While meme season has sucked a lot of liquidity from the market, let’s not forget about those projects with strong fundamentals. Fungi Alpha author 0xFlips lists six fundamentally sound projects and their current performance and upcoming strong catalysts.
1) Lybra Finance, which is about to become a full-chain LSD protocol, supports LSD’s interest-bearing stablecoin at a 1:1 ratio. The TVL of $LBR reached 85 million USD in the first month, and so far, 43 million USD of interest-bearing stablecoin eUSD has been minted. Its V2 version is under development, which will integrate LayerZero and switch from ERC to OFT to support the entire chain and a wider range of LSD/LST assets to mint eUSD. Token economics will be upgraded to balance emissions and burns. 2) Vela Exchange, a perpetual DEX based on Arbitrum, will officially launch in two weeks and introduce VLP 2.0, rewarding the first 30 million VLP minted and improving the trading terminal.
3) Metavault.TRADE, a perpetual and binary options platform, currently has professional trading functions on Polygon and will deploy tokens on zkSync Era and officially launch. Its binary options product collaborates with Buffer Finance and is the first protocol on Polygon to offer this service, with a complete ecosystem growing. 4) GMX, with a TVL of over 550 million USD, accounts for over 20% of the total TVL on Arbitrum. The V2 version with synthetic assets will improve fund efficiency and reduce risks for GLP farmers. Chainlink is its exclusive partner for oracles.
- SharkTeam: On-chain Data Analysis of Sui Mainnet
- How to defeat the “magic” of “AI face-swapping” scam that defrauded 4.3 million using the power of law?
- How to find and track whale wallet addresses
5) Level Finance, a decentralized and non-custodial perpetual DEX on BSC, has achieved a total trading volume of 15 billion USD, accrued fees of 19 million USD, and 25,000 users in the past few weeks. Its fees and revenue are still one of the best in the field, performing better than GMX in the past seven days. Most importantly, they will launch on Arbitrum soon, and projects ported to Arbitrum often see a comprehensive increase in numbers. 6) GMD Protocol is known for its yield optimization and aggregation platform built on GLP, with a current TVL of about 12 million USD. Recently, it launched LaunchBlockingd, and the first project is Ghast Protocol, both of which have performed well since their launch.
Reference: https://twitter.com/0xflips/status/1661837308197494788
Like what you're reading? Subscribe to our top stories.
We will continue to update Gambling Chain; if you have any questions or suggestions, please contact us!