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bnUSD, the cross-chain stablecoin from Balanced, is now available for trading on Pharaoh Exchange. The AVAX/bnUSD liquidity pool is now open to traders and liquidity providers, complete with boosted incentives.
Seed Liquidity and Boosted Incentives
Seed liquidity has been provided to bootstrap the AVAX/bnUSD liquidity pool. As an additional incentive to liquidity providers, the pool will receive rewards through the boost program. With these boost incentives the AVAX/bnUSD pool offers over 1000% APR for liquidity providers (at time of writing) on Pharaoh Exchange.
To make the most of the offered incentives, liquidity providers can acquire bnUSD through Balanced’s DEX, or by borrowing bnUSD against a range of assets - including AVAX.
New Cross-chain Stablecoin for Avalanche
bnUSD is the overcollateralized, cross-chain stablecoin of Balanced, a recent addition to Avalanche’s DeFi ecosystem. Users can mint (borrow) bnUSD directly on Balanced by providing $AVAX as collateral. Once minted, bnUSD can be used wrapper-free across Balanced’s connected chains.
This versatility means that value can be moved seamlessly between Avalanche, Arbitrum, Archway, Base, BNB Chain, Havah, ICON and Injective. Balanced works continually to expand this network of connected chains, with Optimism, Polygon, Solana, Sui, Stacks, and Stellar to be integrated soon.
AVAX-backed Stablecoin Loans with bnUSD
Unlock the value of your assets by borrowing bnUSD and deploy that capital across a growing family of connected chains. Visit Balanced to mint (borrow) bnUSD today and earn yield by providing liquidity to the boosted AVAX/bnUSD pool on Pharaoh Exchange.
To learn more about Balanced and how to use it, visit the website, try the demo, and read the documentation. You can also follow Balanced on Twitter and join the Balanced community on Discord.