Arbitrum ecosystem ushers in spring, sharing 8 emerging DeFi projects worth paying attention to

DeFi projects on Arbitrum are enjoying a new spring. Among the native projects, GMX in the derivative category, Camelot in the DEX category, and Radiant in the lending category have attracted a lot of attention. What other DeFi projects on Arbitrum are worth paying attention to? PANews has selected some emerging projects that meet at least one of the following conditions: short launch time, fast data growth, and no token issuance. The following data are all taken from February 16.
 Zyberswap
Link: https://www.zyberswap.io/
Zyberswap is a DEX that was launched in late January. Its token had a death spiral to near zero at the end of January. However, thanks to the recovery of DeFi on Layer2, the APR of ZYBER-ETH pool and ZYBER-USDC pool has been close to 2000% recently, and the price of ZYBER has maintained a stable and rising trend. On Arbitrum, the leading DEX Camelot has a TVL of only $62.73 million and a FDV of $300 million. There may still be room for development in the DEX track.
In terms of products, Zyberswap also has a Uniswap V2 + Curve type DEX and Launchpad, but the token does not have the complex lock-up mechanism of Camelot. The transaction fee of the non-stable currency pool is 0.25%, LP gets 0.15%, and users who lock ZYBER can share a part of it.
Currently, Zyberswap’s TVL is $90 million, surpassing Camelot.
 SolidLizard
Link: https://solidlizard.finance/
A DEX forked from Solidly. With the support of the well-known DeFi developer Andre, Solidly once had more than $2 billion in liquidity, but it has been declining since Andre announced his withdrawal. Currently, the ve(3,3) model has achieved good results on Optimism's Velodrome and BNB chain's Thena.
SolidLizard has also started to work on Arbitrum, with a current TVL of $34.69 million, up 158% in the past 24 months. In projects like ve(3,3), liquidity providers usually do not have a strong desire to stake DEX's native tokens. In SolidLizard, staking SLIZ tokens will also increase the mining income of liquidity providers, which is a small improvement in tokens.
 GMD Protocol
Link: https://gmdprotocol.com/
GMD Protocol is a yield optimization and aggregation platform that uses a near delta-neutral strategy to generate returns. Half of the returns are reinvested, and the other half is distributed as protocol income to stakeholders of the governance token GMD.
GMD splits the assets in LP tokens into single assets, allowing different users to deposit them and then use LP tokens to earn returns, so that the risks of different depositors are close to delta neutral.
For example, for the GLP strategy, depositors can deposit any of the three assets: WBTC, ETH, and USDC. Since the Vault of each asset has set limits based on the asset composition of GLP, the asset proportion of GLP can be simulated. For depositors of a single asset, this strategy is close to delta neutral.
GMD’s TVL recently hit a new high, up 78% in the past week.
 Gamma swap
Link: https://gammaswap.com/
Gammaswap allows traders to leverage long volatility or hedge against impermanent loss. It builds an intermediate layer between users and AMMs. Liquidity providers can provide liquidity through supported AMMs and deposit LP tokens in Gammaswap. Those who need to hedge against impermanent loss can use one of the assets in LP as collateral, leverage LP positions and separate LP into single tokens, paying interest; the liquidity deposited in LP can receive deposit income. If volatility is large and impermanent loss is large, the strategy of separating into single tokens will make a profit.
Gammaswap is seeking cooperation with many DeFi projects and has initiated a proposal in the OlympusDAO community, which mentions that the annual APR for providing liquidity for the OHM/ETH trading pair is about 1.35%, but the impermanent loss is about 2.1%, and providing liquidity will also lead to losses. Therefore, Gammaswap proposes to deposit 1% of the liquidity owned by the Olympus protocol (US$500,000) into Gammaswap to obtain higher returns. The project has received a grant from Balancer and has financing, but has not yet issued a token.
 WINR Protocol
Link: https://winr.games/
WINR Protocol is a project designed for on-chain liquidity and incentives. It built a liquidity pool WLP based on GLP, which includes 50% DAI, 35% ETH and 15% WBTC.
Developers of other projects can also connect their own games to WINR’s liquidity pool through WINR DAO proposals, providing direct payment for game players. Users who provide liquidity are the counterparties of these game players.
For example, a leveraged long/short game can provide collateral and trade through WLP. WINR generates unmodified random numbers through decentralized oracles, which is also suitable for other gambling games. The team has also developed Justbet in the WINR ecosystem.
WINR Protocol will hold an IDO on Camelot on March 6th.
 Nitro Cartel
Link: https://nitrocartel.finance/
The Nitro Cartel team plans to build an index product, Arbitrove, in the Arbitrum ecosystem to provide risk exposure to a basket of Arbitrum native assets.
Arbitrove’s first product is the ALP Index, which includes the governance tokens of the leading projects in the Arbitrum ecosystem: GMX, MAGIC, GRAIL, DPX, JONES, RDNT, and GNS.
Users can mint ALP with ETH as principal and pledge ALP on Arbitrove to earn esTROVE. Arbitrove uses underlying assets to earn income through liquidity mining and distributes it to users.
Arbitrove will hold an IDO on Camelot from February 17th to 20th.
 Perpy Finance
Link: https://www.perpy.finance/
Perpy is a copy trading system for GMX. Any trader can create a Trading Vault in Perpy, bind the wallet address to the Twitter account, and share it on Twitter to attract people to copy. People who choose to copy can deposit funds in these Trading Vaults, and the creators use these funds to trade on GMX and earn a certain performance fee. Each Trading Vault is equivalent to a fund, and the trader who creates the Vault is the fund manager.
Currently, Perpy Finance's products are online, with a total transaction volume of only US$1.85 million. Perpy's native token PRY will be IDOed on Camelot on March 16.
 Factor DAO
Link: https://www.factor.fi/
Factor is an on-chain fund management platform that hopes to become a liquidity aggregation layer to unify the fragmented DeFi market.
Any project or individual can act as an asset manager and create a Vault on Factor. Investors can deposit funds into these Vaults with one click to earn returns. Asset managers earn returns through set strategies, such as creating an index with a basket of assets, a yield strategy, or derivatives.
Currently, Factor’s products have not yet been launched, and the project token FCTR will be IDO on Camelot from February 20th to 24th.