What is Balancer (BAL)?

Website: https://balancer.finance/ 

Maximum Supply: 100,000,000 BAL

Total Supply: 35,725,000 BAL

Circulating Supply: 6,943,831 BAL

Explorer: Balancer Explorer

Whitepaper: Balancer Whitepaper

What is Balancer (BAL)?

Balancer (BAL) is an automated market maker developed on the Ethereum blockchain and released in March 2020. The Balancer protocol functions as a self-balancing, price alert and liquidity provider. In the Balancer protocol, “liquidity mining” is done. BAL tokens are given as a reward for the liquidity provided to the system. Balancer has a structure that operates three types of pools: Private Pools, which gives the owner management over the pool, making the person the only person providing liquidity to the pool. Shared Pools are for those who want to be liquidity providers. Liquidity providers are rewarded with Balancer Pool Tokens. Smart Pools are similar to private pools but smart pools are controlled by a smart contract.

An important feature of Balancer is that multiple tokens can be added and ETH is not required. With Balancer, users are not required to deposit 50% of the requested asset, but are allowed to decide how much of a supported asset they want to deposit. Safety is a top priority for Balancer, and that's why the protocol has been triple audited by Trail of Bits, ConsenSys, and OpenZeppelin. Balancer does not support tokens that do not comply with the ERC-20 standard, even if they are in use in some pools.

Who is the Founder of Balancer (BAL)?

Balancer was founded by Fernando Martinelli and Mike McDonald. The Balancer project contains content that has a keen understanding of the DeFi space. Mike McDonald is the co-founder and CTO of Balancer. He is a security engineer and creator of mkr.tools. Timur Badretdinov is a front-end developer and has worked on several projects before he started working at Balancer. 

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