Enjin becomes a Bancor V2 launch pool

Bancor has announced Enjin as a Bancor V2 launch pool. Enjin coin, ENJ holders are able to provide liquidity and earn a share of the pool’s trading fees.

Enjin is the leading blockchain gaming project in this space with over 3000 projects adopting their token standard. ENJ is being used to mint ERC-1155 blockchain assets that are largely used in games. Gamers and collectors can easily acquire those blockchain assets from the Enjin marketplace. While developers can easily sell their blockchain game items on the marketplace. However, item transactions are only available using ENJ.

With the Bancor V2 launch pool, more liquidity is now being provided to gamers and developers. Bancor’s V2 solution gives liquidity providers more benefits as compared to existing automated market maker (AMM) solutions.

Bancor V2 Launch Pool Benefits

One of the benefits is that liquidity providers can maintain 100% exposure to ENJ. Bancor’s new type of automated market maker (AMM) pool doesn’t require the provider to hold a separate reserve token when providing liquidity.

The next benefit is that it mitigates the impermanent loss. Impermanent loss is the difference between holding tokens in an AMM and holding them in your wallet. This can bring the liquidity provider negative returns.

Lastly, liquidity providers can enjoy 20X liquidity amplification. Bancor V2 expands the functionality to volatile tokens and introduces high capital efficiency to both stablecoin and non-stablecoin volume.

ENJ pool

The launch pool isn’t live yet but Enjin will be among the first pools to go live on the new system. Bancor V2 code is currently undergoing audits and stress-testing by Consensys Due Diligence and the 1inch.exchange team.

Bancor will be conducting an AMA on the Enjin Telegram Channel on Wednesday, 22 July, at 11:00 AM EST. They will be answering any questions about the functionality of the pools and the process of providing liquidity.

Previously on 24 June, Bancor also announced that Kyber Network’s Crystal (KNC) will serve as a Bancor v2 Launch Pool.



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