Today in DeFi - PERP Token Announcement, Balancer adds SOR, Binance lists WNXM
PERP Token Announcement
Perpetual Protocol, a decentralized Perpetual Swap platform, announced its token launch and liquidity mining program yesterday. PERP tokens will be launched via a Balancer Liquidity Bootstrapping Pool. This is a special type of Balancer pool which changes weights as time goes on. This recreates a Dutch-auction style of price action where the price starts off high and then lowers. This would eliminate the benefit of front-running.
Find out more about the Balancer IDO and PERP liquidity mining program in the Medium Post.
Balancer adds Smart Order Routing
Decentralized Exchange Balancer has added multi-path and smart order routing. This allows liquidity to be sourced across Balancer pools when there is not a direct trading pair.
Previously on Balancer, to perform a token swap, there had to exist a pool with the pairs that you wanted to swap. This meant that much of the fragmented liquidity on Balancer very difficult to access.
With smart-order-routing, liquidity for smaller tokens will be much more accessible, and liquidity for all pairs should improve significantly.
Binance adds WNXM
Binance has just added WNXM, a wrapped, KYC-less version of NXM.
NXM is the token for Nexus Mutual, a popular smart contract insurance platform. WNXM is a community created Wrapped NXM token that previously only traded on Unsiwap.
The Binance listing will make WNXM accessible to a greater audience. New arbitrage opportunities may arise, leading to better price discovery for this previously low volume token.