The Good Tech Companies - Balanced Launches Cross-chain Stablecoin Loans

Episode Date: August 1, 2024

This story was originally published on HackerNoon at: https://hackernoon.com/balanced-launches-cross-chain-stablecoin-loans. Balanced DeFi launches cross-chain loans. Borrow bnUSD using AVAX, BNB, BTC, ETH, INJ, sICX collateral. Low fees, flexible borrowing. Check more stories related to web3 at: https://hackernoon.com/c/web3. You can also check exclusive content about #cross-chain, #balanced, #press-release, #stablecoin, #stablecoin-loans, #defi, #blockchain, #good-company, and more. This story was written by: @balanceddao. Learn more about this writer by checking @balanceddao's about page, and for more stories, please visit hackernoon.com. Balanced, a decentralised finance (DeFi) platform, has extended its utility with the launch of cross-chain loans. You can deposit collateral and borrow bnUSD against it, which you can receive on the chain of your choice. The 0.2% borrow fee and 2% interest are included in the fee.

This audio is presented by Hacker Noon, where anyone can learn anything about any technology. Balanced launches cross-chain stablecoin loans. By Balanced. August 1, 2024 Balanced, a decentralized finance, DeFi, platform, has extended a utility with the launch of cross-chain loans. You can deposit collateral from a supported blockchain and borrow BNUSD against it, which you can receive on the chain of your choice. Key features. Multiple collateral types. Supports AVAX, BNB, BTC, ETH, INJ, and SICX across Avalanche, Arbitrum, BASE, BNB chain, and ICON. Isolated loans. Separate risk

profiles for each asset and chain. Flexible borrowing. Deposit collateral on one blockchain and receive BNUSD on another. Low fees. Borrow BNUSD for a 0.2% fee and 2% annual interest. BNUSD. A cross-chain stablecoin. BNUSD, also known as the balanced dollar, is a decentralized cross-chain stable coin that tracks the price of one United States dollar. It uses cryptocurrency as collateral to maintain its value, with support for assets from a variety of blockchains. It's over-collateralized, so the total supply cannot exceed the value that backs it. You can use BNUSD wrapper-free

on every blockchain Balanced connects to. Use Balanced to swap BNUSD wrapper-free on every blockchain Balanced connects to. Use Balanced to swap BNUSD for other native crypto assets or transfer IT cross-chain. If you transfer BNUSD to the ICON blockchain, you can also supply liquidity or earn a return from the Balanced savings rate, with rewards currently around 15%. To learn more about BNUSD, visit the BNUSD stablecoin page. How to open a cross-chain loan? Visit app, balanced, network and sign in with your crypto wallet. Deposit a supported collateral type on your preferred blockchain, choose the amount of BNUSD to borrow, and which blockchain to receive it on. In addition to the 0.2% borrow fee and 2% interest, transactions that don't originate on the ICON blockchain will include a cross-chain fee that varies for each blockchain.

After you borrow BNUSD, you can monitor your risk from the position details section. For more about cross-chain loans and how to open one, view BNUSD. Now available to borrow cross-chain. About Balanced. Balanced is DeFi designed for adoption. It's fast, affordable, and easy to use. Home to the BNUSD stablecoin and a decentralized exchange, it defies the industry's carbon copy complexity with an interface loved by crypto beginners and experts alike. You can use Balanced to borrow BNUSD, swap assets, supply liquidity, and transfer crypto cross-chain. Its focus on providing a native experience means your crypto stays wrapper-free. Website, app, demo, Twitter, Discord contact. Hello at Balanced.

Network, this press release may contain forward-looking statements, which describe future expectations, plans, results, or strategies, including product offerings, regulatory plans, and business plans, and may change without notice. Such statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from those projected in the forward-looking statements. Thank you for listening to this Hackernoon story, read by Artificial Intelligence. Visit hackernoon.com to read, write, learn and publish.