Optimism Surpasses Velodrome as the Top AMM Protocol on Perpetual Protocol
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
Interpretation of the news:
The message above indicates a significant shift in the decentralized finance (DeFi) landscape as Optimism overtakes Velodrome as the top automated market maker (AMM) protocol on Perpetual Protocol. AMMs are automated trading algorithms that provide liquidity to decentralized exchanges (DEXs) by allowing users to trade tokens without the need for traditional order books. They achieve this by using a pool of funds to provide liquidity and facilitate trades without involving intermediaries.
According to the message, the number of interactions between Optimism and Perpetual Protocol reached 139,433 in the past week, ranking first, which is a remarkable achievement for Optimism. The figures show that Optimism has become the top choice for traders seeking a seamless trading experience on Perpetual Protocol. The statistics reveal that Optimism has garnered a significant following, which can be attributed to a combination of factors such as faster transaction times, lower fees, and better user experience.
The message also indicates that Velodrome, previously the leading AMM protocol on Perpetual Protocol, has dropped to second place. Velodrome has been known for its effective price discovery mechanism, which allows for lower slippage rates and more efficient trading on the exchange. However, the recent shift may indicate that traders are now seeking other features such as ease of use and speed, which Optimism provides in abundance.
In addition to Optimism and Velodrome, the message also ranks other DEXs such as Uniswap, Synthetix, and PoolTogether in the top five. These platforms have been known for their innovative features, excellent user experience, and low fees. They have played significant roles in promoting DeFi and blockchain technology, leading to increased adoption among users worldwide.
In conclusion, the message highlights the ongoing competition among DeFi protocols to provide a better user experience, faster transaction times, and lower fees. It shows that traders are continuously seeking better options, leading to a shift in the market’s leading protocols. The message indicates that Optimism’s rise to the top spot on Perpetual Protocol is a significant development and highlights the platform’s appeal among DeFi traders.
Overall, the takeaway from the message is that DeFi is a dynamic and rapidly evolving ecosystem, continually changing to suit traders’ needs. Therefore, users must always stay updated with the latest developments in the space to stay ahead of the curve.
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