Balanced connects to Avalanche

Balanced’s second cross-chain connection has arrived. You can now use an Avalanche wallet to swap and transfer crypto between Avalanche, ICON, and Archway (Cosmos).

If the list seems modest, know that it’s just the beginning. Another 8+ connections and cross-chain loans are on the way, so Balanced’s utility as a cross-chain DeFi platform is about to snowball.

Learn more about Balanced and how you can take advantage of the Avalanche connection.

Cross-chain DeFi with a dedication to design

Balanced is a DeFi product crafted for simplicity. Home to the bnUSD stablecoin and a decentralised exchange, its deliberate design style packages the functionality you need into an app loved by beginners and experts alike.

You can use Balanced on Avalanche to swap between assets on different chains, and transfer crypto to a supported blockchain.

The Swap tab set to swap AVAX on Avalanche for bnUSD on ICON.

The Bridge tab set to transfer AVAX between Avalanche and ICON.

If you connect an ICON wallet, you can also borrow bnUSD, supply AVAX liquidity, earn rewards, and participate in governance.

The Supply tab with AVAX/bnUSD liquidity.

A bnUSD loan on the Home page with AVAX as collateral.

Balanced is on a journey to become a leading cross-chain DeFi protocol. To help its cause, Balanced and the ICON Network agreed to an economic enshrinement. ICON uses ICX emissions to buy the native token for each connected chain, which it supplies as liquidity to improve the trading experience. In return, Balanced uses 50% of its revenue to buy and burn ICX.

Thanks to ICON’s efforts, the AVAX/bnUSD liquidity pool has ~$400k ready to supply your trades from launch.

Avalanche and Archway were the first connections, and they took time to get right. But now, the pace quickens: BNB Chain, Injective, Ethereum, Arbitrum, Base, Optimism, Sui, Stellar, Stacks, and more. All coming soon.

Balanced has already connected smart contracts to most of them, and ICON is building up liquidity to prepare for each launch. Once available in the app, you’ll be able to leverage Balanced’s connections to swap and transfer between a growing range of assets and chains.

How does the cross-chain connection work?

All cross-chain connections are powered by GMP (general message passing).

GMP is the ICON blockchain’s cross-chain messenger, which uses smart contracts to interact with supported chains. It connects to a custom relay on Avalanche, which uses multiple relays – each managed by a separate entity – to ensure a secure connection.

You can learn more about GMP in the ICON docs.

Try Balanced on Avalanche today

Ready to swap and transfer crypto cross-chain?

Visit app.balanced.network/trade and sign in with an Avalanche wallet.

You can learn more about Balanced on the website and in the docs.

For any questions about Balanced, ICON, or our cross-chain connections, join the Balanced Discord.