What is a Balancer (BAL)?

 What is a Balancer (BAL)?

Balancer (BAL)

What is a Balancer (BAL)?

Balancer is a Market Automation Maker (  AMM  ) developed on the Ethereum blockchain and launched in March 2020. It has raised $3M by Placeholder and Accomplice protocol balancer  . Acts as a self-weighted portfolio price sensor and liquidity providers Allows users to earn profits through the newly launched token ($BAL) by donating to customizable liquidity pools.

The protocol performs a few types of pools:

• Private pools  let the owner maintain the Pool and make that person a contributor to pool liquidity.  Additionally, all parameters are subject to change by the owner.
• Shared pools  are for those who want to be Liquidity Providers  (LPs) LPs  are awarded as Balancer Pool Tokens (BPT).
• Smart pools are  similar to  Private pools  but are controlled by smart contracts.  They also reward using BPT and allow anyone to participate in liquidity.

Who is the founder of Balancer?

Balancer Lab was founded by Fernando Martinelli and Mike McDonald but started as a research project at a software company. 2018's "BlockScience" Project Balancer brings together smart, like-minded colleagues with a deep understanding of the DeFi space.

Fernando Martnelli , serial entrepreneur and member of the Maker community, has years of experience working outside of Balancer  . a lot before he started Balancer with his partner Mike McDonald.

Mike McDonald is Co-Founder and CTO of Balancer.  He is a security engineer and creator of mkr.tools. He joined Fernando Martnelli to create the Balancer platform.

Balancer COO Kristen Stone has been working in the crypto industry for over five years. She is a product manager at Coinbase and has built teams in product and engineering.

Timur Badretdinov is a front-end developer and worked on several projects before working at Balancer.  He founded a company called “Longcaller”, a platform focused on cryptocurrency reviews and educational blockchain content.

What makes Balancer unique?

Balancer is similar to Uniswap and Curve, which allows anyone to create pools of tokens. The pool adjusts itself so that the tokens have the same weight regardless of price changes.  However , one unique feature of the Balancer is that more than one token can be added and ETH is not required.

Although Balancer is not the first DeFi protocol to use AMM, it has brought a new front and direction to liquidity. A unique feature of the protocol is that it allows liquidity providers to have up to eight assets per market. which is weighted as a percentage and automatically rebalanced.

With Balancer, users do not have to deposit 50% of the required assets. But it is allowed to decide how much of the supported assets you want to deposit. Another unique feature of Balancer Lab is that users can generate high returns on low demand assets through arbitrage opportunities and slippage reductions.  You can learn more about how Balancer works here.

How many Balancer Tokens (BAL) are in circulation?

Balancer was not launched with legacy tokens.  However, in June 2020, they launched the $BAL governance token following the success of the Compound  token. More decentralized and an incentive for LPs

Of the 100 million tokens created, 25 million are reserved for teams, key developers, investors and advisors  . 5 million tokens are allocated to the Balancer Ecosystem Fund, which will be used as incentives for strategic partners.  Another 5 million people have been allocated for fundraising funds. This fund will be used by Balancer to support operations and growth in future funding.

The remaining tokens will be mined by liquidity providers on the platform and released at a rate of 145,000 per week.  If the distribution rate is stable, it will take approximately  8.6 years to complete the token distribution.

How secure is the Balancer network?

For balancers, security is of the utmost importance. And that's why the protocol has been fully reviewed three times by Trail of Bits, ConsenSys and OpenZeppelin.  There are no admin keys or backdoors. thus making it unreliable and pool balancers are not upgradeable.  Balancers do not support tokens that are not ERC-20 compliant, although they may be used in some pools.

The tokens stored in the Balancer's pool are not regulated by the Balancer, but rather smart contracts.  However, that does not eliminate the inherent risk of smart contracts. A configurable permission group (CRP) ensures that known problematic tokens are prohibited from being used in the pool. It also ensures that all other tokens safely interact with the protocol.

Where can you buy Balancer Token (BAL)?

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• Binance
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• Nexo
• Crypto.com
• Gate.io
• OKEx
• KuCoin
• CoinBene
• eToro
• Huobi Global
• Bitfinex
• FTX
• ZG.Com
• CoinTiger
• Bitkub
• Satang Pro
• Olymp Trade
• Expert Option
• Binomo
• TradingView
• Deriv.com
• Exx.com
• FatBTC
• BitMart
• XM
• Exness
• FBS
• Skrill
• Neteller
• MinerGate

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