Balanced Network's Q2 2024 update details deployments on five new blockchains including Avalanche, Arbitrum, BNB Chain, Base, and Havah, alongside smart contract audits and cross-chain preparations. Governance saw 19 proposals passed, with the DAO earning $33k in fees and burning ICX as part of economic enshrinement with ICON. Q3 plans include cross-chain loans and launches on Injective, Optimism, Polygon, and Stellar.
In Q2 2024, Balanced contributors deployed smart contracts on Arbitrum, Base, and Optimism, prepared for Polygon, and launched the platform on Avalanche, Arbitrum, BNB Chain, Base, and Havah. They completed audits with Hashlock for EVM contracts and MoveBit for Sui, unified BTC tokens, and advanced integrations for Stacks, Solana, and the Stability Fund. Governance processed 19 proposals expanding collateral types, Stability Fund updates, and chain connections. The DAO generated $33,018 in fees, distributed rewards to bBALN holders at 1.21% APR, and burned 148k ICX under economic enshrinement, with ICON providing significant liquidity incentives. The Savings Rate offers 15% APY with steady bnUSD deposits. Q3 roadmap targets cross-chain loans, new chain launches including Stellar, Solana audits, and features like soft liquidations and concentrated liquidity.
