Boot Finance building our newest custom pool — an Underwriting Market Maker
The team at Balancer Grants subDAO is proud to announce the approval of the grant application by Boot Finance to implement a UMM (Underwriting Market Maker) using Balancer.
Boot Finance’s proposal is an interesting implementation on top of a Balancer custom pool which allows for a customized swap curve that allows two different swap curves to be separated by a price floor. This functionality allows projects to do custom market making around supporting a particular price floor for their project token and providing an ability to reduce token volatility, encouraging projects to split their liquidity into Balancer.
An example simulation can be seen here https://customswap.herokuapp.com/
“Boot Finance is building a very exciting new custom pool type that allows for multiple swap curves to be utilized in a single liquidity pool. This fresh approach to AMM’s could revolutionize how protocols deal with their liquidity. By building a Balancer Custom Pool, they are able to focus their efforts on the work that matters while inheriting the benefits of being integrated into the Balancer Vault.”
— Mike B, Balancer Maxi & Grants Committee member
“The custom pool functionalities of Balancer and configurability of the fees allows us to build a metaAMM on top of Balancer. By using Balancer we can participate in and add to existing/new liquidity for multi-hop swaps. Balancer’s “callback” architecture allows us to focus on the unique aspects of the custom swap math rather than having to deal with the entire smart contract stack.“
— Velo, Boot Finance
About Boot Finance
Boot Finance will leverage Balancer Protocol’s custom pool functionality to develop a UMM (underwriting market maker). This will allow users to create multiple custom swap curves within the same liquidity pool.
About Balancer Grants
The BAL Grant program is one way BalancerDAO promotes the development of the Balancer Protocol and Ecosystem.
The BAL Grant program provides support and funding ($1K — $100K) to projects committed to supporting Balancer Protocol in achieving its mission to become the number one source for Decentralized exchange trades. This program is a good fit for individuals and groups that want to run a project that builds technology or resources on the Balancer Protocol.
Apply now!
If you are interested in supporting the development of the Balancer Ecosystem or want to build on top of the Balancer Protocol, this is your chance! Get started by filling in the Grants Application form. You can also check out our RFP page for inspiration!
Do you have marketing/sponsorship related opportunities you would like to discuss? Please check out the Marketing subDAO here and its own application form here.
For further questions about how the Grants subDAO works, check out the grants page, follow us on Twitter, or send an email to grants@balancer.community.
