Optimism and Perpetual Protocol dominate DEX interactions
On February 24, according to the information on the Orbiter. finance page, the number of interactions between Optimism and the centralized Perpetual Protocol r…
On February 24, according to the information on the Orbiter. finance page, the number of interactions between Optimism and the centralized Perpetual Protocol reached 139433 in the past week, ranking first, far higher than the second AMM protocol Velodrome. In addition, DEX Uniswap, Synthetic Asset Issuance Agreement Synthetix and Ethereum Lossless Lottery Platform PoolTogether ranked 3-5.
In the past week, the interaction volume of the Personal Protocol on Optimism was nearly 140000, ranking first
Interpret the above information:
The decentralized exchange (DEX) market is gaining more traction lately as investors aim to participate in the global financial market through the blockchain-based infrastructure. Ethereum, as the leading blockchain platform for DEXs, has seen a surge in DEX interactions over the past year as more DeFi projects are being developed on the network. As per the latest report on the Orbiter finance page, the number of interactions between Optimism and the centralized Perpetual Protocol reached 139433 in the past week, ranking first among other DEX protocols.
Optimism, a Layer 2 scaling solution for Ethereum, is aimed at reducing the network congestion and improving transaction speed while offering various DeFi solutions. Meanwhile, Perpetual Protocol allows traders to speculate on the future price of crypto assets with leverage. The high number of interactions between these two protocols signifies the increasing demand for infrastructure that supports high-speed transactions and advanced trading options.
Velodrome, an automated market maker (AMM) protocol, ranked second in terms of interactions, indicating the popularity of this feature among DeFi users. Uniswap, a leading DEX, ranked third with 109k interactions. Synthetix, a synthetic asset issuance agreement, ranked fourth with 84.8k interactions, while PoolTogether, a no-loss lottery platform on Ethereum, ranked fifth with 60.3k interactions.
The report shows that newer emerging DeFi projects such as Optimism and Perpetual Protocol are leading the way in terms of DEX interactions. This trend indicates that investors are looking for innovative DeFi projects that offer more diverse solutions and products. The success of these projects may further attract institutional investors and businesses seeking alternatives to traditional finance.
In conclusion, the DEX market on Ethereum is expanding rapidly, with Optimism and Perpetual Protocol leading the way in terms of interaction volume. The report also highlights the importance of Layer 2 scaling solutions in improving Ethereum’s network capacity and speeding up transactions. As the DeFi landscape continues to evolve, it will be interesting to see how these protocols perform and whether they can maintain their lead in the DEX industry.
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