Belt Finance V3 Official Launch!
1. Cross-chain Pool/Swap (3Tether: (bsc)USDT, (heco)USDT, (klaytn)KUSDT)
We released 3Tether pool consisting of three stablecoins on three different chains:
- USDT on BSC
- USDT on HECO Chain
- KUSDT on Klaytn
As the actual cross-chain bridging happens through stablecoin swaps, users will be able to easily move their assets from chain to chain with low impermanent loss and slippage, and without going to centralized exchanges. To accomplish this, we are utilizing Orbit Chain and its Orbit Bridge, a decentralized cross-chain bridging protocol, to facilitate the cross-chain swap aspect. Swaps happen on Orbit Chain with our Belt Router contract on each chain and our StableSwap, SwapReceiver contracts on Orbit Chain handling the different processes and LP creation necessary to make smooth cross-chain stableswaps on Orbit Chain possible.
Belt’s new cross-chain stableswap system also makes it possible to connect to existing liquidity-based DEX’s to make it possible for users to essentially swap any token to any other token on any of the connected chains (BSC, HECO, Klaytn). We’ve launched this in close cooperation and connection with the top DEX protocols available on those respective chains. This connection will expand the liquidity of each of these connected protocols to cover each other. The swap and aforementioned partnerships mean that our cross-chain stableswap will be the backbone of all cross-chain transactions made through these DEX protocols. We started off by connecting PancakeSwap and MDEX to cover the top DEX’s with the highest liquidity on BSC and HECO. We’ve also connected to KLAYswap, the largest DeFi protocol on the Klaytn chain. The amalgamation of us and these new partners will create a Belt cross-chain DeFi behemoth of more than $7B in liquidity and hundreds of thousands of unique users that are unrivaled in size and influence. All platforms need scalability in terms of liquidity and users to avoid stagnation. Belt’s new cross-chain swap will be the liquidity infrastructure to allow the expandability of swap protocols on these chains.
Going forward, we will be adding more chains and connecting new DEX protocols to allow for even more liquidity, more transaction volume, and efficient swaps. While our current focus is on stablecoins, we will eventually expand to allow cross-chain swaps of major assets like BTC and ETH so users will be able to more efficiently utilize these assets in our vaults and by extension, all top DeFi protocols on all our connected chains. We are currently talking with different protocol teams and public chain foundations to make this happen in the near future.
This cross-chain swap will be powered by a new cross-chain pool consisting of the aforementioned 3 tokens, USDT on BSC, USDT on HECO, and KUSDT on Klaytn. Collectively, this pool will be called the 3Tether pool. Users will be able to deposit on any of these and contribute to 3Tether LP and receive trading fee rewards and BELT rewards. The LP will be created on Orbit Chain and as such, swaps within the LP will be done on Orbit Chain.
2. Strengthened Security
Security should be of utmost importance as the reach of the Belt Finance ecosystem expands. As part of the security measures, we’ve completed the smart contract audits for Belt Finance V3, including Cross-chain AMM. This audit was performed by Dedaub, a prominent auditor specializing in smart contracts.
Find the full audit documents:
We’ve completed security audits, including the previously deployed contracts, and all discovered vulnerabilities are now completely fixed.
3. New Vaults on Klaytn (KLAY, KWBTC, KETH, KSP, KDAI, KUSDT)
This update also includes 6 new vaults on Klaytn. These vaults will also be spread across two strategies (Donkey, Qubit) to guarantee the most reliable and high yield.
You can now get the best yields not only on stablecoins but also on KLAY and KSP vaults!
4. Governance
As the shape of the protocol is now stabilized with beltToken vaults, improved on-chain stableswap, and cross-chain swap, it is now time for our supporters to decide the finer details and direction of the protocol themselves.
Through our governance, all BELT token stakeholders can voice their opinion by creating proposals or casting their votes. A proposal with a lot of community support may be classified into Belt Important Proposals (BIPs).
Belt Finance is governed by a decentralized community of BELT token stakeholders and their voting powers, who propose and vote on improvements to the protocol. Through our governance, all BELT token stakeholders can voice their opinion by creating proposals or casting their votes (1 Voting Power = 1 sBELT*2 + 1 BELT Balance) either to for, against or abstain. A proposal with a lot of community support may be classified into Belt Important Proposals (BIPs).
Official Belt Finance Channels & Sites
- Website: https://belt.fi
- Main Telegram: https://t.me/BeltFinance
- Price Discussion Telegram: https://t.me/BeltFiPriceTalk
- Announcement Telegram: https://t.me/BeltFiAnnounce
- Chinese Telegram: https://t.me/BeltFiChinese
- Twitter: https://twitter.com/BELT_Finance
- Medium: https://medium.com/belt-finance
- Docs: https://docs.belt.fi/
- Github: https://github.com/BeltFi/
Find us on:
- Defistation: https://www.defistation.io/beltfinance
- BSCProject: https://bscproject.org/#/project/288
- DappRadar: https://dappradar.com/binance-smart-chain/defi/belt-finance
- DeFiBox: https://www.defibox.com/defirange/?type=all&chain=bsc
- CoinMarketCap: https://coinmarketcap.com/currencies/belt/
- CoinGecko: https://www.coingecko.com/en/coins/belt
- Crypto.com: https://crypto.com/price/belt
