• 14 July, 2024
News

Lark Davis Highlights Top 6 Projects on Ethereum’s Largest L2 Solution

Twitter crypto personality Lark Davis has highlighted Arbitrum, Ethereum’s largest Layer 2 (L2) solution’s top six projects that could save users money. In a recent tweet, Davis noted that using Arbitrum feels just like using Ethereum, and with an average swap cost of $0.16 compared to Ethereum’s $4.88, it’s a more affordable option.

Arbitrum’s top six projects offer a wide range of DeFi services, including DEX, gaming, lending, and NFTs, with a lower transaction cost than Ethereum. These projects could be an attractive option for crypto enthusiasts looking for affordable and innovative solutions on Ethereum’s L2.

At the top of the list is GMX.IO, which is the largest decentralized exchange (DEX) on Arbitrum. With 30% dominance of all DeFi total value locked (TVL) on Arbitrum at $500 million, GMX has $104 billion in total trading volume and 225,000 users. On GMX, users can swap, long, or short WBTC, ETH, and other cryptocurrencies with leverage of up to 50X.

Zyberswap is the second-largest native DEX on Arbitrum, with $112 million in TVL. The platform offers a clean, futuristic user interface and a wide range of swap combinations, along with yield farming and staking opportunities.

Treasure DAO, the largest native gaming and non-fungible token (NFT) protocol on Arbitrum, is worth $440 million. Players on Treasure connect through shared games, NFTs, and the MAGIC currency, which is among the top 100 coins.

Radiant, a decentralized lending protocol, has $76 million in TVL, allowing users to take loans when they deposit collateral. Borrowers can currently borrow WBTC, ETH, USDC, USDT, and DAI. Depositors can also receive attractive returns on their deposits.

CamelotDEX, the fourth-largest native Arbitrum DEX with $62 million in TVL, is worth watching. Camelot hosts the largest selection of swap tokens, with yield farming opportunities and staking GRAIL providing additional earning opportunities.

Finally, Opensea, the largest NFT marketplace in the crypto economy, is also available on Arbitrum, and with the same fluid experience as on Ethereum. This means users can stack their NFTs high and save a lot of money.

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