Written by: iambabywhale.eth
Optimism officially announced the issuance of token OP and retroactive airdrops in the early hours of this morning. It is worth mentioning that the official said that Optimism will conduct more than one round of airdrops, and users who actively participate in subsequent protocol interactions may still have the opportunity to receive airdrops. So it is particularly important to know which projects are worth participating in on Optimism.
As the only Rollup solution that has achieved "EVM equivalence", Optimism has unique advantages in terms of friendliness to Ethereum eco-developers and ease of migration, but it may be subject to the soon-to-be-released whitelist restrictions and the impact of the market downturn , Optimism is not only inferior to Arbitrum in terms of ecological prosperity, but even the TVL of a single dYdX project on StarkEx is 30% higher than the total TVL of Optimism. However, in March of this year, Optimism still completed a $1.65 billion valuation led by Paradigm and a16z, setting a record for Ethereum Layer 2 financing of $150 million. Its TVL has also recently hit a new high, which has significantly accelerated the pace of development .
In view of the fact that there are relatively few native projects on Optimism at present, and there are almost no well-known projects except the DeFi track, the author will first introduce Optimism as one of the featured projects on the "main battlefield".
Optimism Featured Projects
The featured projects on Optimism are all DeFi projects, among which the synthetic asset agreement Synthetix and its ecological option agreement and asset management agreement account for a considerable proportion, and the remaining projects are also closely related to transactions.
Synthetix and its ecological projects
As a project that officially announced the launch of Optimism in July 2021, the synthetic asset protocol Synthetix bears the brunt. According to DeFiLlama data, among the total TVL of slightly more than 500 million US dollars on Optimism, the Synthetix project alone has 225 million US dollars, accounting for nearly 45%. Besides Optimism, the only blockchain supported by Synthetix is Ethereum. In addition to the protocol itself, its ecological projects Kwenta, Lyra, Thales, and dHEDGE have also launched Optimism.
Synthetix is one of the earliest DeFi projects. Users can mint the US dollar stablecoin sUSD by over-collateralizing its native token SNX, and trade in its market including sETH, sBTC and even precious metals such as gold and silver in the traditional financial market, as well as well-known US listed companies Synthetic assets such as stocks. Last week, Synthetix launched a reward for veCRV holders to vote for Curve's sUSD-3CRV pool on Optimism to further stimulate liquidity growth.
Lyra, the Synthetix ecological second-tier options protocol, migrated all liquidity to Optimism at the end of last year, becoming Optimism's native DeFi project, supporting options transactions of ETH, BTC, LINK, and SOL through sUSD; Thales, as a Synthetix ecological derivatives protocol, also It has become the native protocol of Optimism, supporting the purchase of call and put options on more than 10 assets through sUSD; dHEDGE is an asset management protocol based on the native assets of Synthetix, and supports assets on Polygon in addition to Ethereum and Optimism.
Pika Protocol
Pika Protocol is Optimism's native decentralized perpetual contract protocol, which supports up to 50 times leverage for perpetual contract transactions of BTC, ETH, LINK, SOL, AVAX, and SNX.
Clipper
Clipper is a DEX launched by cryptocurrency exchange developer Shipyard Software in June 2021. It has received US$4 million in equity financing led by Polychain Capital, and has received an initial US$17 million from Polychain, Nascent, and Three Arrows Capital. fluidity. Clipper reduces the Gas fee required for transactions through liquidity aggregation, optimization of AMM, and simplification of on-chain calculations. Currently Clipper supports Ethereum, Polygon and Moonbeam in addition to Optimism.
Rubicon
Rubicon is a DEX with an order book model. Currently, only Optimism is launched, and Polygon will be launched in the future. It supports the use of USDC, USDT, and DAI to trade WBTC, WETH, and SNX.
Aelin
Aelin is a decentralized financing protocol established on Ethereum but released on Optimism, where users can publish their fundraising needs and corresponding uses, and other users invest funds to obtain benefits. Its mode of operation is somewhat similar to asset management, but it may have greater risks because of the high degree of freedom of use.
ZipSwap
Lyra, the Synthetix ecological second-tier options protocol, migrated all liquidity to Optimism at the end of last year, becoming Optimism's native DeFi project, supporting options transactions of ETH, BTC, LINK, and SOL through sUSD; Thales, as a Synthetix ecological derivatives protocol, also It has become the native protocol of Optimism, supporting the purchase of call and put options on more than 10 assets through sUSD; dHEDGE is an asset management protocol based on the native assets of Synthetix, and supports assets on Polygon in addition to Ethereum and Optimism.
Polynomial Protocol
Polynomial Protocol is an encrypted asset management protocol that allows users to deposit sUSD and sETH, and the protocol generates income through automated strategies.
Cross-chain bridge
At present, almost all mainstream cross-chain bridges support Optimism, including Hop, Synapse, Teleportr, Across, Celer Bridge, Connext, LI.FI, LayerSwap, O3 Swap, Optimism Bridge, Orbiter, Poly Network, Via Protocol, Stargate, etc., the author Only some of them are introduced.
Stargate
Stargate is a stablecoin cross-chain bridge based on the cross-chain interoperability protocol LayerZero, and its TVL exceeded $4 billion within three weeks of going live. Its underlying protocol, LayerZero, received $135 million in funding led by FTX Ventures, Sequoia Capital, and a16z at the end of March. In addition, SushiSwap will also integrate with Stargate in the future.
LI.FI
LI.FI is a cross-chain DEX aggregator that allows users to convert any asset on any chain to any asset on another chain within the chains and assets it supports. The function of the Via Protocol above is also similar to it. Via Protocol also announced at the end of February this year that it had completed $1.2 million in financing.
LayerSwap
LayerSwap is an application that allows large exchanges including Coinbase, Binance, Bitfinex, FTX, OKX, Kucoin, Huobi, Crypto.com, Kraken, and Bittrex Global to reduce handling fees when withdrawing coins to the Ethereum Layer 2 network.
High TVL DeFi and other track projects
Optimism is the second-layer solution of Ethereum. At present, the projects with the highest TVL in the ecosystem are generally the top applications on the Ethereum mainnet. According to DeFiLlama data, in addition to the above-mentioned projects, the top 20 TVL projects on Optimism also include DeFi projects such as Uniswap, Perpetual Protocol, Curve, AAVE V3, Arrakis Finance, dForce, Hundred Finance, WePiggy, BoringDAO, CircusDAO, Kratus, Olympus DAO , XDAO and other DAO organizations, as well as the NFT market Quixotic.
Arrakis Finance
Arrakis Finance, renamed from G-UNI, is a DeFi use case developed by the Gelato Network, an automatic execution tool for Ethereum smart contracts. Users can use Arrakis Finance to view the yields of Uniswap's various liquidity pools and directly add liquidity on Arrakis Finance. mining.
Hundred Finance
Pika Protocol is Optimism's native decentralized perpetual contract protocol, which supports up to 50 times leverage for perpetual contract transactions of BTC, ETH, LINK, SOL, AVAX, and SNX.
