On Wednesday, the programmable liquidity platform Balancer Protocol announced that the project has partnered with Wallstreetbets-Defin project Wsbdapp. The announcement describes that the two projects will work together to launch Wsbdapp’s Exchange Traded Portfolios (ETPs) on Balancer V2.
Wallstreetbets’ Balancer Protocol and Defi project partners launch exchange-traded portfolios
Last week, Bitcoin.com News reported on the newly launched Wsbdapp decentralized financial platform (defi) hosted on the wsbdapp.com website. The creators of the application claim, in addition to the support of Jaime Rogozinski, according to a. to be the leaders of the Wallstreetbets community Video announced the team on Twitter. On Wednesday, the team behind the Balancer Protocol announced that the project will work with the wsbdapp creators.
Balancer Protocol is a liquidity provider and a decentralized exchange platform (Dex) that uses the Ethereum blockchain. According to Wednesday’s data, Balancer Protocol is the seventh largest Dex application to use Ethereum with a trading volume of $ 471 million last week. Metrics from Dune Analytics show that the volume of Balancer is just over 1 inch Network and Synthetix. The announcement by Balancer and Wsbdapp shows that the two projects plan to bring the “Exchange Traded Portfolios (ETPs) from Wsbdapp to Balancer V2” to market.
“We are excited to partner with Wsbdapp and bridge the gap between traditional and deficient investments,” said Balancer Labs CEO Fernando Martinelli during the announcement. “Wallstreetbets shares our mission to scale access to Def and we look forward to welcoming them to our ecosystem.”
Reduction of gas fees and use of “informed financial decisions”
The teams state that crypto ETPs will help retail investors diversify and they will be able to purchase a wide variety of Defi-Tokens. “Like an ETF or index fund, the ETPs from Wsbdapp on Balancer form a carefully selected portfolio of tokens that are completely liquid, balanced to avoid inflation and cannot be kept,” says the collaboration announcement. Wsbdapp users can leverage the balancer protocol and “use the right currency to buy in and get a token that represents their inventory,” the teams emphasize.
“The Wallstreetbets community has something for everyone and we are using democratic tools like ETPs to show the world how financial markets should really be managed,” said BTCVIX, CEO of the Wsbdapp platform. “Balancer provides our community with the data they need to access and evaluate these portfolios, enabling truly informed financial decisions.”
The creators of the Balancer project say that Balancer V2 will help users of the Wsbdapp platform lower fees. “Users are regularly informed of the status of their ETPs,” said the Balancer team. “Once the funds are held, users will have access to all the benefits of the collection and can sell their shares back when they’re ready.”
What do you think of the Defi project Balancer Protocol, which works with the decentralized financial project Wsbdapp? Let us know what you think on this matter in the comments below.
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