Bancor Protocol Announces Features of Its Long-Awaited V3

Bancor Protocol, a decentralized staking platform that permits buyers 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 challenge 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 will probably be launched in Bancor 3 embody an Omnipool that may enable all trades on the community to be carried out in a single transaction, lowering gasoline 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 inner and exterior fee-earning methods.

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

Other thrilling options that Bancor 3 will make use of embody multichain and layer 2 assist, 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 trade, the problem of impermanent loss threatens to undermine the core tenets of DeFi by making liquidity swimming pools unusable by abnormal customers, and accessible to solely probably the most refined 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 wherein folks and initiatives retake DeFi’s core constructing block to carry community-sourced liquidity to lots.”

Bancor 3 Coming in Three Phases

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

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


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