2 years ago
Shaurya is an analyst/editor for CoinDesk's markets squad successful Asia.
Liquidity pools and staking merchandise Bancor has released its "Bancor 3" protocol, which has caller features meant to supply easier staking, the institution said successful a merchandise shared with CoinDesk connected Wednesday.
“Bancor has spent the past respective years creating the equivalent of high-yield savings accounts for DeFi: Deposit your assets, beryllium backmost and earn,” Product Architect Mark Richardson said successful a statement.
“By helping token projects and their users safely and simply pat into DeFi yields, Bancor 3 enables robust and resilient on-chain liquidity markets that thrust steadfast token economies,” Richardson added.
Bancor 3 launched retired of beta with an improved mentation aimed astatine creating much sustainable liquidity by giving participants entree to "Single-Sided Staking" with nary hazard of Impermanent Loss, and providing them with "Auto-Compounding" and "Dual Rewards."
Single-sided staking consists of earning yields connected conscionable 1 token provided by a idiosyncratic to a Bancor excavation to support 100% vulnerability to that token. A single-sided "pool token" volition beryllium issued to users successful return, with these tokens rising oregon falling comparative to the prices of the underlying tokens.
This is successful opposition to different DeFi pools that necessitate users to deposit aggregate tokens successful a pool, which increases hazard and exposure.
The auto-compounding features reinvest net backmost into the pools to make higher returns. Meanwhile, dual rewards notation to third-party token projects and partners that tin incentivize idiosyncratic liquidity and enactment connected Bancor.
Bancor generates millions successful fees per period for depositors and offers up to 30% annualized returns connected tokens specified arsenic ether, weighted bitcoin (WBTC), chainlink (LINK), and others.
Over 30 decentralized autonomous organizations (DAOs) usage Bancor arsenic a treasury absorption solution, including Polygon, UMA, Nexus Mutual, and KeeperDAO.
The motorboat has attracted token projects and DAOs including Polygon (MATIC), Synthetix (SNX), Yearn (YFI), and WOO Network (WOO), among others, to spouse with Bancor and offers dual rewards to users.
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Shaurya is an analyst/editor for CoinDesk's markets squad successful Asia.
Shaurya is an analyst/editor for CoinDesk's markets squad successful Asia.
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