Balancer Will Launch on NEAR Protocol

Balancer Will Launch on NEAR Protocol

By Abhimanyu Krishnan | News | 27 Oct 2020


The NEAR protocol team announced on October 26 that automated market maker Balancer (BAL) will soon be integrated into the network.

  • Ethereum dApps leverage NEAR for better speed and cost, without having to rebuild the code and keeping their user bases
  • Balancer and NEAR will both offer grants for developers to speed up the integration, with a focus on developing the Balancer frontend for NEAR and integrating Balancer into the NEAR wallet
  • The Near team has said that its network offers lower gas fees, latency, and a more flexible account, with the purpose of being more scalable for real-world applications
  • Users will be able to seamlessly migrate their assets between NEAR and Ethereum (ETH) to take advantage of higher scalability and lower transaction fees on the former
  • No date for the completed integration has been provided
  • In terms of total value locked in, Balancer is the third most valuable DEX in the market with $309.6 million locked in; besides the Balancer Exchange, the protocol also provides automated index funds and liquidity bootstrapping pools

Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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