What is Balancer?
With the explosion of interest in decentralized finance (DeFi) in recent months, decentralized exchange platforms have become increasingly popular as a way to exchange crypto assets and earn a passive income.
Powering these decentralized exchanges are DeFi protocols such as Balancer, an automated market maker (AMM) that has enjoyed a staggering uptick in interest, thanks to a variety of innovative features that set it apart from the competition.
Here, we take a look at what Balancer is and what you can do with it.
The Balancer protocol was created by a blockchain consulting firm known as BlockScience, which held a funding round in March 2020—raising $3 million by selling 5 million of the platform's governance token 'BAL'.
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