Whale Tank: What Is The Process Of Moving A Liquidity Pool From Version 1 To Version 2 On Balancer?
Bees.Social welcomes Marta with Balancers as a guest on Whale Tank.
Automated market maker, Balancer reveals today a widely-anticipated 2nd version of its decentralized exchange protocol, including a host of upgrades fixated on “security, flexibility, capital efficiency and gas efficiency" — however yield farmers are left questioning about the necessary liquidity mining information, which are still in development. "The primary architectural modification between Balancer V1 and Balancer V2 is the shift to a single vault that holds and also takes care of all the assets included by all Balancer pools,” wrote Balancer co-founder and Chief Executive Officer Fernando Martinelli in an article.
The purpose for the new liquidity mining program will center on being agile enough to quickly offer pools for “hot tokens” and the trading fees they’ll generate, while also ensuring sustainability and simplicity, as opposed to V1's focus on "long tail" assets. McDonald also wrote that improvements to the liquidity mining program and the community incentives it provides are both part of a long-term vision for fully decentralized governance. The announcements have been a boon for the price of the platform’s Balancer Protocol Governance Token (BAL), which is up nearly 20% today and 135% on the month, per Coingecko — a top 10 riser on both time frames. The launch and the new liquidity mining parameters are currently scheduled for March. While the rivalry between SushiSwap and Uniswap has been commanding the headlines recently, Balancer V2’s features and a retooled liquidity mining program may make the AMM market a three-horse race.
All three protocols are currently ranked among the top 10 in total value locked, with Balancer sitting just under 1 billion while SushiSwap and Uniswap claim $2.5 and $3.25 billion, respectively.
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