Bancor Protocol Announces Features of Its Long-Awaited V3

Bancor Protocol, a decentralized staking platform that enables traders to earn with single-token publicity and full safety from impermanent loss, has launched snippets of its highly-anticipated third model.

In an official press launch shared with CryptoPotato, the venture famous that the brand new model, dubbed “Bancor 3,” will introduce a number of new options geared towards growing buying and selling volumes and permitting customers to earn their favourite tokens seamlessly.

Features of Bancor 3

Some of the brand new options that can be launched in Bancor 3 embrace an Omnipool that can permit all trades on the community to be carried out in a single transaction, lowering fuel charges and growing effectivity.

Additionally, the Infinity Pool will take away deposit limits on Bancor liquidity swimming pools, together with the introduction of buying and selling liquidity, which is used for market-making, and superfluid liquidity, which is utilized in each inside and exterior fee-earning methods.

With Bancor 3, customers will acquire entry to full impermanent loss safety from day one of staking their tokens, versus v2.1, which presents impermanent loss safety after 100 days.

Other thrilling options that Bancor 3 will make use of embrace multichain and layer 2 help, third-party impermanent loss safety, integration of Chainlink Keepers to advertise environment friendly token burning, and plenty of extra.

Speaking on the event, Bancor’s Head of Growth, Nate Hindman, stated:

“Across the business, the problem of impermanent loss threatens to undermine the core tenets of DeFi by making liquidity swimming pools unusable by unusual customers, and accessible to solely essentially the most subtle and rich customers.

We should stop DeFi from changing into a playground for the wealthy and related to extract worth from protocols and dump on everybody else — and this begins with fixing liquidity swimming pools. Bancor 3 marks a brand new day for DeFi — one by which folks and tasks retake DeFi’s core constructing block to convey community-sourced liquidity to plenty.”

Bancor 3 Coming in Three Phases

The staking platform revealed that it will likely be launching Bancor 3 in three distinct phases dubbed Dawn, Sunrise, and Daylight. These options will go reside as quickly as the primary section, Dawn, is deployed.

The venture famous that the code for Dawn can be open-sourced within the coming weeks by way of a public bug bounty and activated primarily based on a vote by the BancorDAO.

Leave a Comment

Your email address will not be published. Required fields are marked *