ZUG, Switzerland, June 9, 2022 (GLOBE NEWSWIRE) — Following Bancor 3’s soft launch in mid-May, more than 100 tokens are going live on the decentralized trading and liquidity protocol, including AAVE, AXS, BAT, ENJ, MATIC , SNX , USDC, USDT, wNXM, WOO and YFI. Users can now provide liquidity to the newly launched token on bancor.net and earn one-sided returns without the risk of temporary loss.
Bancor’s launch comes at a time of reckoning for the DeFi industry. Token holders have grown suspicious of the high-risk, high-frequency strategies that have propelled DeFi’s growth but often resulted in severe user losses. Users are increasingly turning to safer places to park their assets, where returns are driven by real user activity rather than short-term inflationary stimulus.
Since Bancor 3 launched last month with four tokens, ETH, LINK, DAI and BNT, more than 2,000 users have provided over $300 million in liquidity. Average returns are steadily increasing, with the 24-hour APR on LINK recently fluctuating between 5% and 10% from trading fees alone. With over 100 more tokens going live, Bancor is poised to become the preferred solution for risk-averse users to not only HODL through continued market volatility, but also earn a passive, protected return on their favorite tokens.
Bancor 3: The HODL & Earn solution for the next chapter of DeFi
Two years after the DeFi summer of 2020, most DeFi users are tired of bouncing between unstable yield farms, chasing misleading APRs, and suffering the side effects of inflationary stimulus that ultimately hurt the token projects offered to them.
Bancor helps token projects build sustainable on-chain liquidity without the need for costly incentives by giving token holders the ability to deposit into decentralized liquidity pools and with single asset exposure, auto-compounded profits and 100% protection against transients earn loss. Token holders are encouraged to remain in pools over the long term due to their ability to provide liquidity with less risk and little maintenance.
“The DeFi industry is now looking for more reliable sources of passive income,” says Arthur Cheong, founding partner at DeFiance Capital, which holds a position in Bancors Network Token, BNT.
Cheong said, “Bancor 3 is evolving into the DeFi home for HODLers. With one-way liquidity and instant impermanent loss protection, Bancor allows us to earn on our long-term holdings with less risk and little to no maintenance. It is truly a ‘set and forget’ strategy for both bull and bear markets and we are pleased to see Bancor 3 opening its doors to additional assets in our portfolio.”
Mark Richardson, Chief Product Officer at Bancor, said: “We are excited to welcome the next 100+ tokens to Bancor 3. We expect that the innovations underlying Bancor 3 will trigger a new wave of interest in DeFi, just like in the summer of 2020. But this time, liquidity will be sustainable because the incentive structures and loss protection encourage liquidity to stay.”
Bancor 3’s codebase recently received a 96% safety rating from security firm DeFiSafety. As of this writing, this is the second-highest score of over 240 protocols reviewed by the company.
What to expect
Users can now earn DeFi earnings with unlimited one-way liquidity and instant impermanent loss protection for all 100+ tokens on Bancor 3. Dual Rewards and Auto-Compounding Rewards are in the final stages of testing and auditing and will be enabled shortly to continue to support competitive, protected returns across the network. Following the release of Dual Rewards, more than 30 DAOs plan to offer IL-protected incentives for their Bancor 3 pools.
Visit the brand new bancor.network to try trading with the new Bancor 3 protocol and provide liquidity.
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