of products, Zyberswap also features a Uniswap V2 + Curve type DEX and Launchpad, but its token does not have the complex locking mechanism of Camelot. The trading fee for non-stablecoin pools is 0.25%, with LPs receiving 0.15%, and users who lock ZYBER can share a portion.

Currently, Zyberswap's TVL is $90 million, surpassing Camelot.

SolidLizard

Link: https://solidlizard.finance/

A DEX forked from Solidly. With the support of renowned DeFi developer Andre, Solidly once boasted over $2 billion in liquidity, but it has been on a downward trend since Andre announced his exit. Currently, the ve(3,3) model has achieved good results on Optimism's Velodrome and BNB Chain's Thena.

SolidLizard has also begun to make strides on Arbitrum, with a current TVL of $34.69 million, rising 158% in the past 24 hours. In projects of the ve(3,3) type, liquidity providers typically do not have a strong incentive to stake the DEX's native tokens. However, in SolidLizard, staking SLIZ tokens will also enhance the mining rewards for liquidity providers, representing a small improvement in terms of tokens.

GMD Protocol

Link: https://gmdprotocol.com/

GMD Protocol is a yield optimization and aggregation platform that employs a delta-neutral strategy to generate returns, with half of the earnings reinvested and the other half allocated as protocol revenue to stakeholders of the governance token GMD.

GMD splits the assets in LP tokens into single assets, allowing different users to deposit, and then uses LP tokens to generate returns, thereby making the risks for different depositors close to delta-neutral.

For example, regarding the strategy for GLP, depositors can contribute any of the three assets: WBTC, ETH, or USDC. Since each asset's Vault is set with limits based on the composition of GLP's assets, it can simulate the asset proportions of GLP. For single asset depositors, this strategy is close to delta-neutral.

Recently, GMD's TVL reached a new high, increasing by 78% in the past week.

Gammaswap

Link: https://gammaswap.com/

Gammaswap allows traders to leverage long volatility or hedge against impermanent loss, creating an intermediary layer between users and AMMs. Liquidity providers can supply liquidity through supported AMMs and deposit LP tokens into Gammaswap. Those needing to hedge against impermanent loss can use one asset in the LP as collateral, leverage borrow LP positions, and separate LP into a single token, paying interest; liquidity deposited in LP can earn deposit income. If volatility is high and impermanent loss is significant, the strategy of separating into a single token will profit.

Gammaswap is seeking collaborations with numerous DeFi projects and has initiated proposals within the OlympusDAO community, mentioning that the annual APR for providing liquidity for the OHM/ETH trading pair is about 1.35%, but impermanent loss is around 2.1%, leading to potential losses from providing liquidity. Therefore, Gammaswap proposes to deposit 1% of the liquidity owned by the Olympus protocol ($500,000) into Gammaswap for higher returns. The project has received a grant from Balancer, has funding, and has not yet issued tokens.

WINR Protocol

Link: https://winr.games/

WINR Protocol is a project designed for on-chain liquidity and incentives, building a liquidity pool WLP based on GLP, which includes 50% DAI, 35% ETH, and 15% WBTC.

Developers of other projects can also integrate their games into WINR's liquidity pool through WINR DAO proposals, providing direct payments for gamers. Users providing liquidity are essentially the counterparties for these gamers.

For example, a leveraged long/short game can provide collateral and trade through WLP. WINR generates tamper-proof random numbers through decentralized oracles, making it suitable for other gambling games, and the team is also developing Justbet within the WINR ecosystem.

WINR Protocol will have its IDO on Camelot on March 6.

Nitro Cartel

Link: https://nitrocartel.finance/

The Nitro Cartel team plans to build an index product called Arbitrove within the Arbitrum ecosystem, providing risk exposure to a basket of Arbitrum native assets.

The first product of Arbitrove is the ALP index, which includes governance tokens from leading projects in the Arbitrum ecosystem such as GMX, MAGIC, GRAIL, DPX, JONES, RDNT, and GNS.

Users can mint ALP with ETH as the principal and stake ALP on Arbitrove to earn esTROVE. Arbitrove earns returns through liquidity mining with underlying assets and distributes them to users.

Arbitrove will have its IDO on Camelot from February 17 to 20.

Perpy Finance

Link: https://www.perpy.finance/

Perpy is a copy trading system for GMX. Any trader can create a Trading Vault in Perpy, bind their wallet address and Twitter account, and share it on Twitter to attract followers. Those who choose to follow can deposit funds into these Trading Vaults, and the creator uses these funds to trade on GMX, earning a performance fee. Each Trading Vault is equivalent to a fund, and the trader who creates the vault acts as the fund manager.

Currently, Perpy Finance's product has launched, with a total trading volume of only $1.85 million. Perpy's native token PRY will have its IDO on Camelot on March 16.

Factor DAO

Link: https://www.factor.fi/

Factor is an on-chain asset management platform that aims to become a liquidity aggregation layer, unifying the fragmented DeFi market.

Any project or individual can act as an asset manager and create Vaults on Factor. Investors can deposit funds into these Vaults with one click to earn returns. Asset managers earn returns through set strategies, such as creating indices with a basket of assets, yield strategies, or derivatives.

Currently, Factor's product has not yet launched, and the project token FCTR will have its IDO on Camelot from February 20 to 24.