Balanced connects to Arbitrum & BNB Chain
Two new connections, 20 days after the last. You can now swap and transfer crypto between five different chains.
Balanced’s cross-chain journey continues with the launch of two new blockchain connections. In addition to Archway, Avalanche, and ICON, you can now swap and transfer crypto between Arbitrum and BNB Chain.
Learn more about Balanced’s cross-chain DeFi offering, and how you can take advantage of the new connections.
The cross-chain DeFi hub
Balanced is home to the bnUSD stablecoin and a decentralised exchange. Built on ICON with best-in-class design, Balanced uses ICON’s cross-chain technology to connect to other blockchains. It’s simple, fast, and cheap.
DeFi for the rest of us.
You can use Balanced to swap between assets on different blockchains, and transfer crypto to a supported chain.
If you add BNB or ETH to an ICON wallet, you can also borrow bnUSD and supply liquidity.
Balanced is on a journey to become the leading cross-chain DeFi platform. To help its cause, ICON uses ICX emissions to buy the native token for each connected chain, which it supplies as liquidity to improve the trading experience.
Thanks to ICON’s efforts, the BNB/bnUSD and ETH/bnUSD liquidity pools each have more than $300k ready to supply your trades.
How do the cross-chain connections work?
Balanced’s blockchain connections are powered by General Message Passing (GMP).
GMP is a cross-chain messaging service that can work with any interoperability protocol. It relays messages between connected chains, and includes multi-protocol verification to reduce dependency on a single bridge.
GMP connects to a custom relay on Arbitrum, which uses multiple relays – each managed by a separate entity – to ensure a secure connection.
For BNB Chain, GMP relays messages using BTP, the ICON blockchain’s interoperability protocol. BTP is decentralised, trustless, and secure, and GMP was built to complement and expand its reach.
GMP has one messaging standard for all cross-chain communication, so Balanced can take advantage of every chain it connects to.
Base, Injective, Optimism, Solana, Sui, Stacks, Stellar, and more. All coming soon.
You can learn more about GMP and BTP in the ICON docs.
Swap and transfer cross-chain on Balanced
Ready to swap and transfer crypto between the Ethereum and Cosmos ecosystems?
Visit app.balanced.network/trade and sign in with your favourite wallet.
To learn more about Balanced, check out the website and docs. If you have any questions, join the Balanced community on Discord.