A bold strategy for Symbiosis. The liquidity protocol will use stablecoins to ensure liquidity providers don’t incur any impermanent loss. (Reporting via _prashantjha)
protocols have seen a significant outflow of funds from the market, maintaining liquidity has become even more challenging. Liquidity plays a central role in the DeFi ecosystem, and many protocols have, over time, come up with various new solutions to keep liquidity pools brimming. The latest trend in the liquidity market is focused on cross-chain solutions.
Nick Avramov, co-founder of Symbiosis, told Cointelegraph that the protocol has secured initial liquidity from Binance Labs, Blockchain.com, Amber and a few others, and is hoping to gain more LPs once it hits a transaction volume of around $100 million.
The liquidity provider has also paid particular attention to the interface to ensure that the user at the front end gets a seamless experience. The protocol eliminates the need for switching between complex virtual networks while performing swaps. All the processes happen on the back end using smart contracts.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Argentinian Exchange Buenbit Launches Crypto Loans, Plans New Funding After Layoffs.Buenbit, a crypto exchange based in Argentina, has launched a lending product that allows the withdrawal of nuARS, a stablecoin tied to the Argentinian peso, using DAI as collateral. andresengler reports
Leer más »
How to Preserve Capital During Inflation Using Cryptocurrencies?With inflation hitting 40-year highs and hyperinflation a consistent problem in numerous countries, could stablecoins provide a way for people to store their money and avoid devaluation? 👀
Leer más »
Lido Finance proposal wants Lido DAO to sell 2% of all LDO tokensIf the deal gets approved, the Lido treasury will receive $29 million in the DAI stablecoin from investors.
Leer más »
'One of them put a gun against my head': Uber driver recounts terrifying carjacking incidentThe gun used in the carjacking was used in several other robberies, according to police.
Leer más »
Bay Area leads the way in new electric car salesElectric vehicle penetration in the Bay Area is considerably above the rest of California and the United States. In San Francisco, a total of 3,871 zero-emissions vehicles were sold in the first half of the year.
Leer más »
Tourists stuck in China resort city after Covid lockdownConcerns are growing about the impact of China's 'zero-Covid' policy on its economy.
Leer más »