- Copper announced its continuation on the Balancer Protocol’s Liquidity Bootstrapping Pools (LBPs).
- Collaboration aims for a self-sustaining decentralized ecosystem.
- Copper will charge 2% fees on the fund raised on projects.
Copper announced its partnership with Balancer Labs to make innovation on the Balancer Protocol’s Liquidity Bootstrapping Pools (LBPs). The partnership will generate revenue to create a self-sustain ecosystem for both.
Copper is a launchpad for many tokens, where developers can launch tokens without permission. Previously, Copper has launched many tokens on LBPs and some of them have successfully accumulated funds. Recently, GuildFi and Merit Circle have become record-breaking LBPs and raised $139 million and $103 million respectively.
“Balancer Labs is very excited to be working with the Copper team to build out LBPs, focus on revenue generation, and much more to come! We are looking forward to fostering the growth of projects that are built on Balancer, as we believe that is the clearest pathway for joint success.”
Copper and Balancer Labs are aiming for a self-sustaining and revenue-generating decentralized ecosystem to ensure long-term viability. To achieve this goal, Copper will charge 2% fees on funds raised on Copper Launchpad, which will be split equally between Copper and Balancer DAO.
As per the blog, The solution will go live on Polygon and Ethereum respectively on 09/12/2021 and 15/12/2021.
The projects on Copper launchpad will be allowed to take fees according to their goals. However, Copper has suggested 2.5% transaction fees to developers.
Balancer is partnering with many decentralized organizations and upgrading its protocol. Recently, Balancer announced a deal with Fei DAO through a DAO agreement connecting their interests. Fei V2 and Balancer V2 integration aims to provide high liquidity and efficiency to both firms respectively and initiated a Token Swap.