Chainwire

Balancer and Gnosis Launch the Balancer-Gnosis-Protocol (BGP)

Chainwire · Oct. 21, 2021 at 2:36 pm UTC · 2 min read
Balancer and Gnosis Launch the Balancer-Gnosis-Protocol (BGP)

Disclaimer: This is a sponsored press release. Readers should conduct their own research prior to taking any actions related to the content mentioned in this article. Learn more ›

Lisbon, Portugal, 21st October, 2021 — Balancer Labs’ Head of Growth, Jeremy Musighi, announced today at LisCon the official launch of the Balancer-Gnosis-Protocol (BGP). BGP combines the Vault architecture of Balancer V2 with Gnosis Protocol’s revolutionary price-finding mechanism. Balancer joins Gnosis to provide user benefits such as on-chain liquidity, MEV protection, better trading prices, and optimized gas costs. Users are immediately able to take advantage of BGP as it is now the default when trading on balancer.fi.

BGP removes the need for an external market maker or liquidity provider, allowing users to save on gas costs, slippage tolerance, and protocol fees. Miner Extractable Value, or MEV, refers to the measure of profit a miner can make through their ability to arbitrarily include, exclude, or re-order transactions within the blocks they produce. To date, more than $730 million has been extracted from users by bots frontrunning transactions, exploiting the slippage users allow in a trade. The Balancer-Gnosis-Protocol leverages batch auctions with uniform clearing prices for all trades in the same batch, protecting traders from value extraction.

“Gnosis brings unparalleled transparency and value to DeFi, focusing on user experience and enhancing industry growth. The combination of these two protocols will allow users to obtain the best benefits of Gnosis and Balancer, such as gasless trading, better overall prices, and MEV protection.” – Fernando Martinelli, Balancer Labs CEO & Co-Founder.

Balancer users are introduced to Gnosis’s price-finding mechanism based on gasless orders and smart order routing. Instead of sending an executable transaction with a predetermined execution path, users will now sign an off-chain message with their intent to trade. The additional third party executes trades, matching against whichever on-chain liquidity offers the best price.

“The collaboration with Balancer is a natural fit, the native integration of Balancer’s v2 architecture allows us to achieve even better prices for the end users and provide a smooth UX across the two platforms. It’s an important milestone towards our mission to build an infrastructure layer that protects traders.” – Martin Köppelmann, Gnosis CEO & Co-Founder.

About Balancer Protocol

Balancer Protocol allows for automated portfolio management and provides liquidity turning the concept of an index fund on its head: instead of paying fees to portfolio managers, you collect fees from traders who rebalance your portfolio by following arbitrage opportunities. Developers leverage Balancer as a permissionless building block to innovate freely and create new treasury management systems. Balancer Lab’s mission is to become the primary source of DeFi liquidity by providing the most flexible and powerful platform for asset management and decentralized exchange.

To learn more, please visit https://balancer.fi/.

Website | Twitter | Discord

About Gnosis Protocol

Gnosis Protocol’s (also known as CowSwap) price finding mechanism is based on batch auctions which allow for a few significant benefits for users, including MEV protection, better on-chain prices and gas optimisations. Instead of sending executable orders to the miners, traders send intents to trade to a set of professional 3rd parties that compete amongst each other to find the most optimal settlement solution. These parties, the solvers, bundle trades into batches, which can offer MEV protection, off-chain liquidity matching and gas cost savings. Gnosis Protocol’s mission is to protect traders and offer fair prices by building the ultimate batch layer on Ethereum.

Website | Twitter | Discord

Contacts

VP Operations

Share
Chainwire x CryptoSlate

Broadcast your project news with guaranteed coverage on industry-leading publications like CryptoSlate.

CryptoSlate has partnered with Chainwire to deliver press releases distributed across numerous crypto media sites, including Cointelegraph, Decrypt and The Defiant.

Chainwire has been used by over 800 brands and PR agencies worldwide.

Get Started with Chainwire
Latest Press Releases

Disclaimer: This is a sponsored press release. CryptoSlate is not responsible or liable for any content, accuracy, quality, advertising, products or other materials associated with this press release. Readers and consumers should conduct their own research prior to taking any actions related to the company. CryptoSlate is not accountable, directly or indirectly, for any damage or loss incurred, alleged or otherwise, in connection to the use or reliance of any content, goods and/or services included in the press release. Please read our full dislaimer/disclosure statement here.