Blend V2 is launching with audits wrapping up soon. The migration allows lenders, borrowers, and backstoppers to move to V2 at their own pace while V1 remains operational, with key improvements including flash loan support, expanded pool parameters, and better liquidation mechanics.
Blend V2 is completing its security audits and will launch as a parallel protocol to V1, allowing users to migrate gradually without urgency. The migration includes an emissions fork mechanism that redirects BLND rewards to V2 once it accumulates more backstop deposits than V1, with a 31-day timelock. Key improvements in V2 include flash loan support for arbitrage and DeFi protocols, collateral caps and asset disabling for pool creators, expanded pool capacity to 50 assets, better liquidation flexibility, and optimizations like single-transaction leveraged position unwinding. Integrators gain access to the Blend Fee Vault for noncustodial fee earning and new smart contract functions like submit_with_allowance() and get_reserve(). Both versions will be accessible through the Blend webapp, with V1 remaining fully operational during the transition.