DeFi exchange and automated market maker Bancor has unveiled details of its third version (V3) of its protocol. The new iteration of the platform will introduce new features which include lower fees and auto-compounding for staking rewards among others.
<h2 class="article__title" data-title="Bancor DeFi to Release Bancor3 with Advanced Features , Category: News ,Author: Vladislav Sopov , Date: 29 Nov 2021 , Week: 48" data-url="https://u.today/bancor-defi-to-release-bancor3-with-advanced-features">DeFi Exchange Bancor to Release V3 With New Features</h2>
Following the<a href="https://www.cryptoknowmics.com/news/bancor-network-token-price-prediction-2021-2025-is-bnt-set-to-reach-10-by-2021/"> success</a> of Bancor V1 and V2.1, the decentralized trading platform is set to launch its much-awaited Bancor V3, which comes with numerous upgrades designed to enhance users’ liquidity provision experience.

Some of the new features that will be introduced in the latest upgrade include Omnipool, an instrument that will allow all trades on the network to be carried out in one transaction, resulting in the reduction of gas fees while increasing efficiency. Previously, it needed Bancor Network Token <a href="https://www.cryptoknowmics.com/news/yearn-finance-yfi-and-bancor-bnt-technical-analysis-price-oscillating-above-key-support/">(BNT)</a> to process transactions.

Additionally, the Infinity Pool will remove deposit limits on Bancor liquidity pools, along with the introduction of trading liquidity, used for market-making, and superfluid liquidity, which is used in both internal and external fee-earning strategies.

With the latest upgrade, users will gain access to full impermanent loss protection from day one of staking their tokens, as opposed to v2.1, which offered impermanent loss protection only after 100 days.

Commenting on the upcoming upgrade, Bancor’s Head of Growth, Nate Hindman, said:
<blockquote><em>“We must prevent DeFi from becoming a playground for the rich and connected to extract value from protocols and dump on everyone else and this starts with fixing liquidity pools. Bancor 3 marks a new day for DeFi one in which people and projects retake DeFi’s core building block to bring community-sourced liquidity to masses.”</em></blockquote>
https://twitter.com/Bancor/status/1465445447292571657
<h2><strong>Third Version Will be Released in Three Phases</strong></h2>
To put it simply, Bancor V3 looks towards lowering gas fees for trading, removing deposit limits on liquidity pools, introducing auto-compounding for staking rewards, and featuring a new and improved front-end, amongst other things.

In the end, Bancor revealed that it will be launching V3 in three distinct phases dubbed Dawn, Sunrise, and Daylight. These features will go live as soon as the first phase, Dawn, is deployed. The code for Dawn will be open-sourced in the coming weeks via a public bug bounty and activated based on a vote by the BancorDAO.

DeFi Protocol Bancor Launching Its Much-Awaited V3 Upgrade

DeFi exchange and automated market maker Bancor has unveiled details of its third version (V3) of its protocol which will be released in three stages.

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

DeFi Protocol Bancor Launching Its Much-Awaited V3 Upgrade

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