It was Mid 2020 and Defi was starting to gain traction and the use of the Ethereum blockchain at scale on a constant basis was starting to kick off.

During this period of time transactions were cheap but as the bull run kicked off for us little fish it become unaffordable for us to transact on the network which kicked of the L1 multi chain in which some great tech was born.

As good as the tech was, it was mostly just forks of the Ethereum network and as people use to say to me about their new god of chains, that this is the next Eth killler, in recent times I would show them Defi Llama with the Data displaying TVL which was predominantly on Eth.

While the L1’s were flourishing quietly in the background Eth L2 scaling solutions were being created, with the release of Arbitrum, Metis, Boba and now Optimism and soon polygon’s version, the L2 wars are beginning.

Personally I’m sold on the Optimism so far, maybe biased due to the airdrop but I also am very interested in the top projects on the chain and is a better suit for my Blockchain needs.

With Synthetix holding the top tvl position for sometime and a snx holder and bullish on the future of SNX it was a huge lure for me onto the network.

Second is velodrome, little annoyed I didn’t claim my airdrop in time but hopefully my investment over the long-term makes up for it. I’m super and interested to see where this project goes, to have an improvement on curve a top Defi 5 project by tvl with one of the biggest giga brains and innovators creating the foundations to the project. There is a chance that Velodrome become the new curve and would turn out as a great investment for receiving income in the future when the project is producing huge fees through the protocol for veVelo holders.

The 3rd project which needs no introduction that is always battling the top position for biggest Defi project Aave, With their institutional partner ships and a new dynamic to the project with the upcoming release of the stable coin GHO.

With the outlayed projects and the ability to use these now at much cheaper fees we can now have the same access the whales have to the best defi out there. I’m looking foward to the next bull run, we have a massive hurdle to get through in terms of the macroeconomic outlook but when it arrives, it’s going to be glorious and I hope i’ve accumulated enough ETH, OP, SNX VELO and AAVE to bulild some generational wealth.

Big thanks to Rabbithole for the guidance through the web3 world and getting to use fantastic tools like this one.

Good luck out there cryptonites!

EmbraceCrypto