Balance Capital is excited to share updates about our journey and the future of our products. Our team is working hard to enhance existing offerings and develop innovative new solutions for our community. We remain committed to providing the best services and tools for the evolving digital landscape.
In private beta, we're refining and expanding Liqd's capabilities for a secure and efficient lending experience, thanks to the help of our NFT scene users and community leads.
A next-gen binary options trading platform launching in Q3 2023, built on the Arbitrum Layer 2 scaling solution. Get ready for a seamless and exciting trading experience!
We're partnering with an ecom product that combines DeFi and web3 tech with a unique approach to the online market.
The new tokenomics proposal aims to transition FHM holders to a new token called Balance (BLNC) with a fixed supply and improved utility. If the proposal passes, FHM will be migrated to BLNC tokens on a 1-to-1 basis. BLNC tokens will act as governance tokens for the Balance DAO and allow holders to receive airdrops based on the protocol's profits. However in addition to this, we will airdrop an additional 2.9M in stablecoins first 18 months.
To receive voting rights and airdrops, users must lock their BLNC tokens, receiving vested tokens that accumulate over time. Vested tokens can be wrapped into NFTs for transferability. Unlocking BLNC tokens will result in burning the vested tokens and forfeiting voting rights and airdrops. The proposal also introduces vote-escrowed Balance tokens (veBLNC) with a locking reward mechanism to incentivize long-term holders. Lastly, the proposal outlines a revenue distribution plan and additional benefits for Balance Pass holders
For more details, check out https://www.balance.capital/blog/balance-capital-update
Below is a summary of transactions made by the protocol followed by a brief financial summary of the current financial state of the protocol. Included is the reasoning and expected future structure overview with an introduction into LIQD.
Wonderland was one of the first OHM based protocols with a treasury of over $1 Billion and was looking to expand their reach with development and cross-chain activity. Luna was a network token for the Terra chain and was a multifaceted investment strategy that would have implications not only to the investment but the entire crypto market. The acquisition of the Luna token was more for the result of expansion that was near completion before the collapse of the network. Eth, BTC, FTM, Luna, Beets, Liquid Driver and Spirit tokens were purchased to create liquidity pairings for USDB. After the collapse of UST and the Terra network, market sentiment shifted resulting in new or existing projects no longer wanting to pair with USDB.
Balance has invested in a coupon partner that will allow them to integrate into the e-commerce space. Layer 0 interoperability solutions like DOT and ZK/ZK-SNARKs rollups like BOBA and DUSK will help achieve global adoption of cryptocurrencies. Balance invested in OHM and FIP-0004 DAO to demonstrate their belief in OHM forks, but due to the collapse of LUNA these investments were impacted. Balance also invested in e-commerce and pivoted to a stablecoin and reserve currency structure to focus on development. This pivot allowed the protocol to be more in control of its future earnings and cast a wider income net for the future.
The protocol has transitioned to Balance due to market conditions, with the primary focus on creating an effective team structure and closing the chapter on the OHM fork structure. Next steps include ending rebase rewards and changing the token to Balance, which will be put to a DAO vote before being implemented.
For more details, check out https://www.balance.capital/audit