Arbitrum is a premier Layer 2 blockchain built by Offchain Labs. It emerged from the initial L2 adoption wave with a clear advantage in DeFi depth, capturing early traction in perpetuals through GMX and establishing a strong base of liquidity in DEXs like Uniswap and Camelot. Incentive programs such as the Arbitrum Short-Term Incentive Program (STIP) further entrenched liquidity and onboarding momentum.

Today, stablecoin inflows indicate steady capital rotation into the network, while user and transaction counts show a base of activity that persists beyond these initial short-term campaigns.

This dashboard is designed to surface where liquidity is moving, which protocols are gaining share, and what trends are starting to accelerate. It captures Arbitrum’s competitive position while pointing to the onchain signals that matter for the next phase of growth.

[http://arbitrum.io](arbitrum.io)

Further reading:

→ [Arbitrum Ecosystem Mapping & Positioning Recommendations](https://x.com/dl_research/status/1944843551692742951)

→[A Comparative Ecosystem Analysis of Arbitrum's Positioning in DeFi w/ Castle Labs](https://x.com/castle_labs/status/1950178494761091373)

**DL Research**

[Website](www.dlnews.com/research)

[X](https://x.com/dl_research)

[Telegram](https://t.me/dl_research)

A look at the Arbitrum L2 ecosystem using DefiLlama data.

TVL & Volume

Bridged TVL & Aggregators

$ARB Marketcap & Price

Stablecoin TVL & Inflows

Users & Transactions

According to the July 2025 [Arbitrum Treasury Management by Entropy Advisors](https://x.com/EntropyAdvisors/status/1955703047969235102), Arbitrum's Treasury Management portfolio grew 35% M-o-M to $79.6m, accruing $161,100 in yield & interest.


Asset allocations:

→ RWA: $46.8m (+69.7% M-o-M change)

→ ETH & ETH-correlated: 27.8m (+48.8% M-o-M change)

→ Inactive stablecoins (-60.2% M-o-M change)


Noteable events throughout the month include:

→ $11.6m USDC received from ARB liquidations

→ $19.1m deployed into RWAs; BENJI (Franklin Templeton), WTGXX (WisdomTree), and USTBL
(Spiko).

→ $15.6m wstETH deployed into Aave, Camelot, Fluid, and Lido

Chain Fees & App Fees

Arbitrum is one of the most active L2s for DEX trading, with volumes that consistently rival or surpass those of smaller L1s. The network’s liquidity is concentrated in Uniswap, Camelot, Curve, and Balancer, each serving different segments of the market. Uniswap dominates spot trading with deep pools for major pairs. Camelot, a native protocol, captures niche pairs and offers customisable liquidity through its dual-AMM design. Curve remains the stable-swap hub, while Balancer supports weighted and composable pools that underpin yield strategies.

The dashboard below displays DEXs available on Arbitrum, with a look at fees generated, price-to-fees ratios, and cumulative spot volume.

Arbitrum DEXs

DEX Volume

DEX Aggregators

Check out [Castle Lab's latest deep dive into Arbitrum's RWA ecosystem.](https://x.com/castle_labs/status/1955991884045668623)

Arbitrum's RWA Ecosystem

Arbitrum’s yield landscape combines blue-chip lending markets, high-volume perpetuals funding, and deep AMM liquidity. Aave V3 leads the sector with supply opportunities in assets like wstETH, wETH, wBTC, and weETH, benefiting from consistent borrow demand across majors. GMX V2’s perpetual markets contribute attractive funding-driven yields, particularly in ETH-USDC and WBTC.B-USDC pairs.

On the AMM side, Uniswap pools such as WETH-USDC remain core for stable yield generation, supported by high turnover and low impermanent loss. PancakeSwap adds niche opportunities like the WETH-GFC pool, which offers exposure to newer ecosystem tokens with elevated fee potential.

The dashboard below details yield opportunities, including amount lent, amount borrowed, and LTV.

Further, Arbitrum's derivatives market is explored with Perpetuals and Options Protocols dashboards. This includes a look at category leaders [GMX](https://gmx.io/) and [Ostium.](https://www.ostium.com/)

Yields on Arbitrum

Yield Protocol Fees

GMX Perps V2

Ostium (Perps)

DEX Aggregator Volume

DRIP is a 12-month initiative from the Arbitrum DAO allocating 80m ARB to grow DeFi activity across four seasons. 

Rewards run in two-week epochs, streamed linearly and claimable via the DRIP front-end or Merkl. Season One (Sep–Jan) focuses on lending markets, distributing up to 24m ARB across participating protocols including Aave, Morpho, Fluid, Euler, Dolomite, and Silo. 

Allocations shift dynamically each epoch based on performance, meaning the most active and efficient pools capture greater rewards.

[Blog Post](https://blog.arbitrum.io/introducing-drip-the-defi-renaissance-incentive-program-on-arbitrum/)

[DRIP Website](https://arbitrumdrip.com/)

Arbitrum's DeFi Renaissance Incentive Program (DRIP)

DRIP Participants Median APY

More highlights on Arbitrum, including Trending Contracts.

Extras

YO, short for Yield Optimizer, is the yield abstraction layer for DeFi. 

It connects capital to the best yield across 50+ DeFi protocols while balancing risk and reward through its novel risk-adjusted approach. With over 100 integrations and more on the way, YO delivers unmatched diversification while continuously reallocating assets across all of DeFi to maximize yield. 

With simple yoETH, yoBTC, yoEUR and yoUSD tokens, users get access to the best of DeFi yield in a single deposit. YO isn’t just another vault, it's the only vault you’ll ever need.

[Official Website](http://yo.xyz)

[Documentation](https://docs.yo.xyz/)

[X](https://x.com/yield)

YO Protocol

YO TVL

Yield Aggregator TVL on Base

Yield Aggregator TVL on Base & Ethereum

YO Median APY

Tether Gold

Paxos Gold

Matrixdock XAUm TVL

Comtech CGO TVL

A look at tokenized gold offerings across DeFi.

Plasma TVL + Volume

Plasma TVL by Protocol

Plasma DEX Agg Volume

Revenue by Protocol

Stablecoin Growth by Chain

# Risk Curator Protocols Overview
This dashboard provides an in-depth look into protocols categorized as 'Risk Curators'. These entities play a crucial role in managing and mitigating risks within the DeFi ecosystem, often through mechanisms like liquidation management, MEV protection, or specialized treasury management.

Top 5 Risk Curator Protocols by TVL (Daily)

**Insight:** The chart above visualizes the Total Value Locked (TVL) trends for the leading Risk Curator protocols. Observing these trends can indicate shifts in trust and capital allocation towards different risk management solutions in DeFi.

**Detailed Protocol Data:** This table provides a comprehensive list of all discovered Risk Curator protocols, allowing for a detailed comparison of their key metrics such as TVL, fees, and revenue. This data is essential for understanding the operational scale and financial performance of each entity.

A dashboard of risk curators made by LlamaAI

Wise Fierce Llama

Tokenized Gold

Public dashboard library

DL Research Presents: The Arbitrum Ecosystem

YO

State of Plasma

Risk Curator

Aave: Rags to Riches