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We are thrilled to announce the successful migration of ETH assets held via ICON Bridge contracts to the Balanced Asset Manager contract on BSC. Over the past week, the ICON Network has begun acquiring ETH on BSC to be provided as Network Owned Liquidity on Balanced’s Cross-Chain DEX.
Additionally, Balanced contracts have now gone live on Arbitrum and Base, allowing the ICON Network to begin acquiring ETH on these chains as well.
The acquisition of ETH across multiple cross-chain sources highlights a unique aspect of Balanced’s ICON GMP implementation, the ability to acquire ETH across multiple networks and consolidate them into the same liquidity pool. This design enables Balanced to offer cross-chain swaps of ETH, benefiting from a single, unified liquidity pool.