L1 / L2

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Arc is an open Layer-1 blockchain created by Circle, utilizing the high-performance Byzantine Fault-Tolerant (BFT) consensus engine, Malachite based on Tendermint.

AsterDEX represents a post-merger perpetual exchange combining yield infrastructure (Astherus) with derivatives trading (APX Finance) into a multi-chain platform featuring up to 1001× leverage and yield-bearing collateral.

Canton Network has executed a rare successful pivot from enterprise permissioned blockchain to public-permissionless infrastructure while retaining institutional credibility.

Coinbase has evolved from a pure crypto exchange into a diversified crypto financial services platform, achieving 40% non-transaction revenue in Q3 2025 ($747M subscription/services) while building a strategic moat through Base L2, which generated $75-82M revenue in 2025 and captured 46% L2 DeFi market share.

Hyperliquid represents the most sophisticated attempt to replicate centralized exchange performance on-chain, achieving sub-second finality and $3.57B daily perpetual volume through a custom L1 architecture.

Maple Finance has evolved into the leading on-chain institutional credit marketplace with $5B AUM and $25M+ ARR as of 2025, having successfully pivoted from its 2022 crisis (Orthogonal $36M default, 97% TVL collapse) to an overcollateralized secured lending model with zero lender losses since August 2023.

RedotPay is a regulated, profitable Web3 fintech operating at meaningful scale ($10B annualized payment volume, $150M revenue, 6M+ users) with institutional backing ($194M raised in 2025 from Pantera, Coinbase Ventures, Circle Ventures).