TVL > 100K
What is Balancer (BAL)?
Balancer is software that runs on top of the Ethereum blockchain and is intended to incentivize a distributed network of computers to operate an exchange. On this exchange, users can buy and sell cryptocurrency, and it's a decentralized finance (DeFi) protocol that goes by the name of an automated market maker (AMM). This means that rather than using order books for processing trades, it directly swaps one asset for another through liquidity pools, ones created y the users. Balancer is an AMM, DEX, and liquidity pool used for swapping ERC-20 tokens without relying on centralized entities.
Who are the founders of Balancer (BAL)?
Balancer originated as a research program at the software development company Block Science in 2018. The Balancer Lab was founded by Fernando Martinelli and Mike McDonald. Fernando Martinelli is a serial entrepreneur and a community member of Maker and has worked on many projects before developing Balancer. Mike McDonald is the co-founder and CTO at Balancer and Is a security engineer. He created mkr.tools and joined Martinelli on his mission towards building the platform. Additionally, there is also Kristen Stone who is the COO at the company and has had past experience working at Coinbase.
What makes Balancer (BAL) unique?
Balancer is a fully permissionless platform that allows anyone to access it as long as they can connect a cryptocurrency wallet that supports it. It is a platform that uses an algorithm to manage its order rather than the bid and ask system of many centralized exchanges. The BAL token is the native cryptocurrency token used for Balancer and plays an essential part in the distribution of its operations, ensuring that no central party can control it. BAL users can vote on the weekly rate of BAL distribution, Balancer protocol fees, and the possibility of it becoming available on other blockchains.
Get crypto analysis, news, and updates. Join our friendly crypto community and stay up to dateJoin now