A list of 9 Very Promising Projects
Introduction
Here is a list of 9 newly launched projects working on innovative ideas which you should keep a close eye on and test/try/use. The future Synthetix, Curve or Aave are definitely in this list.
The first two projects are available for everybody.
Mugen Finance
Project overview: Mugen is a yield aggregator built on top of the so called LayerZero which is a “network framework that runs beneath a blockchain”. Mugen builds cross chain swap and other strategies to generate yield for its stakers (arbitrage, gmx counterparties, etc.). It is basically a kind of web3/DeFi Hedge Fund. Users deposit USDC to get Mugen token (MGN). To claim their shares of the rewards generated by the strategies, users have to stake their MGN into xMGN.
Problem solving: it brings easy to use way to extract value from complex DeFi strategies
Blockchain: Arbitrum (currently)
Mainnet/ Testnet: Mainnet on Arbitrum
Twitter: 2304 followers
Discord: https://discord.com/invite/ZMsfadQ5YD, 947 members
Token: MGN/xMGN. Unlimited supply as per tokenomics
Airdrop: No
To do list: Deposit USDC into contract and stake.
IVX
Project overview: IVX is an option AMM built on top of GMX liquidity and available on Arbitrum. Their AMM is delta hedged thanks to GMX which means that the liquidity providers won’t lose or gain money based on option underlying assets moving up or down (which is a good value proposition). Obviously delta hedging comes at a cost. Besides there are not much info available on IVX yet (www.ivx.fi is not available yet and there is only one medium post).
Problem solving: Option AMM liquidity
Blockchain: Arbitrum
Mainnet/ Testnet: testnet available soon
Twitter: 2612 followers
Discord: no discord yet
Token: no token yet
Airdrop: Potentially
To do list: try out the testnet once available.