BNB Chain launches Liquidity Bootstrapping Pools in partnership with Fjord, Balancer
BNB launches Liquidity Bootstrapping Pools (LBPs) which will support ERC-20 tokens, with plans to expand to NFTs in 2023.
BNB Chain has partnered with Fjord and Balancer to launch Liquidity Bootstrapping Pools (LBPs) on its mainnet, according to a Dec. 19 statement.
The move will allow new projects to generate liquidity and give everyday users the chance to invest in innovative ideas and discover new communities.
Initially, the LBPs will support ERC-20 tokens, with plans to expand to include fair launch NFTs on BNB Chain in early 2023, through Fjord NFTs.
Fjord’s LBPs have already generated community funding of over $750 million and have been used by more than 60,000 users since September 2021. Using Balancer technology, Fjord has supported numerous teams, including Merit Circle, GuildFi, Kapital DAO and others in the GameFi, DeFi, and community DAO industries.
LBPs from Fjord and Balancer are known for reducing the impact of sniper bots and whales on token launch events, supporting fair price discovery, and creating sustainable communities by ensuring that launch events aren’t impacted by users with asymmetric information and technical ability.
BNB Chain says that it will continue to roll out innovative on-chain utility for the benefit of developers, users, and the broader ecosystem.
Credit : cryptoslate.com