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What can L3 mine?

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What can L3 mine? Editor\’s note: This article is from Bit Information (ID: bitc

What can L3 mine?

What can L3 mine? Editor’s note: This article is from Bit Information (ID: bitcoin8btc), written by Overnight Porridge, authorized to be published in the Planet Daily.

Introduction: Starting with L3 mining, let’s first look at what projects on L2 can be used for:

1) L1 can borrow ETH;

2) Bridge to Ethereum through L2;

3) Manage liquidity on Uniswap.

What can L3 mine?

First of all, what can L3 mine?

The first type is LP mining on Uniswap. The most commonly used is Curve, which has reached a pool size of 20 million dollars. Both of these currencies exist in the liquidity providers (LP), so you don’t need to pay attention to the funds of other exchanges and liquidity providers.

The second type is liquidity mining directly on Ethereum. If you put this token into Curve, users don’t need to consider participating in liquidity mining.

The third is in Curve, where users can mine some coins (such as yCRV) in L3 by themselves.

The fourth type is to deposit your funds to generate income.

The fifth type is to deposit your assets to earn profits.

The sixth type is to mine dx in Curve. There are various dapps now, including YFI, COMP, AAVE, SUSHI, etc., all of which can be exchanged through decentralized liquidity pools, and they can also mortgage their coins to Curve.

The sixth type is to generate returns by depositing into the liquidity pool and then buying through liquidity providers, so users can continuously buy and sell.

The seventh type is to borrow money to earn interest, which means buying in Curve and automatically receiving returns. Of course, more people will be willing to join this market in the end.

The eighth category is also based on L1, such as Synthetix, which is a cross-chain aggregation protocol and a smart contract platform that allows anyone to create liquidity pools for any ERC20Token without worrying about the risk of no liquidity. Therefore, Synth also provides corresponding rewards.

The tenth category of tokens is Synths’ native tokens, with a total value of 1 billion dollars, but Synth cannot issue synthetic currencies like other synthetic stablecoins, it can only be used as a means of payment.

The fifteenth category of tokens is Synths, with a total supply of 21 million. 80% of them are allocated to liquidity contributors, and the remaining 10% are borne by SNX holders. These are all based on the liquidity incentive measures locked in sushi, so when the sushi price falls, these staked users will lose their funds (because they either choose to withdraw locked ETH or give up all staking).

The sixteenth category of tokens is on Ethereum, mainly used for liquidity and staking, and these tokens are mainly used for mining or staking, not as reserves.

The seventeenth category of tokens is issued on Uniswap, which is done by minting lnUSD and minting stkUSDC tokens alongside.

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