Balancer (BAL), an automatic market maker, was launched on the Ethereum blockchain in March 2020. After initially raising 3 million dollars, Balancer doubled its success. Funded by leading investment firms such as Placeholder and Accomplice, Balancer quickly became popular with new features like self-balancing portfolios, price sensors, and liquidity providers. Balancer Lab was developed by well-known developers Fernando Martinelli and Mike McDonald.
Balancer Coin is a cryptocurrency that users can easily utilize to provide liquidity across different platforms. By providing liquidity with BAL Coin, users support the sustainability of the project and earn revenue.
Through BAL, users can participate in private investment pools, own the pool’s management token, and earn a regular income. In addition to private investment pools, Balancer also has a concept of shared pools, which offer investors the opportunity to earn different cryptocurrencies under the name Balancer Pool Token (BPT).
Balancer made its most significant innovation with a system called smart pools. BAL Coin holders can directly enter these pools to experience an environment similar to private investment pools, but managed directly by smart contracts. Users are also given the chance to earn different tokens like BPT.
BAL Coin rapidly increased its value from 10 dollars to nearly five times as much, reaching 49 dollars. At the time of writing this article, the unit price of BAL Coin is 44.74 dollars, ranking it 112th. Balancer has reached a volume of 284 million dollars in 24 hours and has a total market value of 310 million dollars. Looking at Balancer’s total supply, the potential value it could reach based on the current price is seen as 4.471 billion dollars. There are a total of 35 million BAL in circulation, while the total supply is observed to be 100 million.