NFT News by Thebittimes.Com

BabyDogeSwap and the Competition to Beat The launch of the BabyDogeSwap platform can be tagged a watershed moment for the memecoin community with broad services now open to all. As the protocol revealed, users can now swap their tokens using its aggregator. advertisement Beyond token swapping, users can also functionally create farms and pools on demand, and also utilize the DEX ’s free token locker, and also checkout the Non-Fungible Tokens (NFTs) hosted on the trading platform. https://t.co/UAopqn3msj is live! -Users can swap using our aggregator -create farms & pools on demand, -use our free token locker, -checkout our NFTs, -get a #Babydoge virtual crypto card to spend your crypto, -use our burn portal to burn your baby doge to get lower buy… pic.twitter.com/hrYrnZtiic Recommended Articles Crypto Presale Projects For 2023 To Invest; Updated List...

Arbitrum is making moves to become the hub of decentralized derivatives trading and DeFi activity within the layer-2 space. The total value locked (TVL) in DeFi applications on the Arbitrum, a layer-2 Ethereum network blockchain, has doubled since the start of 2023. While investors’ hope of an ARBI token airdrop is a major factor attracting activity to the Ethereum layer-1 network, the ecosystem’s DeFi growth is also showing robust growth.  Arbitrum has become a major hub for decentralized derivatives trading and offers high yields for crypto yield hunters, reminiscent of wild west DeFi days of 2020. GMX and Gains Network takeover decentralized derivatives trading GMX is the leading DApp on Aribitrum, which comprises 25% of the network’s total TVL. The perpetual swap trading platform pits traders and liquidity providers against one another. The liquidity providers own GLP tokens, an index of cryptocurrencies and stablecoins that act as trader counterparties. Meanwhile, stakers of GMX ...

"Ultimately, we must harden the business model to produce more swap volumes & generate more fees," wrote CEO Jared Grey. According to a new Twitter post by SushiSwap CEO Jared Grey, the decentralized exchange, or DEX, experienced a $30 million loss in the past 12 months on incentives for liquidity providers, or LPs. As explained by Grey, SushiSwap currently employs a token-based emission strategy to incentivize LPs, but the current rate is "unsustainable." "We commissioned Flipside to build dashboards to showcase these results; we'll make them available by EOY." Moving forward, Grey plans to rework SushiSwap's tokenomics so that LPs are no longer subsidized with emissions and redesign the entire model of bootstrapping liquidity on the exchange. " In Q1 2023, we will bring innovation to scale swap volume & prioritize TVL. As LPs experience a more profitable swap experience, others should migrate to Sushi," wrote the DEX executi...