Balanced, a cross-chain DeFi platform built on ICON, has launched on Optimism, its 5th Ethereum ecosystem chain. Users can now swap ETH and USDC for assets on other blockchains, transfer cross-chain, and borrow bnUSD using ETH as collateral. The platform leverages ICON's GMP for secure connections, including to Stellar.
Balanced, home to the bnUSD stablecoin and a decentralized exchange on ICON, is now available on Optimism, enabling wrapper-free support for ETH, USDC, bnUSD, and BALN. Users can swap these for crypto on chains like Solana, transfer assets cross-chain in 30-60 seconds for ~$0.24, and borrow up to 67% of ETH value as bnUSD with low fees. Powered by ICON's General Message Passing (GMP), it connects to 12 chains including Stellar, Arbitrum, and Solana, with more like Polygon planned. Liquidity provision to ICON pools is also possible, earning trading fees, and cross-chain pools are coming in 2025.
