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Integrations for Stellar and Solana have reached front-end launch on Balanced, with Intent-based trading and Cross-chain LP close behind. With the team already looking at expansion of Intents and Relay upgrades for additional chains, there is plenty on the way for DeFi aficionados as we approach a new year.
🔮 Intents Development: The first set of intent-enabled chains, SUI and Arbitrum, will go live soon. Meanwhile, work is already underway on the next wave of intent contracts for Solana, Stellar, and ICON.
🧩 ICON Network Solver: The initial iteration of the ICON Solver is complete and performing well on the mainnet. Throughout late November and early December, we focused on testing and optimizing the solver. We have now begun integrating Solana into the solver.
🪐 Stellar and Solana Live: For Stellar we are addressing a minor issue for newly created Stellar wallets. Balanced cannot currently fund wallets that don’t already hold XLM. A solution has been deployed to the mainnet and is awaiting front-end integration, expected in January. Note: This issue does not affect users who already have XLM in their wallets.
🟧 Stacks Integration Progress: The Stacks integration is technically complete but various issues have slowed progress. Work is ongoing with steady progress that we will continue to share updates on.
🌐 Relay v2 Developed for ICON and EVM: Both chains have undergone internal audits and we will deploy the necessary fixes to the mainnet In December. In January we expect to have tested sufficiently to migrate EVM chains to the new relay.
💧 Cross-chain Liquidity Provision (LP) and Rewards: This will make all Balanced features native to connected chains. This project is being rolled out in three phases:
Phase 1: Cross-chain liquidity provision is now complete, with smart contracts deployed to the mainnet.
Phase 2: Cross-chain rewards distribution is complete, and smart contracts for this have been deployed to the mainnet. Users will soon be able to earn rewards without needing an ICON wallet. The savings rate portion of Phase 2 is still under development.
Phase 3: BALN staking on any chain is in progress, allowing users to stake BALN directly from their respective chains.
These updates reflect our ongoing dedicated efforts to enhance interoperability and ensure robust security across our blockchain integrations. We remain committed to transparency as we move forward and you can follow along with our progress on the integrations milestone board.
📅 November’s Accomplishments:
Discovery
Finished for Cross-chain LP, to enable BALN staking from any chain.
Development
Relay upgrade completed for Cosmos chains.
Balanced Intents SDK completed for front ends.
Deployment
Cross-chain LP and Rewards distribution on mainnet after testing.
Testing
Continued mainnet testing for Intents contracts and the ICON Solver.
Integration testing for Relay upgrade to ICON and EVM contracts complete.
Audits
Internal audits complete for Relay upgrade to ICON and EVM contracts.
🎯 December’s Goals:
Development
Develop Intent contracts for ICON, Stellar, Solana and Cosmos chains.
Develop Cross-chain Savings Rate (phase 2).
Develop BALN staking on other chains (phase 3).
Develop Relay upgrade for Sui, Solana and Stellar contracts.
Deployment
Deploy GMP and Balanced contracts to Stacks mainnet.
Commence ICON Solver integration with Solana.
Deploy Relay upgrade for ICON and EVM contracts.
Audits
Commence second audit for Move contracts.