Bancor validates DEX on Ethereum, and other blockchains have announced the launch of LEND as Bancor V2 launch pool. LEND is the native of Aave, and at this protocol, the depositors earn interest by providing liquidity to the lending pools. In contrast, the borrowers obtain loans from these lending pools at a stable rate of interest.
Once the newly launched Bancor V2 pool goes live, all the LEND holders will get a share of the pool’s trading fees. Bancor will officially launch the LEND pool on August 4th, 2020, through an AMA or the Aave Telegram Channel at around 10 A.M EST. Bancor will answer all the queries related to the pool’s functionalities and about the process of liquidity provisions. User guides will also be provided before the official launch of the Bancor V2 to allow the LEND holders to ask for any queries if they have.
Before the mainnet release, the Bancor V2 pool is presently undergoing auditing and formal verification to ensure the utmost accuracy of price dynamics once the mainnet is released. As per the project, the launch of the mainnet will place LEND among the first pools to go live on the new system, and it will happen as soon as the ‘public bug bounty’ before the mainnet release gets completed.
The new Bancor V2 pool will have incredible features that can be fine-tuned with the existing AMM (automated market maker) solutions. To achieve these incredible features, the LEND pool will utilize LEND/ETH and BNT/USD, which are originally the decentralized price feeds of ChainLink. This integration will immensely benefit the liquidity providers. During the entire process, the token holders will have real-time exposure to the LEND tokens. Also, Bancor’s diversified liquidity solutions will allow the users to mitigate the losses and earn from the patented liquidity design of Bancor.