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Balancer Labs Unveils V2

Balancer Labs Unveils V2

Balancer V2 features a completely redesigned user interface and access to the best prices and low gas costs. It also allows them to provide liquidity with high capital efficiency. 

Balancer Labs has just announced that Balancer V2 is now Live. The platform has been in development for more than a year and comes with a new user interface in its new avatar. 

A New User Interface 

Balancer’s original front-end was reworked entirely and as part of the upgrade. In addition, Balancer Labs have created the new interface “Balancer.fi” with the purpose of sharing information with any user that enters the Balancer Ecosystem. 

The Balancer Protocol is an open-source protocol and can be accessed through multiple interfaces such as Matcha, 1inch for V2, and Zapper, Zerion, and PieDAO for V1. 

The interface for liquidity providers has also been significantly improved. Liquidity providers can now invest in pools with any amount and combination of tokens, as long as the tokens are present in the pools. 

Lower Gas Prices 

Balancer.fi will offer the same functionality as before from the front-end. However, the backend is where it’s different. Balancer.fi will route trades through the most efficient protocols. 

The team believes that V1 will still provide the best trade price for the time being; however, as enough liquidity migrates to V2, trades will begin to be routed through V2’s protocol. This will result in substantially lower gas prices. 

Updated Website And New Branding 

Balancer moves to a new location at Balancer.fi. The new homepage offers a new and improved overview of the Balancer protocol, giving users easy access to whatever information they need, such as the Trade volume, Fees earned, Amount invested, and Total investors. 

Community Multisig 

Balancer has also transitioned from its older governance execution mechanism to a community multi-sig. The new set of signers will be responsible for the execution of transactions on Snapshot. This ensures that Balancer continues to be run by its community. The new set of signers are 

  • Alexander Lange (Inflection)
  • Ash Egan (Accomplice)
  • Cooper Turley 
  • David Hoffman (Bankless)
  • Davis Ramsey (pools.vision)
  • Fabien Marino (Snapshot Labs)
  • Jake Brukhman (CoinFund)
  • Kain Warwick (Synthetix)
  • Kevin Owocki (Gitcoin)
  • Mariano Conti (Ethereum)
  • Trent McConaghy (Ocean Protocol)

The list of people above is responsible for the execution of all transactions passed on Snapshot. 

The Liquidity Migration 

As part of the highly anticipated upgrade, we will soon see liquidity positions migrating from Balancer V1 to V2. However, some partners that have built significant infrastructure around specific Balancer V1 pools can stay on in the legacy version for now. 

However, new pools and integrations will be encouraged to launch on Balancer V2. This will allow them to take advantage of the new features that we have already mentioned. 

A New Liquidity Mining Program 

The Balancer Protocol is also moving to a new and trustless program for BAL liquidity mining. The new V2 Liquidity Mining Program will allow liquidity providers to stake positions in different pools and receive BAL. There are three tiers, and each pool is assigned to a specific tier, with each level getting a specified amount of BAL every week. 

All allocations will be governed completely by Balancer’s most active community members, called Ballers. Any member can become a Baller. 

Collaboration With Gauntlet 

Balancer Labs is working with Gauntlet to optimize yields across V2 Pools. The Gauntlet pools created on V2 map to the existing pools on V1. Once the migration is complete, Gauntlet Pools will contain a majority of the Balancer V1 aggregate liquidity. 

Balancer will leverage Gauntlet’s bespoke dynamic fee pricing engine, which will help provide increased modularity in AMM pool pricing. 

Launch Partners 

Balancer Labs has also partnered with several V2 launch partners. This will enable Balancer Labs to deliver the best experience to traders across all price brackets. Some of the launch partners are 

  • Gnosis 
  • Aave
  • Enzyme Finance 
  • Gyroscope 
  • Ocean Protocol 
  • PowerPool
  • Techemy Capital 

The Way Forward 

Balancer Labs will be sharing more resources and material on the evolving Balancer V2 landscape over the coming weeks. They will also release explainers, guides, and updates on all the essential topics such as BAL liquidity mining, V2 Governance, and liquidity migration. 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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