A Quick Overview of 6 Promising Appchains Under Development: dYdX, Mars, Aevo...
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A Quick Overview of 6 Promising Appchains Under Development: dYdX, Mars, Aevo...
The narrative around appchains is becoming increasingly popular.
Navigating Web3 tides with focused insightsWritten by: The DeFi Investor
Compiled by: TechFlow
App-specific chains are gaining popularity. Here are 6 unreleased DeFi protocols building their own app chains and rollups (high-potential projects worth watching):
1. dYdX V4
dYdX V3 is the largest perpetual DEX. dYdX V4 will feature a fully decentralized order book and improved performance.
dYdX V3 is built on an Ethereum L2, but as the team stated, migrating to a standalone Cosmos chain is critical to delivering a CEX-like experience.
A major benefit of dYdX V4 is that traders won't have to pay gas fees, just like on centralized exchanges.
There is currently no release timeline.
2. Mars Protocol
A credit protocol. It initially launched a novel credit primitive—C2C lending—on Terra.
C2C lending opens up many new possibilities, such as leveraged yield farming. After Terra's collapse, the team decided to develop Mars V2 on its own Cosmos app chain.
3. Aevo
Earlier this year, the Ribbon Finance team launched Aevo—a book-based options DEX.
Its main advantages:
• Over 100 instruments
• Deep liquidity
Aevo is built on a custom EVM rollup, designed to scale while inheriting Ethereum L1 security.
4. Duality
A Cosmos DEX designed for liquidity providers (LPs).
For most AMMs, impermanent loss is a significant issue—around 50% of Uniswap V3 LPs are underwater.
Duality aims to solve this through MEV redistribution and various constant-price pools.
5. Defund
A Cosmos chain enabling the creation of decentralized exchange-traded funds (dETFs). dETF managers will be able to include tokens from both Cosmos and EVM chains.
Example: 50% ETH, 50% ATOM.
DeFund will automatically rebalance these portfolios.
6. UniDex Finance
UniDex is a DeFi meta-aggregator. Two of UniDex’s products are already live:
• Leverage trading terminal
• Spot trading aggregation terminal
The team is working to expand the protocol onto its own app chain to achieve greater flexibility and full decentralization.
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The DeFi Investor
