Beam Me to the Moon Scotty with Moonbeam Part 3: Other Dapps
I mentioned in the second part of this series how most of the ecosystem was basically dexes, which is why I covered part 1 and and part 2 with dexes. However, there is a larger part of the ecosystem I have yet to review at all. For that reason, I’ll go into greater detail about this ecosystem and attempt to wrap up what I can for the time being.
Last of the Dexes
Initially I thought I would be able to get away with just two articles on Dexes regarding moonbeam. As I started finding more research tools, I found myself down another rabbit hole of dexes. For that reason, It is time to add more information regarding dexes.
Zircon Finance
I missed this dex simply because it isn’t live yet on moonbeam. At the moment, it can be used on Moonriver. It is supposed to be a single sided token LP model very similar to what Osmosis had introduced. It is supposed to help reduce the risk of impermanent loss. Someone brought it to my attention after reading my previous article. It is worth keeping your eye on this.
Another Dex with swapping and farming. Right off the bat, the website was taking forever to load. It feels slightly buggy. Even when I was trying to do research on the APRs on the farms, I got 0 information back. For now, you’re probably better off skipping this dex.
Rubic
A cross chain dex. If you need to bridge assets over, this might be a decent dapp to use. I haven’t found any hacks so far in my research regarding this bridge but as a rule of advice, do not bridge more than you are willing to lose.
Goana Farm
This is another dex underdevelopment for the moonbeam ecosystem.
Lending- Making Banker of Users
This is one of the biggest projects on Moonbeam. The Summary of this project, Compound protocol for Moonbeam. It is basically a lending protocol for Moonbeam. It has a pretty solid team and group of investors.
Prime Protocol
A project in current development for a multichain. They have plans to launch their own stablecoin USP. You’ll be able to borrow money across different chains and accounts. Interesting project to pay attention to.
QiDao
I spoke about this protocol lightly as part of my research on stablecoins. Right now it isn’t able to connect to the Moonbeam.
WePiggy
Basically a protocol very similar to compound or aave. You lend your crypto to people who want to borrow your cryptocurrency. Kind of boring at the moment with the yields.
Qoda Finance
This is a weird kind of protocol in which users set the APY on how much they want to lend their cryptocurrencies. It is a very strange idea but worth keeping on your radar. Right now it is operating on Alpha Moonbase testnet.
Yield Aggregators: Maxing gains and crypto wealth
Beefy Finance
This is a multichain yield aggregator. On one hand, the team is anonymous. However, the protocol has been up and running for some time now. In fact it started around October 2020, just about two years at the moment of writing. It has some cool ideas loaded in it such as a safety score to measure the riskiness of the vaults being deposited.
Crystl Finance
I spoke about Crystl Finance in my introductory post about moonbeam. I was a little concerned about the health of the project at the time.
Minimax
This project just goes to show how underdeveloped the moonbeam ecosystem is. At the moment, their vaults are basically being used to deposit your LP tokens into beefy finance. At the moment, it doesn’t make a lot of sense to use this platform and increase the risk to two smart contract platforms.
ACryptoS
This is another multichain project primarily focused on the BNB ecosystem. It is currently underdeveloped for the moonbeam ecosystem stripped of many of the features found on its counterpart chain. Most of the yields it is supporting is coming from Moonwell.
Autofarm
In terms of yielding opportunities, there isn’t much. However, they do offer some boosted yields that may attract people.
NFT Marketplaces: Trading arts and unique assets
Raresama
I spoke briefly about Raresama and its governance token Poop coin awhile back. I don’t like the poop coin but they seem to be trying to prime Raresama as the primary source of NFT trading on Moonbeam. As far as collections, it isn’t that rich in content.
Moonbeans
This platform seems to be a lot richer in NFTs which may make it worth checking out. Even if you aren’t interested in NFTs, the token BEANS could make it worth it. Everytime a trade is made on the moonbeams network, there is a tax on the trade that goes back to BEANS holders. The rewards are in either WGMLR or USDC.
Metacourt (NFTdeals)
This is an interesting idea. This is a platform that allows influencers to monetize their tweets as NFTs. Although the native token of this platform is on BNB.
A List of other NFT platforms available to Moonbeam users. Many happen to be multichain marketplaces.
Derivatives and Leverage: Adding risk for mad gainz
Athos Finance
At the core of this dapp, it can be simply described as a clone of the Synthetix protocol on Ethereum. You basically mint athUSD to use for trading synthetic assets on their chain. Right now you can trade a handful of synthetic assets; Atom, DOT, BNB, BTC, ETH, GLMR and LINK.
Basically a Dapp to give access to leveraged positions on LP farming. At the moment it isn’t accessible on Moonbeam but it is a multichain application.
Firefly
It is a DEX in development with perpetuals. They are looking to use an orderbook style approach to their DEX.
Conclusion
I am 100% at this point that I have yet to discuss all the upcoming applications. The one thing that does discourage me from investing in moonbeam at the moment is the fact that most of the applications are multichain dapps than ones that are exclusive to Moonbeam. I have watched the ecosystem steadily increase in size even during this bear market, which is a positive sign. I it is hard to say that this coin isn’t on my radar.
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