Balancer launches at Polygon to lower fees Promising to 'tu | Top DeFi

Balancer launches at Polygon to lower fees

Promising to "turn the index fund concept upside down," Balancer (BAL) is a DeFi project that allows users to charge fees to traders rather than portfolio managers. The protocol announced its latest development in a press release issued to CryptoPotato earlier on July 1.

The statement said Balancer "launched support for the Layer 2 Polygon solution to reduce gas costs."

Fernando Martinelli, CEO and co-founder of Balancer Labs, explained that the decision to choose Polygon was made after careful consideration of all available options. However, the growth of the project formerly known as MATIC, in terms of adopting names such as Aave and SushiSwap, was the deciding factor.

In addition to the promise of lower commissions for traders, the partnership between the two is also aimed at increasing DeFi's liquidity and making the space "accessible to everyone!"