5 DeFi Projects on Arbitrum Worth Keeping An Eye On – CryptoMode

Several blockchains have thrown their hats into the ring to obtain a share of the DeFi pie. Arbitrum is a potent blockchain that offers numerous benefits not in Ethereum or other ecosystems. As more projects explore this blockchain, it will be crucial to keep an eye on the ones noting substantial TVL growth lately.

Arbitrum TVL Is Growing

Although one can argue that Arbitrum has a much lower DeFi TVl compared to other chains such as Ethereum and Binance Smart Chain, the blockchain ecosystem is of great interest to developers and users. Dozens of projects now reside on this network, either as native solutions or a venture exploring cross-chain support. Tapping into unexplored liquidity and users is essential to create a sustainable decentralized finance ecosystem.

Today, Arbitrum has over $2.4 billion in DeFi TVL. A remarkable trend, as other alternative chains aren always that successful. It appears many people see the benefits that Arbitrum can bring to the table. It may not rival Ethereum or BSC for some time to come, but developers and users must explore every opportunity that comes across their path.

SushiSwap (SUSHI)

As one of the first major DEXes to acknowledge Arbitrum, SushiSwap has come a very long way. The expansion to this extra blockchain has been a successful one and yields nearly $377 million in TVL for the popular trading platform. It is intriguing to see how much appeal this blockchain has, as the initial TVL may be a mere stepping stone. Sushiswap remains the TVL leader in this ecosystem, although competitors aren’t standing by idly either.

AnySwap (ANT)

Swaps are of great interest to advanced and novice crypto users alike. Although anyone can convert from one asset to the next through a centralized exchange – either directly or indirectly – there is much more potential in a decentralized environment. AnySwap acknowledges this potential, which is why this project has over $353 million in TVL right now.

Curve (CRV)

Most people will know the Curve platform as an Ethereum-based DeFi solution. Although Curve has been widely successful on that blockchain, the benefits offered by Arbitrum can not be ignored. Expanding to this chain has proven beneficial, as Curves TVL rose by over $347 million because of it. A positive sign, although there’s more to do.

Abracadabra (SPELL)

It is always good to see native DeFi projects succeed on any blockchain. Abracadabra is one such project that appears native to the Arbitrum blockchain. It notes almost $336 million in TVL today, although that number is likely to increase over the coming months. A competitive service and solution can achieve long-term success.

Synapse (SYN)

Another well-known DeFI project taps Arbitrum for additional liquidity and exposure. Synapse acts as a cross-chain protocol layer to promote interoperability between chains. One way of solidifying that vision is by launching on numerous blockchains, including Arbitrum. Synapse has over $109 million in TVL today, which is a more than fair number.

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