Balancer spends $ 10 million on near-zero fees on Ethereum-compliant transactions

The acceptance rate for cryptocurrencies depends heavily on the use cases in the real world. Balancer Protocol’s latest effort in this area is the introduction of the Layer 2 solution, Polygon Support, to reduce Ethereum gas costs.

With this partnership, Balancer joins a group of large DeFi projects like Aave, Curve and SushiSwap that have seen strong user adoption recently.

With Polygon (formerly MATIC) offering almost no fees on transactions, Balancer positions itself as the “ultimate flexible AMM that is easier to spot” thanks to its unique ability to conduct experiments for teams without the risk of higher transaction fees. Fernando Martinelli, CEO and Co-Founder of Balancer Labs, emphasized the ability to scale to more L2:

“We’ve seen how much traction Polygon has gained and the trading experience it provides, and Balancer wants that experience for our community and our users.”

According to the press release, “The Liquidity Mining Committee has expressed a desire to focus on more index-like pools on Polygon to highlight Balancer’s unique value proposition on L2.” Based on consensus, the committee will continue to test pool designs for Polygon with dedicated mining rewards.

Based on community votes, the token incentive setup is “25,000 BAL per week from Balancer, 375,000 MATIC per week from Polygon, and 30,000 Qi per week from Qi Dao per group for the two groups they will be joining.” $ 10 million.

Sandeep Nailwal, co-founder of Polygon, sums it up: “We are sure that the Polygon community will enjoy Balancer with its near-zero fees and great user experience.”