Crypto coin

Buy Balancer (BAL)

$5.98 AUD

 2.09% ()

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What is Balancer (BAL)?

Balancer (BAL) is a DeFi protocol that enables users to design scalable AMMs for trading cryptocurrencies and supplying ecosystem liquidity. The platform gives LPs the chance to profit from trades executed on their pools.

The History of Balancer

Mike McDonald, Fernando Martinelli, and Nikolai Mushegian introduced Balancer in March 2020. One of the earliest decentralised mining pools, SmartPool, was developed by the same team as Balancer. The DeFi ecosystem was experiencing liquidity problems, which led to the development of Balancer.

The Use Case of Balancer

Users can design customised AMMs with up to eight distinct tokens with various weights using Balancer. To maintain the proper weightings, the platform automatically modifies the pricing of the tokens based on their respective supply and demand. Users now have a new tool to diversify their portfolios and control risk thanks to this innovation.

Balancer also gives liquidity providers (LPs) the chance to make money on trades executed through their pools. LPs contribute a proportionate quantity of each token to the pool in exchange for a share of the trading commissions that pool users must pay.

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BAL Price Statistics

coingecko
Balancer Price
$5.98
24H Low/24H High
$5.79/$6.03
7D Low/7D High
$3.3123668/$4.0069224
Trading Volume
$14,110,136.00
Market Cap Rank
#288
Market Cap
$340,783,662.00
Volume/Market Cap
$0.041405
All-Time High
$96.48 -93.80%
04 May 2021 (about 3 years)
All-Time Low
$4.62 29.62%
19 Oct 2023 (7 months)
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