Balanced, a cross-chain platform allowing users to borrow, swap and bridge native assets cross-chain, is now live on the Injective mainnet. This launch introduces the overcollateralized bnUSD stablecoin to the Injective ecosystem. Balanced allows users to borrow the Balanced native stablecoin (bnUSD), swap cross-chain, and transfer assets to Injective from any network integrated with Balanced. As with all dApps on Injective, users can expect near-instant transaction finalization and fees that cost mere cents.
What can users do on Balanced?
Using any native asset as collateral, users can borrow up to two-thirds of the value in bnUSD to be utilized across supported Injective DeFi protocols. A fixed 0.2% loan fee and a 2% annual interest rate apply*. A user’s debt is linked to the value of collateral and can be repaid from any chain at any time. In fact, because bnUSD is natively cross-chain, users can utilize the stablecoin right away, as there is no need for wrapping or unwrapping.
Balanced also enables users to swap assets cross-chain. For example, a user with ETH on Arbitrum can seamlessly swap to INJ on Injective in one-click. With Balanced, liquidity providers will also share in 50% of the fees generated from traders. For traders, there is a variable bridge fee, depending on the size of the trade as well as a 0.3% swap fee for each step in the trade route.
Any supported native asset can just as easily be sent cross-chain to be utilized in the Injective ecosystem. A user simply needs to choose the asset they desire to send and the destination chain they wish to receive on and in one click the transaction is complete.
What This Means for the Injective Ecosystem
The integration with Balanced expands the Injective ecosystem:
- Broader Asset Options: The addition of bnUSD to Injective expands the variety of assets available for trading and yield farming strategies.
- Cross-Chain DeFi Capabilities: With seamless asset transfer between other ecosystems and Injective, users can now implement cross-chain DeFi strategies with INJ and bnUSD.
To get started on Balanced, visit: app.balanced.network
About Injective
Injective is a lightning fast interoperable layer one blockchain optimized for building the premier Web3 finance applications. Injective provides developers with powerful plug-and-play modules for creating unmatched dApps. INJ is the native asset that powers Injective and its rapidly growing ecosystem. Injective is incubated by Binance and is backed by prominent investors such as Jump Crypto, Pantera and Mark Cuban.
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About Balanced
Balanced is home to the Balanced Dollar stablecoin (bnUSD), and includes an exchange to service all blockchains connected to the ICON Network.
As a decentralised protocol, Balanced is governed by its community through the Balance Token (BALN). You can buy BALN from the Balanced exchange, and earn it when you borrow bnUSD or supply liquidity. When locked, BALN holds voting power and boosts your earning potential.
You can use Balanced on Arbitrum, Archway, Avalanche, Base, BNB Chain, Havah, ICON, and Injective.