An update: here's what major L1 protocols look like if we use TVL as a proxy for usage
Few personal thoughts:
1/ $ETH: @arbitrum is slowing creeping up in volume, but I think the space is underestimating the impact of L2s on usage because of current fees, which will come down over time
3/ $FTM: bridge continues to see net inflows into the ecosystem, and per dollar TVL basis valuation seems reasonable.
Expecting TVL to persist given the nature of the new incentive program (grants distributed based on trailing average TVL, which means projects need to maintain).
4/ $ALGO: price has gone way ahead of fundamentals for now, with a dramatic increase in OI as mania kicked in.
Keeping an eye on upcoming projects, but so far experience with My Algo Wallet has been much clunkier relative to Metamask-friendly chains @avalancheavax@FantomFDN
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With all the attention on @avalancheavax lately, here are some tips for those who are bridging their assets across for the first time.
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1/ As part of my work, I've played around with most cross-chain bridges that came live the past 6 months... and I had the best experience with @avalancheavax hands down.
It's extremely easy to send $ETH assets over to Avalanche with: bridge.avax.network
2/ Avalanche is EVM-compatible - you can easily use your @Metamask setup and bridge over in a few clicks.
Clever design choices:
- Shows live confs so you know what's going on
- Auto-wraps your ETH
- Airdrops you free $AVAX to pay for gas (!)