Balanced Integrates Injective (INJ) to Enhance Cross-Chain DeFi

Balanced,
a
cross-chain
platform
enabling
users
to
borrow,
swap,
and
bridge
native
assets,
has
gone
live
on
the
Injective
(INJ)
mainnet.
This
integration
introduces
the
overcollateralized
bnUSD
stablecoin
to
the
Injective
ecosystem,
enhancing
its
cross-chain
DeFi
capabilities,
according
to
the

Injective
Blog.

Enhanced
DeFi
Functionalities

With
the
launch,
Balanced
allows
users
to
borrow
its
native
stablecoin
(bnUSD),
swap
assets
cross-chain,
and
transfer
assets
to
Injective
from
any
network
integrated
with
Balanced.
Users
can
expect
near-instant
transaction
finalization
and
minimal
fees,
a
hallmark
of
Injective’s
dApps.

Users
can
borrow
up
to
two-thirds
of
their
collateral
value
in
bnUSD,
which
can
be
utilized
across
supported
Injective
DeFi
protocols.
The
platform
imposes
a
fixed
0.2%
loan
fee
and
a
2%
annual
interest
rate.
The
debt
is
linked
to
the
collateral’s
value
and
can
be
repaid
from
any
chain
at
any
time,
leveraging
bnUSD’s
native
cross-chain
functionality.

Cross-Chain
Asset
Swapping

Balanced
also
facilitates
cross-chain
asset
swaps.
For
instance,
a
user
holding
ETH
on
Arbitrum
can
seamlessly
swap
to
INJ
on
Injective
in
a
single
click.
Liquidity
providers
will
share
in
50%
of
the
fees
generated
from
traders.
Traders
will
encounter
a
variable
bridge
fee
based
on
trade
size
and
a
0.3%
swap
fee
for
each
step
in
the
trade
route.

Any
supported
native
asset
can
be
sent
cross-chain
to
be
used
within
the
Injective
ecosystem.
Users
simply
select
the
desired
asset
and
destination
chain,
completing
the
transaction
in
one
click.

Impact
on
the
Injective
Ecosystem

The
integration
with
Balanced
significantly
expands
the
Injective
ecosystem:

• 
  Broader
  Asset
  Options:
  The
  inclusion
  of
  bnUSD
  to
  Injective
  diversifies
  the
  range
  of
  assets
  available
  for
  trading
  and
  yield
  farming
  strategies.
• 
  Cross-Chain
  DeFi
  Capabilities:
  Users
  can
  now
  implement
  cross-chain
  DeFi
  strategies
  with
  INJ
  and
  bnUSD,
  thanks
  to
  seamless
  asset
  transfer
  between
  other
  ecosystems
  and
  Injective.

About
Injective

Injective
is
a
fast,
interoperable
layer
one
blockchain
optimized
for
building
premier
Web3
finance
applications.
It
provides
developers
with
powerful
modules
for
creating
unmatched
dApps.
INJ
is
the
native
asset
powering
Injective
and
its
ecosystem.
Injective
is
incubated
by
Binance
and
supported
by
investors
such
as
Jump
Crypto,
Pantera,
and
Mark
Cuban.

About
Balanced

Balanced
hosts
the
Balanced
Dollar
stablecoin
(bnUSD)
and
includes
an
exchange
servicing
all
blockchains
connected
to
the
ICON
Network.
Governed
by
its
community
through
the
Balance
Token
(BALN),
Balanced
allows
users
to
earn
BALN
when
borrowing
bnUSD
or
supplying
liquidity.
The
platform
operates
on
Arbitrum,
Archway,
Avalanche,
Base,
BNB
Chain,
Havah,
ICON,
and
Injective.

Image
source:
Shutterstock