What is Balancer Finance (BAL)? Detailed information about BAL cryptocurrency

Many tokens on the Blockchain network Ethereum start trading on Balancer, but you still don’t understand the concept Balancer Finance what? BAL Token what? How to Swap & Provide Liquidity (LP) on Balancer how?

In this article, let’s GTA Research team learn about Balancer Finance (BAL) for you to know more about the information above.

What is a balancer?

Balancer Finance (Balancer) is an automated market maker (AMM – Auto Market Maker), decentralized exchange (DEX) and the liquidity provider group protocol built on the blockchain of Ethereum allows users to provide simultaneous liquidity for multiple assets.

Balancer is not a protocol DeFi first to support automated market creation – there are already other platforms like Uniswap and Curve.

What makes Balancer unique is protocol supports up to 8 assets per market (weight of supported assets is arbitrary), along with custom transaction fees set by the creator of the pool.

How Balancer works

Balancer Finance protocol inheritance of Uniswap as a foundation DeFi mine. They build a mathematical function that is constant, based on the ratio of volume (quantity*price) between asset pairs that buy and sell when users trade on the Balancer pool. This allows their pool to hold multiple asset pairs in a pool with different ratios, but the pool’s general parameters remain unchanged.

This protocol allows for asset slippage and low gas fees.

Balancer Core

The main Core of Balancer includes:

Balancer Exchange: User can swap tokens with the best rate on all Balancer Pools through Smart Order Router (SOR).

Balancer Pools: Liquidity Pools are like Uniswap but with more customizable rates.

Balancer’s Pools have 3 types:

Shared Pool: Anyone can add more liquidity to the Pool and get back the Balancer Pool Token (BPT) to confirm the Fee share rate.

Private Pool: Only the Pool owner can add more liquidity and change the rate, add more tokens, change fee swap…etc.

Smart Pool: As an advanced form of Private Pool, the Pool Owner is Smart Contract, Smart contract will be the gateway allowing others to add liquidity to Pools and issue ERC20 tokens to ensure the share fee rate.

Balancer Finance Ecosystem

Balancer Exchange: List more than 75 asset pairs. Can swap tokens with the best rate on all available pools

Balancer Liquidity Pool:

Shared Pool: Anyone can add liquidity to Pool and get Balancer Pool Token (BPT) to confirm Fee share rate.

Private Pool: Only Pool owner can add liquidity and change rate, add tokens, change fee swap…etc

Smart Pool: As an advanced form of Private Pool, the Pool Owner is Smart Contract, Smart contract will be the gateway allowing others to add liquidity to Pools and issue ERC20 tokens to ensure the share fee rate.

When was the project established?

The project was established in September 2019

The project’s Twitter was created in September 2019 and currently has 88.7K Follow

Roadmap of the project

Updating…

Team – Project team

Updating…

Investors & Partner of the project

Updating…

What is Token Balancer Finance (BAL)?

Balancer (BAL) is an ERC20 token of Balancer Finance. Functions like Liquidity Mining (liquidity mining), governance voting, as well as staking.

  • Governance: BAL token holders can participate in proposals, vote on decisions such as adding/removing protocol functionality, changing fees, etc.
  • Rewards: BAL is used as rewards for Liquidity Providers (LPs) on selected Pools.

Tokenomics

Basic information about the Balancer Finance token

Token Name: Balancer Governance Token

Ticker: BAL

Contract: 0xd533a949740bb3306d119cc777fa900ba034cd52

Blockchain: Ethereum

Token Standard: ERC-20

Token type: Governance Token

Total Supply: 100,000,000 BAL

Initial Supply: 36,595,000 BAL

Circulating Supply: 10,799,858 BAL

Token Allocation

BAL has a total supply of 100,000,000 and is distributed as follows:

  • Liquidity Mining (Liquidity Mining): 65%
  • Team and team: 25%
  • Ecosystem development: 5%
  • Fundraising for token sale rounds: 5%

Token Release Schedule

Balancer did not give clear information about the release time of BAL of 3 categories Team & Founder, Balancer Ecosystem Fund and Seed Round.

Liquidity Mining will be distributed every week 145,000 BAL (~7,540,000 BAL per year) and it will take about 8.6 years to distribute all 65 million BAL.

Current BAL Token Rate

Where to buy and sell BAL tokens?

Balancer (BAL) is being traded on Balancer Exchange, Binance, MXC, OKEX and some other exchanges.

With an average total trading volume of $47.1 million, BAL is very liquid.

Community

Website: https://balancer.fi/

Twitter : https://twitter.com/BalancerLabs

Medium : https://medium.com/balancer-protocol

Discord : https://discord.com/invite/ARJWaeF

Conclude

Balancer Finance (BAL) peaked at $74.45 which is a massive increase over the seed round price just a few months after the token release. This is normal when DeFi is still the fever of the cryptocurrency market. At the same time, Balancer is also doing very well, pulling more people to use their product.

Balancer Finance (BAL) is almost a clone of Uniswap. This is DeFi trend marker project although there is still no information on the project’s roadmap and plan. When all Smart Contracts of Ethereum can always be attacked at any time so be careful when exchanging on the Balancer. For exchanges or choose a reputable one and research before investing because the risk is quite high.

Here is all the information GTA Research team has researched the Balancer Finance project and is not investment advice. Hope this article will help you get the necessary information and give your personal opinion about the project.

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