Blockchain platform Algorand today announced that Balancer, one of the largest automated market makers (AMM), will soon be available on Algorand to expand liquidity to its growing community.
This initiative explores how the Balancer platform can work in different environments, given the different trade-offs and characteristics of other innovative blockchains like Algorand.
Traditionally, exchange and liquidity have been time-consuming and expensive endeavors, and the market depth is not always justified. However, Balancer brings the type of innovation and decentralization in financial infrastructure that continues to drive service costs lower.
As a trusted pillar of the Ethereum community, Balancer has played a key role in providing this decentralized liquidity for its users since its inception.
Balancer + Algorand
By leveraging Balancer’s services on Algorand, exchanges will have the ability to create trading pairs with any Algorand Standard Asset (ASA). As the number of assets issued on Algorand’s high-performing blockchain accelerates, this represents a huge opportunity for mass adoption.
Balancer is being built on Algorand by Reach, utilizing their safe and easy DApp programming language. The Reach platform provides a high-level language and a specialized compiler that lowers the bar of entry for Algorand development. DApps wrote in Reach also apply formal verification to the deployed application, ensuring that applications like Balancer provide extra safety guarantees for users.