Arbitrum Protocols Generate $5.5M in Revenue Despite Slight Monthly Decline
The post Arbitrum Protocols Generate $5.5M in Revenue Despite Slight Monthly Decline appeared on BitcoinEthereumNews.com. Even as the revenue dips slightly, the community is as vibrant as ever—building, exploring, and using the protocols on the network. The protocols on the network are breaking down revenue in a very diversified way, which is a healthy sign of not having very correlated risks. In fact, many of the protocols that are most correlated to the current market performance—like yield-bearing platforms (which are basically DEXs (decentralized exchanges) that allow you to earn yield)—are performing pretty well overall. And the overall health metric—revenue—is looking pretty good as we hit that half-a-year milestone. May’s Deep Dive revenue breakdown offers a glimpse into how DeFi is developing in Arbitrum’s ecosystem. The slide above shows that while DeFi is currently very concentrated among a handful of leading protocols, there’s a lot of exciting experimentation and emerging niche use cases that could make Arbitrum’s DeFi landscape much more diverse in the not-too-distant future. Derivatives Continue to Dominate, GMX Maintains Top Spot The derivatives sector remains Arbitrum’s golden goose, raking in $3.18 million in total revenue for May. GMX leads the way, gushing forth $1.83 million of that (making up, like, more than half of all derivative-related revenue) and showcasing, once again, the shocking dominance of this relatively young protocol. Yet, the race is changing. Gains Network reported $603,000 in revenue for the month, affirming its hold as the second-biggest derivatives platform on Arbitrum. Just behind, Ostium Labs saw a remarkable $530,000 come through, a number that put it ahead of some erstwhile stronger competitors like HMX and Vertex Protocol. HMX did $147,000, while Vertex tumbled to just $37,000 in monthly revenue—indicating of course a loss of market share. These changes indicate that, although the derivatives sector continues to be solid, the people who take part in the market are starting to look at…
The post Arbitrum Protocols Generate $5.5M in Revenue Despite Slight Monthly Decline appeared on BitcoinEthereumNews.com.
Even as the revenue dips slightly, the community is as vibrant as ever—building, exploring, and using the protocols on the network. The protocols on the network are breaking down revenue in a very diversified way, which is a healthy sign of not having very correlated risks. In fact, many of the protocols that are most correlated to the current market performance—like yield-bearing platforms (which are basically DEXs (decentralized exchanges) that allow you to earn yield)—are performing pretty well overall. And the overall health metric—revenue—is looking pretty good as we hit that half-a-year milestone. May’s Deep Dive revenue breakdown offers a glimpse into how DeFi is developing in Arbitrum’s ecosystem. The slide above shows that while DeFi is currently very concentrated among a handful of leading protocols, there’s a lot of exciting experimentation and emerging niche use cases that could make Arbitrum’s DeFi landscape much more diverse in the not-too-distant future. Derivatives Continue to Dominate, GMX Maintains Top Spot The derivatives sector remains Arbitrum’s golden goose, raking in $3.18 million in total revenue for May. GMX leads the way, gushing forth $1.83 million of that (making up, like, more than half of all derivative-related revenue) and showcasing, once again, the shocking dominance of this relatively young protocol. Yet, the race is changing. Gains Network reported $603,000 in revenue for the month, affirming its hold as the second-biggest derivatives platform on Arbitrum. Just behind, Ostium Labs saw a remarkable $530,000 come through, a number that put it ahead of some erstwhile stronger competitors like HMX and Vertex Protocol. HMX did $147,000, while Vertex tumbled to just $37,000 in monthly revenue—indicating of course a loss of market share. These changes indicate that, although the derivatives sector continues to be solid, the people who take part in the market are starting to look at…
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