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Ethereum is regarded as the most popular platform for creating the dApp. Remarkable growth is one of the reasons for the rising cost and congestion on Ethereum which is responsible for slow speed. This is demanding the on-chain adjustments and updates to expand Ethereum. While others are looking for Layer 2 solutions.

Despite having major differences in the shape and function Arbitrum is gaining the grip. It was created to fix the inadequacy of Ethereum-based smart contracts. This has negatively affected the Ethereum user experience. Arbitrum accounts for 60% of the Layer-2 market. The increasing activity on Arbitrum is pushing DeFi to new heights.

GMX based on market capitalization and total locked value(TVL) is the largest DeFi project on the network. It is a decentralized exchange based on Arbitrum. Bitcoin, Ethereum, and other popular cryptocurrencies may be traded on GMX with up to 50x leverage.

The GMX user can do the spot swaps. It provides a better trading experience with low swap fees. The trading takes place via its native multi-asset pool, GLP.It is made of 50-55% stablecoins, 25% ETH, 20%BTC and 5-10% other altcoins.

The GMX token is a utility and governance token. It means the token is used to vote on proposals to make decisions regarding the future of the project.

It has a total trading volume of 94 Billion and has more than 235,000 members. The platform has grown as the biggest and most used DeFi exchange on the network.

VELA exchange is a decentralized exchange on Arbitrum which provides professional trading platforms for several cryptocurrencies. Dexpools was used to create the platform. DEX is an OTC trading system based on a decentralized liquidity pool. VELA exchange gained momentum on Arbitrum with the newly announced beta version.

VELA Exchange considered more than 10% of on-chain activity on Layer 2. This highlights the communitys interest and faith in this immortal exchange. The exchange shows a stablecoin backed by USDC that must be deposited to access the trading platform.

Radiant is a non-custodial lending protocol platform on Arbitrum. The project is planned to grow into a cross-chain lending platform. It facilitates users to engage with different blockchains while borrowing and ending on the same platform. Simply said, it allows users to earn interest and borrow assets over various blockchains.

The user can deposit any big asset on any big network or chain and borrow a range of assets supported by several chains. On Arbitrum this lending platform has the greatest TVL. With RDNT token lenders are rewarded through the platform.

As the financial outcomes increase on Radiant it will show more developments in the foreseen future. As a fully decentralized protocol Radiant strengthens its community to vote, implement the proposals, and participate in the decisions to make the platforms future.

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Arbitrum's Popular Dapps Which Shows More Adaptability In Future - The Coin Republic