Leading projects like The Graph, Lido DAO, Uniswap, and Frax Protocol are leveraging this Layer 2 solution for faster, cheaper, and more efficient blockchain transactions.
Current price: $0.1705
Market cap:$1.6B
The Graph is a solution that combines three elements: it is a protocol for querying and indexing data of blockchains, which means that various applications require it on different networks. The shift to Arbitrum will combat the rising need for affordable and fast data exchange by reducing gas fees and time on the network. This move promotes the use and implementation of decentralized applications to achieve more efficient access to blockchain data without having to certainly relinquish security.
Current price: $1.86
Market cap:$1.7B
Lido DAO is one of the popular liquid staking solutions built on Ethereum that has also added Arbitrum to its services. Lido enables Ethereum staking without locking up the underlying ether while offering a wrapped version of stETH on Layer 2 networks. That integration lowers the gas fees and, increases the transaction rate, making staking an efficient experience.
Current price:$10.39
Market cap:$6.44B
Uniswap is an automated trading platform with decentralized trading systems involving DeFi tokens. As an AMM, Uniswap has received praise for making token trading accessible to anyone with tokens and enhancing trading effectiveness. Through connecting with Arbitrum, Uniswap plans to address the problem of deep liquidity using robotic solutions, which are cheaper and faster than traditional trading methods.
Current price: $0.9967
Market cap: $647.26M
The Frax Protocol is the first fractional-algorithmic stablecoin system and a blend of both the collateralized and algorithmic supply. This guarantees the stability of the FRAX stablecoin and offers scalability and decentralization at the same time. Arbitrum integration is applied in Frax as a Layer 2 scaling solution, providing the project’s users with higher throughput and lower fees. Arbitrum will work well with the protocol as it focuses on decentralization and minimizing the need for governance.