TracerDAO is building on Balancer again!
The team at Balancer Grants subDAO is proud to announce the approval of the grant application by TracerDAO to introduce Aggregated Liquidity and Yield Generating Pools.
There will be two major projects scoped in this grant.
- Create a single stable coin pool on Balancer that will then be used to settle markets on Tracer. Using the LP token from the Balancer Pool allows us to have a single market (eg 3x ETH/USD) compromised of many stable-coins, as such increasing the liquidity in this market.
- Utilise Balancer boosted pools as well as Rari/Fei’s Fuse infrastructure to create the first derivatives lending and borrowing platform. Capital from our aggregated liquidity pool will be direct towards Fuse to allow this pool to earn further yield, as well as to kickstart the lending and borrowing flywheel.
This overall grant will be split into two separate grants with important deliverables in each. The first grant will be for a total of $60K USD and will cover two tranches. 1) subsidising of developer resources for deploying V2 pools as highlighted above and 2) completion of the Aggregated Liquidity features (approximately mid / late May)
Tracer was one of the first major projects to roll out on Balancer Arbitrum shortly after the launch of Arbitrum mainnet itself. TVL ramped up pretty quickly due partly to the uniqueness of Tracer’s perpetual pools and led to a good portion of trading volume in the early days of Arbitrum. Tracer’s V2 is looking to improve on the V1 system and it is great that Tracer wants to keep building with Balancer. I’m hopeful that both Balancer and Tracer will continue to have a fruitful relationship on Arbitrum and possibly beyond if necessary.
-ZeKraken
Utilising Balancer infrastructure has allowed the Tracer team to focus on our core product delivery while still having an easy system to route liquidity to and build unique products on top of. With our V2 release we are taking this a step further and using various Balancer Pools not only as our main market for leveraged Perpetual Pool tokens liquidity, but also to add new features to our product set and provide more unique value to our end users. We are excited to be rolling out aggregated liquidity, yield generating markets and lending and borrowing markets for derivatives with the help of the Balancer team.
- Ray Mogg
About TracerDAO
Tracer previously built on top of Balancer for their V1 release of Perpetual Pools, driving over $100m worth of volume through Balancer pools containing Tracer’s leveraged derivative tokens. They plan to continue to rely on Balancer’s underlying infrastructure with our V2 release and drive more volume through these Balancer pools.
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 — $75K) 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.
