Injective Integrates with Balanced, Expanding DeFi Capabilities
Injective, a cross-chain DeFi platform, has recently integrated with Balanced, introducing the bnUSD stablecoin and expanding its DeFi capabilities. The integration of Balanced with Injective’s mainnet brings a range of benefits to users looking to engage in decentralized finance.
Enhanced DeFi Functionalities
With the launch of Balanced on Injective, users can now access a variety of features:
- Ability to borrow the native stablecoin (bnUSD)
- Swap assets cross-chain
- Transfer assets to Injective from any network integrated with Balanced
Users can enjoy near-instant transaction finalization and minimal fees, which are key characteristics of Injective’s decentralized applications.
Cross-Chain Asset Swapping
Balanced also enables cross-chain asset swaps, providing users with seamless transactions across different networks:
- Users can swap assets like ETH on Arbitrum for INJ on Injective with a single click
- Liquidity providers share 50% of fees generated from traders
- Traders encounter variable bridge fees based on trade size and a 0.3% swap fee per trade step
Supported native assets can be sent cross-chain to Injective for immediate use within the platform.
Impact on the Injective Ecosystem
The partnership with Balanced has a significant impact on the Injective ecosystem:
- Broader asset options for trading and yield farming strategies with the inclusion of bnUSD
- Enhanced cross-chain DeFi capabilities for implementing strategies with INJ and bnUSD across different ecosystems
About Injective
Injective is a fast and interoperable layer one blockchain designed for building top-notch Web3 finance applications. It offers developers robust modules for creating innovative decentralized apps, with its native asset, INJ, powering the ecosystem. Injective has received support from prominent investors like Binance, Jump Crypto, Pantera, and Mark Cuban.
About Balanced
Balanced is the host of the Balanced Dollar stablecoin (bnUSD) and operates an exchange serving various blockchains connected to the ICON Network. Governed by its community through the Balance Token (BALN), Balanced allows users to earn BALN by borrowing bnUSD or providing liquidity. The platform operates on multiple chains, including Arbitrum, Archway, Avalanche, Base, BNB Chain, Havah, ICON, and Injective.
Hot Take: Engage in Expanded DeFi Opportunities with Injective and Balanced Integration
As a crypto enthusiast, this collaboration between Injective and Balanced opens up a world of possibilities in the decentralized finance space. Take advantage of the enhanced DeFi functionalities, cross-chain asset swapping, and broader asset options available within the Injective ecosystem. Stay tuned for more exciting developments in the DeFi landscape!
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