The current price of Balancer is $0.96530. Over the last 24 hours, Balancer has increased by +1.07%. It currently has a circulating supply of 63,157,639 BAL and a maximum supply of 96,150,704 BAL, giving it a fully diluted market cap of $61.02M. At present, the Balancer coin holds the 216 position in market cap rankings. The Balancer/USD price is updated in real-time.
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The crypto industry dedicated significant time to solving the challenge of creating decentralized exchanges (DEXs) as an alternative to centralized platforms. However, initial DEXs faced issues with limited liquidity, which hindered user adoption. This changed with the advent of automated market makers (AMMs), providing DEXes with a more robust solution. Balancer, a popular project, is an example of an AMM successfully addressing liquidity challenges in the industry today.
What is Balancer?
Balancer is an AMM built on the Ethereum blockchain. Launched in March 2020, it raised $3 million through a seed round. Like other AMMs, Balancer offers its own liquidity pools where users can deposit tokens. By contributing liquidity to these pools, users become liquidity providers (LPs), and their assets are utilized for executing transactions on exchanges. LPs receive rewards in exchange for their participation, making it an incentivized and beneficial role.
The Balancer project team
Fernando Martinelli and Mike McDonald founded Balancer. The project originated as a research program within BlockScience, a software company, in 2018 before evolving into its current form. Before Balancer, Martinelli had a background as a serial entrepreneur and was actively involved in the Maker community. McDonald assumed the role of CTO at Balancer, leveraging his experience as a security engineer and the creator of mkr.tools.
How does Balancer work?
Balancer operates as a self-balancing weighted portfolio, serving as an LP and a price sensor. It allows users to generate profits through its native cryptocurrency, BAL. To participate, users contribute to the project's customizable liquidity pools. Three types of pools are available: private, shared, and smart.
Private pools grant ownership and governance to the pool creator, while shared pools are designed for LPs. Smart pools function similarly to private pools but are controlled by smart contracts. Users earn rewards in the form of Balancer Pool Tokens (BPTs).
Balancer native token: BAL token
The native cryptocurrency of the Balancer project is BAL. Although it was not initially introduced at the project's launch, BAL was created in June 2020 to function as the project's governance token. This decision was influenced by the success of Compound's COMP token.
Currently, BAL enhances decentralization and serves as a motivating factor for LPs. The maximum BAL supply is 96.1 million tokens, with a total supply of 57.6 million units. As of June 2023, the circulating supply of BAL is 49.95 million tokens.
BAL token use cases
As a governance token, BAL holds primary use cases within the Balancer ecosystem. It enables token holders to participate in decision-making by voting on proposals and shaping the platform's future.
Apart from its governance role, BAL can be used for trading and purchasing, provided entities are willing to accept it. Furthermore, users can stake BAL to earn rewards and provide liquidity in Balancer's pools, further enhancing the token's utility within the ecosystem.
Balancer token distribution
Balancer token (BAL) distribution is as follows:
Twenty-five percent was reserved for the team, core developers, investors, and advisors.
Five percent was allocated to the Balancer Ecosystem Fund for incentives and partners.
Five percent was allocated to the fundraising fund.
Liquidity providers will mine the remaining tokens.
The importance of AMMs
AMMs, including Balancer, hold significant importance in the crypto industry as they facilitate the existence and operation of DEXes. By offering liquidity, AMMs contribute to advancing the industry's goal of achieving complete decentralization.
Furthermore, AMMs provide traders with an alternative to centralized exchanges (CEXs), allowing them to engage in decentralized trading. Additionally, LPs can earn passive income by supplying liquidity to AMMs. The project's ability to benefit all parties involved is among its greatest strengths.
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Number of posts mentioning a token in the last 24h. This can help gauge the level of interest surrounding this token.
Contributors
Number of individuals posting about a token in the last 24h. A higher number of contributors can suggest improved token performance.
Interactions
Sum of socially-driven online engagement in the last 24h, such as likes, comments, and reposts. High engagement levels can indicate strong interest in a token.
Sentiment
Percentage score reflecting post sentiment in the last 24h. A high percentage score correlates with positive sentiment and can indicate improved market performance.
Volume rank
Volume refers to post volume in the last 24h. A higher volume ranking reflects a token’s favored position relative to other tokens.
In the last 24 hours, there have been 1K new posts about Balancer, driven by 709 contributors, and total online engagement reached 201K social interactions. The sentiment score for Balancer currently stands at 87%. Compared to all cryptocurrencies, post volume for Balancer currently ranks at 2919. Keep an eye on changes to social metrics as they can be key indicators of the influence and reach of Balancer.
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Posts
1,006
Contributors
709
Interactions
201,381
Sentiment
87%
Volume rank
#2919
X
Posts
446
Interactions
75,568
Sentiment
96%
Balancer FAQ
What is Balancer (BAL)
Balancer (BAL) is an automated market maker (AMM) designed to function as a self-balancing weighted portfolio, providing users with specific key properties. Additionally, it serves as a price sensor, allowing users to collect fees for providing liquidity instead of paying them to portfolio managers.
What are the benefits of using Balancer?
Utilizing Balancer offers a range of benefits for all participants involved. Traders gain access to liquidity, liquidity providers receive rewards, and the crypto industry progresses toward greater decentralization.
Currently, one Balancer is worth $0.96530. For answers and insight into Balancer's price action, you're in the right place. Explore the latest Balancer charts and trade responsibly with OKX.
What is cryptocurrency?
Cryptocurrencies, such as Balancer, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX and their different attributes, which includes live prices and real-time charts.
When was cryptocurrency invented?
Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as Balancer have been created as well.
Watch this video to learn about what happens when you move your money to a crypto exchange.
Disclaimer
The social content on this page ("Content"), including but not limited to tweets and statistics provided by LunarCrush, is sourced from third parties and provided "as is" for informational purposes only. OKX does not guarantee the quality or accuracy of the Content, and the Content does not represent the views of OKX. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly. The price and performance of the digital assets are not guaranteed and may change without notice. OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. For further details, please refer to our Terms of Use and Risk Warning. By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX and its affiliates (“OKX”) are not in any way associated with the owner or operator of the TPW. You agree that OKX is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets. Product may not be available in all jurisdictions.
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