The upcoming REN and renBTC Bancor V2 launch pools are set to expand the already booming DeFi realm. Such quick pace of advances in DeFi is partly due to the great crypto wealth shift that is currently underway. The REN and renBTC Bancor V2 launch pools represent the growing acceptance of alternative finance powered by potent crypto tools.
— Ren (@renprotocol) July 8, 2020
REN protocol has joined hands with Bancor to bring innovative liquidity solution on the burgeoning DeFi platforms. The development will pump up more liquidity in to the DeFi sphere.
REN and renBTC Bancor launch pools will boost liquidity
As per the official sources, the owners of both these tokens will get a particular portion of the trading charges. Earlier, the ‘automated market makers’ used the services of liquidity providers to further divide the assets into numerous reserve assets.
Bancor V2 delivers extensive exposure to the LP’s base token. Furthermore, it provides protection against impermanent loss and, at the same time, makes sure that the same liquidity providers earn profits from a 20 times liquidity boost. All these benefits are sure to bring fresh creativity to the whole of the DeFi sphere.
The Twitter handle of REN protocol further clarifies that REN and renBTC Bancor partnership will have to employ an oracle price feed. Also, Chainlink BTC/ETH price feed would be used for daily operations.
Bancor collaborating with industry giants for growth hacking
News about Bancor V2 is pouring in since May 2020. It is set to go live in July 2020. However, the final Bancor V2 code is presently subjected to stress tests for real-world deployment.
Bancor is a well-known on-chain liquidity protocol offering decentralized, automated exchange on most significant blockchains. Previously, Bancor and Kyber Network Crystal partnered to launch pools. Interestingly, the entire Bancor team is excited about the upcoming Bancor launch event.