Business Wire

Bancor 3, The Ultimate DeFi Liquidity Solution, Goes Live With Launch Partners Polygon, Synthetix, Brave, Flexa, Yearn, Nexus Mutual & 30+ DAOs

Share

Bancor (BNT), the inventor of DeFi and liquidity pools, has announced its new protocol version, Bancor 3, is now live. Bancor 3 is set to be the ultimate automated DeFi liquidity solution empowering token projects and their holders to drive healthy on-chain liquidity in their native tokens.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220506005455/en/

To view this piece of content from mms.businesswire.com, please give your consent at the top of this page.

Bancor 3 (Graphic: Business Wire)

The launch has already attracted 30+ token projects and DAOs including Polygon (MATIC), Synthetix (SNX), Brave (BAT), Flexa (AMP), Yearn (YFI), Enjin (ENJ), WOO Network (WOO) and Nexus Mutual (wNXM), which are providing seed liquidity on the network or offering liquidity incentives via Bancor’s new customizable Auto-Compounding Rewards system.

Token projects and DAOs can use Bancor to:

  • Maintain liquid markets for their native token, facilitating cheaper token trading.
  • Enable token holders to earn safer, higher yields exclusively in their native token (Single-Sided Staking with 100% Impermanent Loss Protection).
  • Deploy Auto-Compounding Rewards that minimize sell pressure and are simultaneously used as fee-generating liquidity from day one.

Driving Sustainable Liquidity in DeFi

Decentralized liquidity is the backbone of DeFi, yet strategies employed by token projects to create long-term liquidity have proven ineffective. Due to the risk of negative returns from Impermanent Loss, most token holders today are reluctant to provide their tokens to liquidity pools. Meanwhile, liquidity mining rewards programs largely end up in the hands of “mercenary yield farmers” who hop from pool to pool liquidating earned rewards into their preferred asset, leaving the token projects high and dry.

Roughly two years after yield farming burst onto the scene and spawned the first “DeFi Summer” in 2020, DAOs and token communities are still searching for a safe, simple and sustainable way to drive decentralized liquidity.

Today, Bancor launches out of beta its new and improved third version, aimed at creating sustainable on-chain liquidity for token projects by giving participants access to Single-Sided Staking with no risk of Impermanent Loss, and providing them with Auto-Compounding and Dual Rewards. Liquidity providers are less likely to withdraw liquidity when rewards expire since they’re always protected from value loss and can earn with zero maintenance.

Bancor 3: The Ultimate DeFi Liquidity Solution

Bancor 3 introduces novel features that encourage broad and sustainable involvement in on-chain liquidity markets by dramatically simplifying passive liquidity provision in automated market-maker (AMM) liquidity pools. Key features include:

  • Omnipool: A new protocol architecture that consolidates token liquidity in a single, virtual vault, minimizing gas costs and increasing efficiency and usability at every touchpoint.
  • Unlimited Single-Sided Staking: Provide liquidity and earn yield in a single token; no need to pair 50/50 or buy another asset.
  • Auto-Compounding Earnings: Trading fees and rewards auto-compound with zero transaction fees, and are simultaneously used as liquidity inside the pool from day one. Auto-compounding is optimized via an integration with Chainlink Keepers.
  • Instant Protection: All deposited tokens receive 100% Impermanent Loss Protection instantly.
  • Single-Sided Pool Tokens: The first-ever fungible Single-Sided Pool Tokens. Unlike normal Pool Tokens, Single-Sided Pool Tokens only rise relative to their underlying assets, creating a new kind of “up only” money lego that is easily composable in other DeFi products.
  • Smart Portfolio: A new front-end interface gives full transparency into actual net earnings on deposited tokens.
  • Dual Rewards: Third-party token projects can now incentivize liquidity on Bancor with auto-compounding rewards free from Impermanent Loss.
  • Revamped Tokenomics: New BNT tokenomics create a more cost-efficient system for directing protocol liquidity to the highest-earning liquidity pools.

Mark Richardson, Product Architect at Bancor (BNT), 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 creates robust and resilient on-chain liquidity markets that drive healthy token economies.”

Hamzah Khan, Head of DeFi and Labs at Polygon (MATIC), said:

“Polygon is excited to utilize Bancor 3 to build decentralized liquidity for MATIC token holders. Bancor’s single-sided liquidity and impermanent loss protection mechanisms make it easier for our DAO and token holders to safely stake and earn MATIC, while driving community-sourced liquidity that powers low-slippage MATIC trading.”

Tyler Spalding, Co-founder of Flexa (AMP), said:

“Bancor has become one of the largest sources of on-chain AMP liquidity for a reason: It is a safe and simple way to stake. With Bancor 3, we’re doubling down on our belief in Bancor by providing auto-compounding rewards to our token holders who stake their AMP on Bancor.”

Useful links:

Bancor App

Bancor 3 Launch Details

About Bancor Protocol

Bancor is the only DeFi trading and staking protocol with Single-Sided Liquidity & 100% Impermanent Loss Protection. Overseen by the Bancor DAO, the protocol's mission is to bring DeFi mainstream by providing the simplest and safest way to trade tokens and earn passive income in DeFi.

Launched in 2017, Bancor was the first DeFi protocol. Today, it generates millions in fees per month for depositors, offering up to 30% APR on 150+ tokens like ETH, WBTC, LINK, MATIC, AMP, SNX & more. Bancor is the preferred treasury management solution of 30+ DAOs including Polygon, Nexus Mutual, UMA, KeeperDAO & WOO Network DAO.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Nate Hindman
Nate@Bancor.Network

About Business Wire

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Aizon Launches New AI-powered eBR Light Solution to Enhance Manufacturing Productivity in Collaboration with Euroapi18.9.2024 19:00:00 EEST | Press release

Aizon, an Artificial Intelligence (AI) SaaS provider dedicated to transforming pharmaceutical manufacturing operations, is launching a new product called Aizon Execute, an innovative eBR (Electronic Batch Record) software product, developed in collaboration with Euroapi, a leading global API manufacturer. This collaboration was born out of the need to digitize operations towards more data-driven manufacturing - focusing on the essential user needs while avoiding the heavy lift currently associated with going paperless in manufacturing. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240918037613/en/ Aizon Execute is a modern, user-centric, lightweight product designed to adapt to small-scale productions and highly flexible plants like chemical API CDMOs - and has the potential to become the true backbone of digital transformation journeys. Aizon Execute light eBR is designed to facilitate the rapid transition from paper-based

Headline Closes $865 Million to Invest in Growth-Stage Tech Companies18.9.2024 18:53:00 EEST | Press release

Headline today announced Headline Global Growth IV with $865M1 of capital committed to the strategy to support companies at their Growth inflection points, Series B and beyond. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240918812241/en/ Headline's Global Growth Equity Team (Photo: Business Wire) The Global Growth strategy has three distinct advantages: a diverse and experienced team, extensive geographic coverage, and advanced in-house built technology for sourcing (Searchlight) and analytics (DeepDive). Led by seasoned Growth investor Shalini Rao, the Growth team is committed to identifying and nurturing "Paradiesvögel"—tenacious technology founders poised for global success. Recent team additions to Headline Global Growth include Nancy Xiao, Trevor Neff, Reda Bensaid, Jake Horwitz and Austin Hack, all of whom will work out of Headline’s San Francisco and European offices. Global Growth IV represents the evolution of gr

New Garmin G5000 Avionics Upgrade Now Available for Cessna Citation XLS Aircraft at Textron Aviation Service Centers18.9.2024 18:00:00 EEST | Press release

Textron Aviation today announced customers can now upgrade their Cessna Citation XLS+ and Citation XLS Gen2 aircraft with the Garmin G5000 integrated flight deck following Garmin’s receipt of FAA supplemental type certification (STC) for the avionics upgrade. Customers can have the upgrade installed at selected domestic Textron Aviation Service Centers to add significant technological advances and new capabilities to their aircraft. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240918046690/en/ New Garmin G5000 avionics upgrade now available for Cessna Citation XLS aircraft at Textron Aviation Service Centers. (Photo: Garmin, Textron Aviation) Beechcraft, Cessna and Hawker customers receive factory-direct support, maintenance and modifications by Textron Aviation Inc., a Textron Inc. (NYSE: TXT) company, through a global network of service and part centers, mobile service units and 24/7 1CALL AOG support. “The G5000 avionic

ProAmpac Brings Fiberization and Sustainable Packaging Innovation to FACHPACK 202418.9.2024 17:45:00 EEST | Press release

ProAmpac, a leader in flexible packaging and material science, will showcase its latest sustainable packaging solutions at FACHPACK 2024 from September 24-26 in Nuremberg, Germany. At stand 5-126, ProAmpac will present advanced offerings such as ProActive Recyclable® FibreSculpt, ProActive Intelligence® Moisture Protect MP-1000, and the ProActive Recyclable® RP-1050, alongside its RAP Packaging line of fiber-based food-to-go solutions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240918028305/en/ FibreSculpt (Photo: Business Wire) “We invite attendees to explore ProAmpac’s innovative solutions driving the fiberization of packaging,” said Alex Baumgartner, president of ProAmpac’s European division. “From our MP-1000 technology, which transforms moisture control in powdered beverages and nutraceuticals, to our fiber-based food-to-go packaging, these advancements meet the growing demand for sustainable, high-performance packa

Takeda Commits Over $32 Million in Five New Global Corporate Social Responsibility Partnerships to Further Drive Health Impact in 93 Countries18.9.2024 17:00:00 EEST | Press release

Takeda (TOKYO:4502/NYSE: TAK) today committed JPY4.6 billion (Approx. USD 32 million) to five new Global Corporate Social Responsibility (CSR) partners as part of the company’s ongoing commitment to improving health systems resiliency in low and middle-income countries around the world. This commitment demonstrates Takeda’s focus on tackling systemic disparities and supporting local leadership in strengthening health infrastructure, empowering health workforce, and increasing local knowledge and capacity to improve equitable and sustainable healthcare access and delivery. By 2030, these new collaborations are anticipated to extend Takeda’s impact to 27 million people across 93 countries, raising the total contributions from Takeda’s Global CSR Program to over JPY 28.8 billion (Approx. USD 199.1 million) across 34 significant partnerships since it began in 2016. The five new partners were selected by more than 22,000 Takeda employees across 80 countries and regions through a company-wid

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom
HiddenA line styled icon from Orion Icon Library.Eye