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Bancor version 3 launched on mainnet

Bancor version 3 launched on mainnet, Crypto Trading News
bankor, the prominent decentralized finance protocol, has announced the launch of its version 3 called Bancor 3. The mainnet release comes six months after the project first released the details of the features.

Bancor 3 goes live

According to the official blog post, Bancor’s latest release focuses on fostering broad and sustained participation in on-chain liquidity markets by simplifying passive liquidity provision in automated market maker (AMM) liquidity pools.

After development, Mark Richardson, product architect at Bancor, said in a statement:

“Bancor has spent the last few years creating the equivalent of a high-yield savings account for DeFi to create: deposit your fortune, sit back and earn. By helping Bancor 3 token projects and their users to tap into DeFi yields safely and easily, Bancor 3 creates robust and resilient on-chain liquidity markets that drive healthy token economies.”

our recommendation Bancor version 3 launched on mainnet, Crypto Trading News

Bancor first revealed version 3 details in November last year. The three-stage launch includes – Dawn – the beginning of bankor 3. This phase aims to address friction points in the previous protocol version. It will also set the stage for the subsequent steps – Sunrise and Daylight.

improvements and features

Bancor emphasized that token project strategies to create long-term liquidity have so far been ineffective. Due to the risks associated with negative returns from fickle losses, many token holders are reluctant to offer their assets to liquidity pools, the blog argued.

As a result, a large portion of liquidity mining rewards programs “land in the hands of mercenary yield farmers who hop from pool to pool liquidating earned rewards into their asset of choice,” leaving token projects stranded.

Bancor said the main idea is to put DeFi liquidity back in the hands of DAOs and their token holders. As such, the enhanced Version 3 introduces a new protocol architecture with Omnipool, unlimited unilateral staking as a means to provide liquidity and earn returns in a single token, with returns being automatically compounded chainlink Keepers integration, fickle loss protections, and revamped tokenomics, among other key features.

According to the team, the V3 release already has over 30 token projects and DAOs like Polygon (MATIC), Synthetix (SNX)brave (BAT), Flexa (AMP), Yearn (YFI), Enjin (ENJ) and WOO Attracted Network (WOO) and Nexus Mutual (wNXM). The protocols provide seed liquidity on the network or liquidity incentives using Bancor’s new customizable auto-compounding rewards system.

Source: Crypto News Deutsch

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