Balancer’s advanced V2 platform will integrate with HaloDAO, a DeFi project promoting stablecoins not pegged to the US dollar, to improve yield and swaps for XSGD, THKD, EURS, and other major non-USD stablecoins, Invezz learned from a press release. Being one of the only feasible AMM architectures to achieve swaps between fiat currencies and other relatively non-volatile assets, the V2 platform is a top solution for HaloDAO’s goal.
Custom AMM curves optimize forex trading among other benefits
HaloDAO can create customized bonding curves to optimize forex swaps by integrating with Balancer, but that’s not the only benefit. The stablecoins promoted by HaloDAO enjoy improved yield generation and overall liquidity. Creating additional pairs with leading cryptos and stablecoins is easy with Balancer V2. This results in the formation of useful markets like ETH/TAUD and BTC/XSGD. Moreover, V2’s capital-efficient model will make composable usage of local stablecoin liquidity possible, for example by increasing yield through lending underlying reserves.
Triple dip reward scheme
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Users can avail of this scheme thanks to the supply of liquidity to HaloDAO’s Balancer pairs. The scheme relates to BAL, RNBW, and swap fees. HaloDAO is also working on lending markets for the local stablecoins. Considering the ability to provide these vaults with AMM pool reserves, this is expected to be especially efficient.
Jun Ming, Co-Founder of HaloDAO, commented:
“The integration with Balancer V2 enables HaloDAO to complete several elements of its vision in one fell swoop. We want to create a full stack ecosystem for local stablecoins, and this means creating enough liquidity so that users could swap from local stablecoins into cryptocurrencies, or back. Coupled with our second step, the provision of simple fiat-to-crypto gateways from local currencies to local stablecoins, we can finally bootstrap a DeFi and crypto ecosystem detached from the US dollar.”
Connecting users in USD countries with digital assets
The goal of HaloDAO is to connect users from countries, which have a strong USD presence to digital assets. Focusing on creating on and off-ramps for local fiat and local stablecoins is an important step.
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