Two popular DeFi altcoin projects, Balancer (BAL) and Aave (AAVE), have partnered. With the effect of the partnership, increases were observed in the prices of the two altcoins. Balancer Labs has joined forces with Aave to overcome the declining capital efficiency of returns invested in automated market maker (AMM) pools. The new solution allows the remaining unused liquidity to be invested in lending protocols to generate more returns. cryptocoin.com We share the details and price movements…
DeFi altcoin prices rise with the partnership of Balancer and Aave
Balancer Labs announced the launch of Boosted Pools on decentralized finance (DeFi) lending protocol Aave. Users can now deposit some of their unused liquidity into automated market maker (AMM) pools to earn additional returns. Automated portfolio and liquidity provider Balance Labs has teamed up with Aave to launch Boosted Pools, which aims to address the problem of declining capital efficiency with returns on tokens invested in AMM pools.
Traders typically only use 10 percent of the liquidity available in AMM pools, provided their trade sizes are smaller than the available liquidity. According to Balancer, with Boosted Pools, idle liquidity can be invested in lending protocols for additional returns to be earned.
Fernando Martinello, co-founder and CEO of Balancer Labs, noted that there are several Boosted Pool innovations that lead to “tangible results, deeper liquidity, more efficient integrations for liquidity and higher returns.” Following the announcement of the launch of Boosted Pools, the Balancer (BAL) price jumped 13 percent, from an intraday low of $13.18 to $15.30. Aave (AAVE), on the other hand, rose 11 percent from $159.46 to $177.24.
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