For this week’s Wealth Mastery Altcoin Review, it’s time to dig deeper into the Arbitrum Network. With a new flourishing ecosystem growing, finding the best places to invest those free ARB tokens is essential. Learning how to maximize our free ARB airdrop is this month’s Altcoin Gems “Arbitrum Edition.”
Why Arbitrum?
Arbitrum has captured the hearts and minds of the DeFi community, holding the torch for the fastest-growing project in the last year. No other protocol has been able to gain as much value as quickly since its launch.
Arbitrum was designed around the Ethereum Software stack and has organized itself into a Decentralized Autonomous Organization to revolutionize the workflow. While most projects only distribute a small number of tokens to the general public. With the AI buzz and ChatGPT being the center of attention so far this year. Meanwhile, NFTs and a lot of other things have been quietly building. That was until Arbitrum Airdropped more than four times what participants on Avalanche received. Making it worth knowing that Arbitrum has quickly captured double the Total Value Locked on Polygon, Optimism, and Avalanche. Leaving Ethereum, BNB Chain, and Tron as the only three protocols with more value accumulated. As part of Arbitrum’s network model, we’ll see them distribute more than forty percent of all ARB tokens to projects supporting its ecosystem. Making it harder for other networks to compete. By supporting the best Arbitrum products, you’ll earn a share of that massive DAO distribution and work Arbitrum into your crypto toolbelt.
To be fair, we’ll only mention Altcoins exclusive to Arbitrum. Without this, we’d only discuss Altcoins you already know about, and this report aims to introduce you to new products that aren’t on your radar yet. Another key factor in looking at this new ecosystem is finding projects that consistently gain value. After the release of ARB, if everyone in the protocol is cashing out, we don’t want to risk losing our investment and becoming someone else’s exit liquidity. DefiDad has already sent everyone in the right direction with guides for Trader Joe and Radiant. So let’s find out where else we can put our ARB to work.
Vela Exchange
- Ticker: VELA
- Market Cap: $40 Million
- Total Value Locked: $50 Million
- APY: 43%
- Type: Derivatives Exchange
- Launched: Q4 2022
Vela is a new DEX built for Arbitrum that offers users perpetual trading capabilities with community-focused incentives. Vela has some serious potential to be one of the largest projects on Arbitrum due to its inclusion of perpetual swaps. If you didn’t know, GMX dominates as one of the most used derivatives markets in terms of value locked on the protocol. Vela has gained ground rather quickly to become the third-largest derivatives exchange in the market. Formally called DexPools, the project was focused only on reliable over-the-counter trading through decentralized trading pools. With so much happening in the DeFi world, Vela decided to expand and upgrade after identifying the need for perpetual swaps and limit orders on Arbitrum. Wanting to provide a better DEX experience than what is currently available. A big focus when developing Vela was to increase performance and remove the ability of bad actors to game the system through front-running by enabling timed…
Jesse is a passionate seeker of truth who enjoys educating others about Bitcoin.
As a free thinker and 2nd amendment advocate, Jesse believes each individual has the right to monetary freedom.
“The swarm is headed towards us” -Satoshi Nakamoto
