Balancer Protocol Expands to Avalanche
According to recent reports, Balancer Protocol, a leading player in the Decentralized Finance (DeFi) sector and one of the largest Decentralized Exchanges (DEXes) and Automated Market Makers (AMMs), boasting over $1 billion in Total Value Locked (TVL), has now launched on Avalanche. This move is seen as a strategic effort by Balancer to stimulate growth in liquid staking on Avalanche and offer participants new possibilities within the DeFi space.
New DeFi Opportunities with Balancer’s Composable Stable Pools
Balancer’s Composable Stable Pools are designed with a unique algorithm to ensure that the full power of yield-bearing tokens is directed towards liquidity providers. By extending its operations to Avalanche, Balancer is aiming to host the liquidity of several tokens including sAVAX by BENQI, ankrAVAX by Ankr, yyAVAX by Yield Yak, and ggAVAX by GoGoPool. This move is expected to significantly boost the Avalanche Liquid Staking Token (LST) market.
Core Stake: A Tool for Validating and Delegating AVAX
In other news, Core Stake has been launched as a go-to tool for validating and delegating $AVAX to secure the Avalanche network. This platform aims to make blockchain staking as simple as using a Web2 application, thus enabling a wider range of users to engage with and help secure the Avalanche network.
Securing the Avalanche Network with Core Stake
A significant portion of AVAX’s supply is staked through Core Stake, contributing to the security of the Avalanche Network while generating rewards for validators and delegators. Users can engage directly with the Avalanche network without any intermediaries or third-party protocols. They can either validate directly or delegate to an existing validator. The platform also provides delegators with the flexibility to choose from available validators and delegate easily with parameters like staking period, uptime, and delegation fees under their control.