Balanced, a cross-chain DeFi app, has launched on the Stellar blockchain, enabling users to swap XLM for assets on other chains, use it as collateral to borrow bnUSD stablecoin, and transfer to ICON for liquidity provision. The integration includes a Stellar Community Fund grant, audited smart contracts, and fast, low-cost transactions. It leverages ICON's GMP for seamless interoperability.
Balanced has arrived on Stellar, unlocking new DeFi capabilities like swapping XLM with crypto from 9 other blockchains, borrowing bnUSD against XLM collateral at up to 67% LTV with low fees, and cross-chain transfers to chains like ICON. Powered by ICON's General Message Passing (GMP) and a custom Stellar relay, it ensures secure, wrapper-free interactions. A $155k XLM grant from the Stellar Community Fund supports launch liquidity, and smart contracts have been externally audited. Users can access the app at app.balanced.network for trading, borrowing, and liquidity provision, with future expansions including cross-chain pools in January 2025. This connection expands Balanced's reach to Stellar's fast, low-cost network.
