Arbitrum rose parabolically to a new ATH. It’s time to discover the best promising projects in your ecosystem. As we explore the Arbitrum ecosystem, some altcoin projects emerge that have the potential to outshine others. Whether due to their creative solutions, user involvement or practicality, these projects shape the trajectory of the future. Crypto expert Abhay H from the Altcoinbuzz team draws attention to 4 Arbitrum coins.
The top Arbitrum coin is Kenshi (KNS)
Kenshi develops products specifically designed by and for developers. In close collaboration with a network of partners and protocols. Kenshi helps the builder community overcome complex challenges. Kenshi’s ecosystem facilitates the creation of data flows between blockchain and off-chain data sources. With its dashboards and APIs, developers can unlock new possibilities in Blockchain and enable seamless interaction between external dApps and Blockchain data.
Unchained is a decentralized, peer-to-peer network for data verification. In this system, Unchained nodes cooperate to verify data. Thus, they receive rewards with KNS tokens. Consumers can then query verified data in exchange for KNS tokens. Unchained thus becomes an economically autonomous platform for data verification and exchange.
In second place is MUX Protocol (MCB)
Mux Protocol is a comprehensive suite of protocols meticulously crafted to provide traders with an unparalleled trading experience. The protocol achieves this by consolidating liquidity and benchmarking all underlying continuous decentralized exchanges (DEXs). Ultimately, it provides investors with the most suitable position. At the heart of Mux is the first decentralized perpetual trade aggregator known as the MUX Perpetual Aggregator. This innovative tool offers traders deep batch liquidity, cost-effective trading, up to 100x leverage, a range of market options and distinctive features such as intelligent position routing, batch position monitoring, leverage enhancement and liquidation price optimization.
MUX Perpetual Aggregator is seamlessly integrated with leading perpetual liquidity sources such as GMX (V1+V2), Gains and MUX native pool. Protocol, Arbitrum, Optimism, Avalanche, BNB, Fantom etc. Compatible with multiple Blockchains including. The protocol’s tokenomics include four tokens: MCB, MUX, veMUX, and MUXLP. MCB serves as the protocol’s primary token. Users can lock the MCB and receive veMUX in return, gaining access to protocol revenue and MUX rewards. Over the past few months, MUX Protocol has experienced significant growth. Additionally, it has established itself as one of the top-tier perpetual DEXs.
The third Arbitrum coin is Timeswap (TIME)
Timeswap stands out as a pioneer in oracle-free lending and borrowing protocols that facilitate the creation of money markets for ERC-20 tokens. Inherent in its design, Timeswap ensures that all loans are non-liquid and fixed maturity and operate completely without oracles. This unique approach eliminates common risks associated with oracle manipulation in DeFi.
Timeswap currently operates on platforms such as Arbitrum, Mantle, Polygon PoS, Polygon zkEVM and Base. The altcoin project is in the development phase of launching the native TIME token, which improves the governance of the protocol with the active participation of community members. This token will enable active participation within the decentralized network. Additionally, users will have the option to acquire this token to engage in providing liquidity through a special liquidity mining event.
Dolomite is in last place
Dolomite is a dapp that facilitates reliable trade settlement and provides over-collateralized loans. It distinguishes itself by avoiding taking custody of users’ funds. It also provides features such as spot settlement through AMM pools and margin trading using on-chain liquidity. Dolomite, in particular, is good at offering over-collateralized loans, margin trading and similar financial instruments. With a broader vision, Dolomite aims to evolve into a central hub for DeFi activities.
In May 2023, Dolomite raised $2.5 million in a funding round. This round was led by Draper Goren Holm (DGH) and NGC Ventures. Additionally, it has forged strategic partnerships with industry leaders such as ChainLink, Harvest Finance, and Arbitrum. These further enhance Dolomite’s capabilities. Additionally, Dolomite distinguishes itself from other lending protocols with the assets it supports and the features it offers to optimize user engagement.
Meanwhile, Dolomite recently introduced vARB, a token designated for “vote-enabled ARB” that allows holders to participate in governance voting on the Arbitrum network. Dolomite plans to keep vARB in “isolation mode” within the protocol. It also allows users to use it specifically for voting on Arbitrum. This is a functionality not available with ARB tokens locked in liquidity pools for lending and borrowing. Because traditional ARB tokens locked in various DeFi protocols such as Aave or Compound lack the necessary capacity for governance voting.
A key advantage of vARB is its flexibility, as users can convert their ARB to vARB. This allows them to use the same tokens for voting and lending/borrowing. Additionally, it is possible for vARB holders to leverage their tokens to increase the weight of their votes.
The opinions and predictions in the article belong to the expert and are definitely not investment advice. cryptokoin.com We strongly recommend that you do your own research before investing.
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