In the past year, new Layer 2 (L2) projects have been launching left, right and center. Some examples include Base, Mantle, and Manta. While this was happening, L2 stalwarts like Polygon and Optimism remained strong. Despite such fierce competition, Arbitrum still retains its top position.
Today, Arbitrum has the top Total Value Locked (TVL) amongst all L2 chains at over $2.59 billion. This shows us that the ecosystem is thriving and robust. With that, we take a look at the top 7 Arbitrum coins for the upcoming bull market below.
Coin #1 – $DMT
First on our list of top Arbitrum coins is $DMT. $DMT stands for Dream Machine Token. It’s the native token for Sanko GameCorp. The Sanko Dream Machine is an arcade-style dApp. In short, it’s got the following cool features:
- A gaming console.
- NFT-related gaming.
- Gambling games.
- A “Twitch-like” streaming service, and more.
ANNOUNCEMENT π¨π¨
Sanko Β©οΈ Is Pleased To Announce That NFT Charging Is LIVE!! β‘οΈπ±
Charge Your Sakura Park β’οΈ & Streets Of Milady β’οΈ NFTs And Receive Rewards In $xDMT! ππ
xDMT Will Be Convertible On Sanko's Β©οΈ @Arbitrum Layer3 Orbit Chain!https://t.co/c21u6UhyI2 pic.twitter.com/ldAgQQUl8t
— Sanko GameCorp Β© (@SankoGameCorp) January 10, 2024
Sanko has chosen to build its dApp on Arbitrum. Naturally, it uses Arbitrum Orbit for better scaling and lower transaction costs. That’s great news for users like you and me. We’re able to enjoy its games and streams with low costs and high speeds.
In the middle of the Sanko ecosystem lies $DMT. Its main uses are for transactions, rewards, and staking. As of now, $DMT’s price is at $18, with a market cap of $10.8 million.
Coin #2 – $MOZ
Next on our list of top Arbitrum coins is $MOZ. $MOZ is the native token for Mozaic Finance. Simply put, Mozaic is a project that aims to optimize yields. To do this, it leverages two main technologies AI and LayerZero. Therefore with Mozaic, you can get the best yields automatically.
The Hercules Stablecoin Vault has now accumulated over $620,000 in TVL πͺ
Current Vault APY: 11.26%
Incentivised $xMOZ APR: 88.64%Deposit Now βΆοΈ https://t.co/g26KoawuQE pic.twitter.com/8XoDqxZOzI
— Mozaic π³ (@Mozaic_Fi) January 10, 2024
With its main product Archimedes, Mozaic uses AI to automate farming decisions. Currently, it has two main vaults.
- Hercules Vault: Provides a yearly return on stablecoin deposits.
- Theseus Vault: Provides a yearly return on deposits of $BTC, $ETH, $SOL, $ARB, $LINK, $UNI, $DOGE, $XRP, and $LTC.
Mozaic is built on Arbitrum. Thus, its $MOZ token is on the Arbitrum chain too. $MOZ’s main token utility is for staking, governance, and revenue sharing. Today, $MOZ price is at $0.156 and its market cap is $12 million.
Coin #3 – $RAM
The last on our list of top Arbitrum coins for this article is $RAM. $RAM is the native token for a Decentralized Exchange (DEX) called Ramses. Ramses DEX brings the Ve(3,3) concept to Arbitrum. In a nutshell, Ve(3,3) is a sustainable tokenomics design. It reduces reliance on large liquidity providers. And, it incentivizes users to contribute to the DEX in the long run.
$RAM is one of the most promising projects that has secured $ARB STIP rewards.
Through its unique model, RAMSES is extremely efficient with liquidity generating over $100M volume in peek with only $17.81M in TVL.
— AlΞx Wacy π (@wacy_time1) January 8, 2024
Indeed, Ramses DEX has shown results with Ve(3,3). From the above tweet, you can see it already has $17.8 million in TVL. That’s pretty impressive for a young project. Aside from good tokenomics, the DEX has a good User Interface (UI) as well.
For certain DEXs, their token has little to no utility. But not $RAM. Its multiple use cases include incentives and locking to receive $veRAM. With $veRAM, users get a say in governance and allocating rewards to certain pools. Today, $RAM’s price is $0.045 and its market cap is $2.58 million.
Conclusion
That wraps it up for today’s article on the top Arbitrum coins. We’ve talked about $DMT, $MOZ, and $RAM. But, what about the next four coins? Here is the second part.
Note: This article was inspired by this tweet.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
