We’re back with another Defi article. The markets have been wild recently: Bitcoin has dropped significantly. Dogecoin pumped even further. Just another Monday in the cryptocurrency industry honestly 😅
Gas fees have been showing signs of improvements. I’ve seen Ethereum gas get as low as 41 Gwei. It’s now a great time to onboard onto a new Defi platform.
A lot of the large players in the space are adding support for layer 2 scaling solutions. Some of them, just within the past few weeks. Here’s a list of them in case you’d like to take the opportunity to move your assets with using the cheaper gas prices.
Just a few weeks ago, Aave has integrated with Polygon to bring a new layer 2 market that settles onto Ethereum. It doesn’t have all the assets that Aave v2 does, but it’s a step in the right direction. Since it’s only just recently come out, we should expect more options and support in the future.
Fulcrum (and bZx)
For margin trading and other features on layer 2, Fulcrum has integrated with Binance Smart Chain. The cool thing is that they are moving to support multiple chains. This gives traders more options.
I felt like this list was missing an NFT/Gaming example, so here it is. Axie Infinity is a game where you can train and battle cute creatures, similar to Pokémon. They’ve been around for quite a while and their current means of addressing scaling issues is making their own sidechain called Ronin.
There has already been some features ported to the Ronin wallet. More will come any day now. For those looking to play for the first time, it would be beneficial to wait. There’s likely to be much more resources available once fees are no longer prohibitively expensive.
Uniswap V3 will make use of Optimism. Beyond the advantages in fees, there are a number of other new features and profit opportunities for liquidity miners in particular. Uniswap V3 is available on multiple testnets, and integrations are ongoing. We expect to see a mainnet very very launch soon