Gnosis Chain and Balancer Continue to Revolutionize the DeFi Landscape with Latest Integration
Balancer pools are now available on Gnosis Chain for use by all parties in the Gnosis ecosystem.
LOS ANGELES, March 22, 2023 /PRNewswire-PRWeb/ — Gnosis Builders, the ecosystem team for Gnosis Chain, a full EVM (ether Virtual Machine) Layer 1 blockchain that prioritizes decentralization and security announces the latest integration with the Balancer decentralized finance protocol. This integration brings deep liquidity to the Gnosis Chain and allows users to stake funds with apps like the Balancer App and the DeFi Yield Booster Aura. GnosisDAO, in partnership with Karpatkey, has been driving the integration and will be the first adopters of the liquidity pools.
Balancer has revolutionized the DeFi landscape by providing access to secure infrastructure for liquidity applications. Balancer’s technology offers more flexibility when creating custom pools. Compared to standard liquidity pools, Balancer’s superior performance includes reduced slippage, better trade prices, and the ability to route trades across multiple pools at the best price and reduced cost.
“We are excited to have Balancer launch on Gnosis Chain and make its innovative pools available to our users and DAO,” said Gnosis co-founder, Stephen George. “As Gnosis Chain continues to decentralize and strengthen its network, we aim to become a larger hub for DeFi activity, and Balancer is one of the top projects in DeFi.”
“As treasury developers of GnosisDAO, we are proud to have contributed to the successful deployment of Balancer on Gnosis Chain,” said Karpatkey co-founder, Marcelo Ruiz deOlano. “Through our coordination with the teams, providing initial liquidity and designing the first set of liquidity pools, we helped facilitate the integration of one of the most powerful DeFi protocols with the most decentralized ether side chain. This is another step in strengthening the DeFi ecosystem on the Gnosis chain, and we look forward to continuing to support its growth along with the broader community.”
Balancer reduces the need for frequent adjustments and constant monitoring with automatic rebalancing and adjustable weighting. Once contracts are provisioned on Gnosis Chain through this integration, many of the costs associated with using Balancer will be eliminated and gas costs will be minimal. All tokens are wrapped through the credit market of Agave, a fork of Aave on Gnosis, further boosting their returns.
“Gnosis is a very promising and OG chain. Deploying it there is an exciting next step for our ecosystem and further strengthens the connections between Gnosis and Balancer,” he said Fernando Martinelli, CEO and co-founder of Balancer Labs. “By working with Karpatkey, our communities can collaborate more effectively and help shape the future of DeFi liquidity on L2s.”
For media inquiries please contact Karen Hepp at (310) 260-7901 or Karen(at)MelrosePR(dot)com.
About Gnosis Builders
Gnosis Builders is the ecosystem team for Gnosis Chain, a full EVM (ether Virtual Machine) sidechain with over 100,000 validators that prioritize decentralization and security. Gnosis Builders constructs critical infrastructure, tools and resources to enhance the Gnosis Chain experience. Through its hands-on, open-source, and permission-free development, Gnosis Builders seeks to enable a rich world of blockchain experiences, from essential world-class applications to unique developer-made offerings like DeFi, DAO tools, and games.
media contact
Karen HeppMelrose PR, 310-260-7901, [email protected]
SOURCE Melrose PR