Balancer announced the official launch of V2 with multiple new features and upgrades. The new version aims at a better experience with lower gas fees and high capital efficiency in liquidity providing.
Balancer V2 is now ready to use for developers and end-users. There will be considerable changes in the Balancer community in the coming weeks as the V2 will become the main source of AMM providing for DeFi use-cases.
Better Experience for DeFi Users
Upgrading DeFi services and applications is a must for ensuring every user segment is enjoying the best experience. These protocols and programs need to be updated to mitigate risks, improve financial efficiency, and even rebrand. Balancer V2 is the latest version of Balancer with various upgrades and new services for DeFi use-cases. The most considerable one can be generalized protocols for AMMs in V2.
Balancer V2 has changed in various fields from functioning and capital efficiency to branding. It offers a redesigned user interface. Besides, the brand has experienced some changes, and the new version is live on the Balancer.fi address.
Another important addition is the community multi-sig that is the result of a previous community vote. Liquidity migration is now ready for traders, and they can move their holdings to V2 pools. Besides, there is a new BAL liquidity mining available on Balancer V2 for LPs. Balancer V2 also has been successful in partnering with Gauntlet and offers dynamic-fee pools.
The most interesting feature in a DeFi can be lower gas fees for transactions. Balancer V2 claims a 40% reduction in gas fees in the new protocol. But until more liquidity providers move their holdings to the new version, we can expect Balancer V1 to still provide better prices for exchanges.
As mentioned above, the new version comes with a new brand for Balancer, too. According to the announcement:
“On the surface, Balancer.fi offers the same functionality as before. On the backend, trades will be routed through the most efficient protocol. Our expectation is that V1 will continue to provide the best price until a substantial amount of liquidity migrates to V2, at which point we expect trades will be routed through V2’sV2’s Protocol Vault resulting in lower gas costs and better pricing.”
V2 Liquidity Mining is the new program from Balancer that claims to be more trustless for BAL mining. The Balancer governance community had voted for this improved trustless liquidity mining, and the new program is now ready to use.
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