Balancer partnerships with Gnosis to launch a new decentralized exchange. It will provide the best experience to traders across price, UX, and transparency. The DEX will combine the new and improved liquidity pools of balancer V2 with Gnosis protocol V2’s price finding mechanism and MEV protection.
Balancer Labs is one of the leading Automated market makers (AMM). While Gnosis facilitates a decentralized prediction market built on Ethereum Blockchain. Gnosis builds, a market mechanism for use in decentralized finance, Balancer-Gnosis-protocol (BGP).
“By collaboration, we can out-cooperate the competition traditional finance and bring traders unparalleled decentralization, transparency, and value,” says Fernando Martinelli, Balancer CEO. “We’re proud to bring two teams known for great engineering, Balancer labs and Gnosis, together in this collobration.”
The BGP aims to self-regulate the space to move from current fixed rules that apply specific parameters to upgradable rules that change parameters according to market conditions. These changeable rules applied to market makers and traders aim to keep the value from miners while distributing across protocol users with better price.
Balancer-Gnosis-protocol (BGP) will release in a stage. Balancer V2 was recently released for developers, and traders will have the ability to migrate liquidity in the coming weeks. Today the proof of concept Cowswap DEX goes live to test the experience of Gnosis protocol V2. It offers a 90% reduction in transaction gas costs. Targeted for mid-June will fully integrate balancer V2 with Gnosis protocol V2, and a joint incentive program will kick-off.
About Balancer:
Balancer protocol allows for automated portfolio management and provides liquidity, turning the concept of an index fund on its head. Developers leverage balancer as a permissionless building block to innovate freely and create a new treasury management system. The labs’ mission is to become the primary source of DeFi liquidity, providing the most flexible and powerful platform for asset management and DEX.
About Gnosis:
Gnosis builds a new market mechanism for decentralized finance. Three interoperable products allow users to create, trade and hold digital assets securely. Gnosis was founded in 2015 by Martin Koppelmann and Stefan Geroge as part of ConsenSys’ globally leading Ethereum venture production studio. In April 2017, Gnosis raised funds and spun out of Consesys to become an independent company now with more than 60 employees.
About Cowswap:
Cowswap is a proof-of-concept decentralized application built on Gnosis Protocol V2. CowSwap offers a decentralized finance community teaser of capabilities of GPv2 through upcoming testing features while placing nearly gas-free trades.
The balancer has been particularly active in integrating with other protocols. Recently, it did a collaboration with Polkadot and AAVE v2. These integrations might heat up DeFi space.
