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Balanced Network stats after 2 months of Launch

Balanced Network stats after 2 months of Launch

Balanced Network , a DAO( Decentralized Autonomous Organization ) is the first Defi project in the ICON network  which incentivizes people to deposit their ICX as collateral and borrow balanced USD-bnUSD which is equivalent to USD. Users can also supply assets to a liquidity pool. Doing so, users will get a reward ($BALN token) which represents ownership in the Balanced DAO, and include benefits like income from network fees etc. To know more about how to use Balanced.network, go through our compilation for some of the best videos/resources about the Balanced DeFi ecosystem.

The platform went live on 25th April 2021. It was one of the most awaited platforms by ICONists. Since launch, it has been one of the successful DeFi platforms with a total locked value over $ 92.86 million.

As of now, the total supply of $BALN token is 6 million.

Annualized inflation schedule of $BALN:

  • At day 60: 618% 
  • At day 180: 133% 
  • At day 360: 38% 
  • At day 540: 14% 
  • At year 2: 5% 
  • At year 3: 1.8% and keeps dropping

So, From tomorrow i.e 25th June , BALN distribution will decrease by 0.5% each day. The journey to 1,250 BALN a day (below 2% inflation) has begun. 

We believe that some of the features like 0% interest rates, faster and cheaper transactions, clear price tracking mechanism, staking reward could be the reason for its popularity in such a short period of its launch.

Here are some exciting stats for Balanced Network as of 24th June 2021:

  • Total number of borrowers : 5,060
  • Total Balanced dollars bnUSD: 11,107,335.62 bnUSD
  • Total value locked in loans : 56,483,252 USD
  • Total value locked in DEX : 36,379,792 USD
  • No of Unique sICX/ICX liquidity providers : 732
  • No of Unique sICX/bnUSD liquidity providers : 1,370
  • No of Unique BALN/bnUSD liquidity providers : 1,852
  • Total fees generated: 1,039,567 USD
  • Total BALN Holders: 10,227
  • Total bnUSD Holders: 5,000 

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For latest statistics go to Balanced statistics or BrianLi website.

Support Balanced developers : ICX Station, ICONOsphere, Parrot9, ICON DAO, Geometry Labs, Mousebelt.

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