Bancor Protocol Unveils New DAO Staking Feature

New DAO Staking Feature

Decentralized Exchange Bancor has launched a new feature dubbed Bancor 3 to improve staking functions in the decentralized autonomous organization. 

Bancor product architect, Mark Richardson, says that the company has spent many years developing an equivalent to the high-yield savings accounts.

Richardson adds that Bancor 3 will allow for a robust and resilient on-chain liquidity by allowing token projects and their user base to benefit from DeFi yields.

The new product is launched out of beta and aims to create sustainable liquidity by allowing users access to Single-Sided Staking with lower impermanent loss risks.

Single-sided staking allows for yields earned on one token that a user contributes to the Bancor pool to have a 100% exposure to that token. A single-sided token is issued to the user as a return, with the tokens rising or falling relative to their value.

Multiple decentralized autonomous organizations use Bancor as a treasury management solution, including Nexus, UMA, Polygon, and KeeperDAO.

Source: Coindesk

Leave a Reply

Your email address will not be published.

Related Posts