We are excited to announce Aave (LEND) as a Bancor V2 launch pool.
Once live, the new Bancor V2 pool will allow LEND holders to provide liquidity and earn a share of the pool’s trading fees while maintaining their 100% exposure to the token.
While existing automated market maker (AMM) solutions require liquidity providers to split their holdings into multiple reserve assets, Bancor’s V2 solution gives LPs the ability to:
- Maintain 100% exposure to LEND
- Mitigate impermanent loss
- Benefit from 20X liquidity amplification
The LEND pool will utilize Chainlink’s LEND/ETH and BNT/USD decentralized price feeds to achieve these novel features.
Bancor V2 code is currently undergoing formal verification and auditing as well as a public bug bounty prior to its Mainnet release. Once Mainnet is live, LEND will be among the first pools to go live on the new system.
In preparation for launch of the LEND pool, Bancor will be conducting an AMA in the Aave Discord Server on Tuesday August 4th at 10:00 AM EST to answer any questions about the functionality of the pools and the process of providing liquidity. User guides on liquidity provision will be shared closer to the launch date.
We are thrilled with this collaboration, and look forward to having the LEND community participate in the early phases of Bancor V2.
About Aave
Aave (fun fact: the name is taken from the Finnish word for “ghost”) is a decentralized, open-source, and non-custodial protocol for money market creation on Ethereum. Depositors earn interest by providing liquidity to lending pools, while borrowers can obtain loans by tapping into these pools with variable and stable interest rate options. Aave Protocol is unique in that it tokenizes deposits as aTokens, which accrue interest in real time. It also features access to Flash Loans, the first uncollateralized loan option in DeFi. Currently, Aave Protocol offers 2 markets: the Aave Market and the Uniswap Market.
Website | Twitter | Aave blog | Discord
About Bancor
Bancor is an on-chain liquidity protocol that enables automated, decentralized exchange on Ethereum and across blockchains. The protocol is made up of a series of smart contracts designed to pool liquidity and perform peer-to-contract trades in a single transaction with no counterparty. Users add liquidity to automated market makers in exchange for trading fees, BNT staking rewards and voting rights in the Bancor DAO. Since 2017, Bancor has processed billions in trade volume across thousands of tokens, with millions in fees generated by liquidity providers.
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