Bancor Protocol, a decentralized staking platform that allows investors to earn with single-token exposure and full protection from impermanent loss, has released snippets of its highly-anticipated third version.
In an official press release shared with CryptoPotato, the project noted that the new version, dubbed “Bancor 3”, will introduce several new features aimed at increasing transaction volumes and allowing users to earn their favorite tokens seamlessly.
Features of Bancor 3
Some of the new features that will be introduced in Bancor 3 include an Omnipool that will allow all trades on the network to be carried out in one transaction, reducing gas fees and increasing efficiency.
In addition, the Infinity Pool will remove deposit limits on Bancor liquidity pools, as well as the introduction of trading liquidity, which is used for market making, and redundant liquidity, which is used in trading. internal and external compensation strategies.
With Bancor 3, users will gain access to full impermanent loss protection from day one of staking their tokens, as opposed to v2.1, which offers impermanent loss protection after 100 days.
Other cool features that Bancor 3 will use include multi-chain and Layer 2 support, third-party impermanent loss protection, integration of Chainlink Keepers to promote efficient token burning, and more. others.
Speaking on the development, Bancor’s Head of Growth, Nate Hindman, said:
“Across the industry, the impermanent loss issue threatens to undermine DeFi’s fundamentals by rendering pools of liquidity unusable by ordinary users and accessible only to the most sophisticated and wealthy users.
We must prevent DeFi from becoming a playground for the rich and connected to extract value from protocols and dump on everyone else — and this starts with fixing liquidity pools. Bancor 3 marks a new day for DeFi — one in which people and projects retake DeFi’s core building block to bring community-sourced liquidity to masses.”
Bancor 3 arrives in three phases
The staking platform has revealed that it will launch Bancor 3 in three separate phases called Dawn, Sunrise, and Daylight. These features will go live as soon as the first phase, Dawn, is deployed.
The project noted that the code for Dawn will be open-sourced in the coming weeks via a public bug bounty and activated based on a vote by the BancorDAO.
