Balancer (BAL) strikes partnership with Polygon (MATIC) for Ethereum (ETH)
Aiming to democratise Ethereum and make it take root in customers’ minds, Balancer and Polygon have formed a partnership, which brought some benefits — lowered gas fees — to those who opt for the Ethereum blockchain
Goal: reduce gas costs
To make a cryptocurrency recognised, make it accessible worldwide. With this mindset Balancer Protocol launches its support for Polygon — a Layer 2 solution designed to reduce gas costs.
This partnership allows BAL to enter the inner circle of large DeFi projects, which have managed to significantly increase their number of users in recent years. These projects include Aave, Curve and SushiSwap.
Balancer has made its position clear by saying “the ultimate flexible AMM is more easily realised” when it has the ability to perform unique experiments with pools without risking higher trade fees, and that’s exactly what Polygon offers: near-zero transaction fees.
Next level of user experience
Fernando Martinelli, CEO and Co-Founder at Balancer Labs, indicated that BAL has a strong flexibility. “We have noticed the amount of traction that Polygon has been getting and the transaction experience that it provides and Balancer wants that experience for our community and users”.
The press release announcing the collaboration reads: “the liquidity mining committee has expressed a desire to focus on more index-like pools on Polygon to emphasize the unique value proposition of Balancer on L2”. Based on the consensus, the committee will continue going over the options for pool designs for Polygon, with miners who take part in the project receiving rewards.
The Co-Founder of Polygon was also pleased with the partnership. “We’re sure the Polygon community will enjoy utilising Balancer with near-zero fees and superior user experience,” Sandeep Nailwal stated.
With the goal of making Ethereum an easily applicable cryptocurrency acknowledged worldwide, Balancer and Polygon have formed a prosperous partnership. Aimed at reducing gas costs, it promises to be beneficial for both parties.