OpenLeverage launched on Arbitrum One
Since its mainnet beta launch in May 2021, Arbitrum One has seen explosive growth as a leading Layer-2 blockchain on Ethereum, enhancing smart contracts and the DeFi space by optimizing transaction speed and scalability with reduced transaction gas costs. Active Ethereum DeFi users have migrated onto Arbitrum, as have many different projects. As more projects come onto Arbitrum, many will be newer projects demonstrating long-tail market landscapes.
OpenLeverage and Arbitrum communities have greatly anticipated this deployment to materialize opportunities within the long-tail market. As the leading Ethereum rollup, Arbitrum has over $2.9B in TVL and is optimal for DeFi adoption but lacks a truly permissionless lending and margin trading protocol. Deploying OpenLeverage on Arbitrum would fill this void and mutually benefit both communities. OpenLeverage is the best protocol to support the long-tail market with upcoming or trending tokens with its permissionless margin trading and lending infrastructure.
Their deployment will provide more support for long-tail tokens. Users can access more decentralized exchanges such as Uniswap V3, SushiSwap, and more and create any pair with depth, as well as open long or short positions. Arbitrum users will have more support for long-tail tokens they like — $MAGIC, $GNS, $RDNT, $GRAIL, and more.
They are deeply integrated within the Arbitrum ecosystem and will connect to many partners to expand their network within the upcoming weeks. They welcome all Arbitrum communities and projects to work and partner with them in enhancing the ecosystem.