Arbitrum Ecosystem Overview (P2)

November 15, 2022 - Around 4 mins mins to read

Arbitrum network is one such Ethereum Layer 2 solution (L2), which also depends on Ethereum for security. Read on to learn everything you need to know about Arbitrum

Arbitrum Services

Due to the low gas fees on Arbitrum, the ecosystem has been growing rapidly since its launch. Additionally, the security offered by the network, along with the ease with which developers can migrate their products to the network, makes Arbitrum a big hit amongst the existing Layer 2 solutions. It One Portal opens the doorway for the entire ecosystem. So let’s look into the services Arbitrum offers.

Bridge

Talking about blockchain bridge, it’s extremely important for every blockchain, especially L2 chains since it’s the gateway for money to flood into the ecosystem. As interoperability is the new meta for blockchains to archive, bridges play as a key driver to realize the interconnected blockchain vision.

3rd-party Bridge: Across, Anyswap, BoringDAO, Celer Cbridge, Composable Finance, Connext, Hopprotocol, Pnetwork, Renbridge, Rubic, and Synapse Protocol.

It has access to almost all the major bridges and On-ramps such as Binance, Bybit, Crypto.com, FTX, Huobi Global, Banxa, Transak, MEXC Exchange. offers users the freedom and ease to choose where they want to put their crypto without any limitations.

Arbitrum DApps

As with Ethereum, DApps built using the project are written in the Solidity programming language and then compiled using the open-source Arbitrum compiler. Usually, Arbitrum DApps only utilize the main chain upon startup and when currency is transferred in and out of Arbitrum, while most interactions are off-chain, resulting in fast turnaround and finality.

It has one of the largest collections such as UniSwap, AAVE, ANKR, DAI, MakerDao, Yield Protocol, and Yearn.Finance, etc. These DApps, along with many others, make sure that never run out of solutions for all your crypto needs while using Arbitrum.

Lending/Borrowing

Lending will allow users in the Arbitrum ecosystem to maximize their capital for returns, especially resonating with other capital-utilizing applications such as Yield Farming and Leveraged Trading.

In general, the Lending/Borrowing niche on Abitrum consists of many crypto players ranging from Arbitrum native startups to well-built protocols. It is now having CREAM Finance and Amy Finance on the edge of ongoing decommission.

Wallets

To protect crypto from hackers and secure private keys, it’s important to select a proper cryptocurrency wallet. There is no shortage of various types of wallets that support Arbitrum, including MetaMask, Coinbase Wallet, Huobi Wallet, Trust Wallet, Zapper, Rainbow, Loopring, Debank, etc. Note that CoinStats Wallet is not yet available.

NFT Marketplaces

NFTs are taking the world by storm – almost all major companies worldwide have announced that they are looking to integrate NFTs into their ecosystem. And that includes technology giants Meta, Google, etc. It offers access to up-and-coming NFT marketplaces such as Stratos, TofuNFT, and Treasure, offering an alternative to high-priced marketplaces like OpenSea, letting new and upcoming artists monetize their art without having to spend vast sums of money beforehand.

Tools

To ensure the development and migration of a large number of projects on network, Arbitrum provides developers of all skill levels with a rich suite of tools. Some of the most popular tools letting developers build products on the project’s network are Chainlink, Etherscan, Tether, USDC, The Graph, Poly Network, Blockvision, etc.

Verdict

The Arbitrum ecosystem continues to grow with a well-developed infrastructure. With the benefits of EVM compatibility and low fees, it is seeing not only the deployment of the already popular DeFi protocols but also the explosion of innovative applications on it. In the future of the blockchain, more applications will choose to be deployed on the Layer 2 network of Ethereum, and the public chain battle that we are focusing on now will probably become more and more a Layer 2 battle, and it will always be a very strong player in this competition.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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