Trade across every chain in ~30 seconds
Balanced now supports intent-based trades on 11 blockchains.
Balanced’s trade experience has just levelled up. You can now trade across 11 blockchains in 30 seconds, at the best price available thanks to SODAX.
If you’ve ever wanted to trade more frequently on Balanced but found yourself looking elsewhere due to bad exchange rates, it’s time to give it another look.
An upgrade that saves you time and money
The Balanced exchange now uses SODAX Intents to trade across 11 blockchains at a competitive price. It’s a game changer for the Balanced trading experience, which no longer requires millions of dollars in liquidity just to lock in a good rate.
When you enter an amount to trade, Balanced provides you with a quote courtesy of SODAX. SODAX acts as an aggregator for a growing list of exchanges, so you always get the best price.
And you don’t have to wait for SODAX to complete the full trade: it sends you the asset right after you create your order, which takes an average of 30 seconds. Only then does SODAX route through other exchanges to finalise the trade. View Cross-chain, solved by SODAX for more details about their solver solution, including how it uses the SODAX money markets to make trading even more efficient.
All trades include a 0.2% fee, which is factored into the quote. As this marks the start of Balanced’s transition from community-owned protocol to a frontend owned by PARROT9, swap fees are no longer distributed between bBALN holders and the DAO Fund. Instead, SODAX and PARROT9 will each receive 0.1%. Even with the fee, swaps are highly competitive.
Aside from S and WETH on Sonic, no new assets are included in this release, but the SODAX technology stack makes them much easier to add. If there are any additional coins you’d like to trade across Balanced’s connected chains, let us know on X/Twitter or Discord.
An improved trading experience and a connection to Sonic
The intents release includes some other adjustments to improve your trading experience, like a new Recent Activity dropdown to view your recent trades. And there’s now a better fail-safe in place: rather than cancel a trade manually, your funds are automatically returned if it takes more than 5 minutes to complete.
We also removed the Bridge tab, so whether you want to swap between different assets or use the same asset on a different chain, you can now do it all from the Swap tab.
SODAX Intents is the start of Balanced’s transition to SODAX as the underlying protocol, so Balanced has also added support for the Sonic blockchain — the base chain for the SODAX infrastructure. You can trade S, USDC, USDT, WETH, and bnUSD on Sonic, with more options available soon.
As for price charts, Balanced previously only supported them for pairs with a direct liquidity pool, like SUI/bnUSD. Now that we don’t rely on liquidity pools, we can no longer rely on these charts. We’ll ship new charts in a few weeks, which will support price history for every asset against USD.
Limitations of this release
As we’re in the middle of the transition to the SODAX technology stack, there are a few limitations to this release.
- Intent-based trades are available on every connected chain except Archway, Havah, and Injective, and ICON only supports ICX and bnUSD. You can trade previously supported assets, including BALN, sICX, and INJ on the legacy exchange, and support for intent-based trades on Injective will come soon.
- Liquidity pools use the old tech stack, so they have also been removed from the Trade page. You can still supply and withdraw liquidity via the legacy Trade page, and pools incentivised with BALN will continue to earn rewards until we remove governance and halt BALN inflation, currently expected in October.
- There are now two versions of bnUSD. Trades use the new version on every chain except ICON, which only supports bnUSD(old). Loans, Savings Rate, and rewards all use bnUSD(old). If you need bnUSD(old) to repay your loan or use the Savings Rate, or you need the new bnUSD to trade, use the new Migrate tab on the Trade page to swap between them. Learn more in the Balanced docs.
For efficient cross-chain trades, use Balanced
Experience the power of intent-based trades across 11 blockchains from app.balanced.network/trade.
And with even more improvements to look forward to in the coming months, make sure to follow Balanced on X/Twitter, join the Balanced Discord channel, or subscribe to receive new updates via email: