Balancer Protocol (BAL), one of the most advanced ecosystems of DeFi solutions, is now able to evolve into the “ultimate flexible decentralized cryptocurrrencies exchange,” its team claims.
Balancer Protocol (BAL) adds Arbitrum to its ecosystem
According to the press release shared by Balancer Protocol (BAL) team with U.Today, today, Aug. 31, 2021, its mechanisms are deployed to Arbitrum, a Layer 2 Ethereum (ETH) solution.
Balancer Protocol (BAL) is the inaugural launch partner of the Arbitrum: L2 solution that commences its mainnet operation today. As such, all users of Balancer (BAL) can now access Ethereum, Polygon, and Arbitrum in the app's dashboard.
Fernando Martinelli, Balancer Labs CEO and co-founder, stresses the role of his team's integration with Arbitrum in terms of resource-efficiency, UX/UI and speed:
Arbitrum is a leading L2 solution, its distinctive features in scalability, especially compatibility with Ethereum, lead this industry to recognize that it will optimize the user experience and enhance growth. L2s show the promise of reducing Ether fees and network congestion, and we are excited Arbitrum is available to the Balancer ecosystem
With this integration, Balancer can onboard composed liquidity pools that aggregate liquidity across different platforms.
Unmatched scalability, low costs: new epoch of Ethereum (ETH) scaling
Unlike first-gen Ethereum (ETH) scalability frameworks, Arbitrum does not use zero-knowledge proofs. Instead, its ecosystem is built on top of so-called 'Optimistic Rollups'.
With Optimistic Rollups, the consensus broadcasts all “rolled up” transactions to Ethereum's mainnet, intervening only if an incorrect transaction is submitted.
Steven Goldfeder, co-founder and CEO of Arbitrum, emphasizes the paramount importance of the integration for both teams:
We are incredibly excited that Balancer will be live on Arbitrum One at launch. Balancer is an important DeFi building block, and we look forward to working with the excellent Balancer team to bring more efficient, flexible trading experiences to Arbitrum users
Alex Dovbnya
Arman Shirinyan