Bancor 3 Goes Live With Launch Partners Polygon, Synthetix, Yearn, Brave, Flexa, Nexus Mutual & 30+ DAOs

By Stan Peterson
May 11, 2022 Updated May 11, 2022
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Bancor, a multi-chain platform and the ultimate DeFi liquidity solution protocol, has released the third iteration of its solution, dubbed Bancor V3. As per a recent press release, Bancor v3 presents what analysts say is an ultimate DeFi solution with distinguishable features such as instant impermanent loss protection, Omni Pools, for better efficiency and deeper liquidity, unlimited single-sided staking with higher rewards, and more. 

Bancor v3 is launching in collaboration with other top DeFi protocols, including Polygon, Yearn Finance, Synthetix, Brave, Flexa, and over 30 DAOs. Some of these high-level and liquid launch partners will provide seed liquidity to Bancor v3. Meanwhile, others plan to offer exciting incentives, leveraging the platform’s customizable auto-compounding rewards system.

The enhanced Bancor platform will be a suitable and timely vehicle allowing partner projects to maintain sufficient liquidity for their native token. As a result, the token would have deeper liquidity, drastically improving the overall swapping experience due to low slippage. They would also concurrently deploy auto-compounding rewards to further boost their liquidity, preventing unnecessary selling pressure. At the same time,stakers would also earn high yields in an environment cushioned against impermanent loss. 

Commenting on this release, Mark Richardson, the Product Architect at Bancor, said:

“Bancor has spent the past several years creating the equivalent of a high-yield savings account for DeFi: Deposit your assets, sit back and earn. By helping token projects and their users safely and simply tap into DeFi yields, Bancor 3 enables robust and resilient on-chain liquidity markets that drive healthy token economies.”

The creators of Bancor V3 are releasing a solution they hope will drive sustainable DeFi, paving the way for sector participants to earn high yields with relatively low risks. Crypto projects would also have a secure, risk-mitigated environment to boost their project’s on-chain liquidity.

Bancor v3 is emblematic of crypto and blockchain innovation. Since Bancor released the first version of a trustless swapping platform, reducing the role of centralized exchanges, the sphere has exponentially grown. The total value locked (TVL) across all networks soared to over $260 billion in November 2021. At spot rates, and due to the contraction in the crypto market, the TVL is at a decent $200 billion, of which Ethereum remains a choice network.

Being an active participant in the Blockchain world, I always look forward to engage with opportunities where I could share my love towards digital transformation.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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