KOL The DeFi Investor has reviewed the latest developments in the Arbitrum ecosystem, including new tools developed for the Arbitrum Orbit chain, as well as several potential promising projects built on and integrated with the Arbitrum ecosystem, such as XAI, Mufex, and Aura.
Offchain Labs has released tools to make building on the Arbitrum Orbit chain easier. Orbit is a platform for building and deploying L3 chains on top of Arbitrum One and Nova. With the new tools, deploying an L3 chain can be completed in as little as 5 minutes. The more traction these L3 chains gain, the higher the revenue for Arbitrum. As L3 settlements are on Arbitrum One/Nova, L3s must pay transaction fees like other L2 users.
Vela Exchange has officially launched, offering dozens of trading pairs and up to 250x leverage for cryptocurrency, forex, and stock trading. Within the first 5 days of launch, Vela’s total trading volume surpassed $90 million. Vela is currently running a Hyper VLP 2.0 incentive program to reward long-term LPs.
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Offchain Labs is making a big bet on gaming, as they develop XAI. XAI is an L3 blockchain built on top of Arbitrum for building Web3 games. Its feature is wallet abstraction, which simplifies the process of players entering the Web3 gaming ecosystem. The XAI team has hinted at potential rewards for early contributors.
Syndr Chain is a specific application L3 built on top of Arbitrum, providing power to Syndr’s order book-based derivative DEX, allowing users to trade without paying transaction fees. The largest perp DEX on BNB Chain, Level Finance, has launched on Arbitrum, with its main differentiating feature being liquidity pools with different risk characteristics for LPs.
Mufex is a perp DEX based on order book, designed to combine the advantages of CEX and DEX, and has already launched on Arbitrum. Mufex’s feature is providing separate margin and cross-margin modes. Aura is a yield optimizer built on top of Balancer, working similarly to Convex for Curve. Aura has joined the Arbitrum ecosystem.
Reference: https://twitter.com/TheDeFinvestor/status/1676236297684262914
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