$117,549.00
-0.40%$2,941.62
-1.91%$2.78
-0.65%$687.40
-0.75%$160.09
-4.43%$0.999899
0.00%$0.197167
-3.67%$0.300551
0.90%$2,938.43
-2.00%$0.714588
-4.95%$46.25
0.03%$117,401.00
-0.23%$3,550.86
-1.89%$0.38633
12.54%$3.38
-5.00%$15.06
-4.71%$509.60
-4.26%$20.81
-2.99%$0.197778
-3.66%$9.05
1.04%$3,152.49
-1.89%$0.00001323
-3.63%$2.96
-1.45%$0.999855
0.01%$2,941.04
-1.96%$92.64
-4.74%$46.33
-0.76%$1.001
0.29%$328.23
0.68%$117,534.00
-0.40%$3.92
-3.52%$1.00
-0.02%$0.00001223
-5.20%$4.36
-4.37%$8.35
-6.35%$298.67
-4.13%$382.10
-3.95%$0.465374
-6.55%$0.10162
-0.65%$4.82
-4.36%$1.18
-0.15%$2.48
-5.70%$48.44
-3.69%$5.29
-4.89%$1.00
0.00%$194.41
-4.68%$18.20
-3.15%$0.872144
-6.18%$1.059
0.02%$0.084432
-7.79%$1.00
0.06%$0.640455
-0.23%$4.61
-3.26%$0.229617
-2.67%$0.324523
-8.77%$0.02376922
-5.66%$0.394602
-6.17%$9.65
-5.68%$16.14
-2.12%$4.46
-0.10%$0.219868
-4.09%$0.00002431
2.74%$3.59
-7.41%$0.324579
-4.97%$0.689611
-8.52%$2,940.61
-1.79%$1.025
-6.81%$2.53
-4.52%$117,559.00
-0.20%$113.26
-2.96%$0.07741
-7.98%$4.70
-1.99%$169.83
-3.80%$0.999725
0.00%$11.41
0.05%$0.99754
-0.24%$1.53
-7.87%$0.471999
-7.08%$3,085.34
-1.94%$0.02230407
3.49%$3,353.59
-1.92%$1.001
0.20%$1.87
-4.44%$1.28
0.23%$4.28
0.48%$12.52
-3.99%$1.21
-9.92%$0.01697215
-2.64%$0.738889
-4.57%$0.645469
-7.52%$0.069616
-5.24%$0.350079
-4.88%$1.71
-8.57%$3,147.55
-1.91%$3,092.94
-1.97%$117,404.00
-0.37%$1.00
0.00%$1.00
0.23%$12.42
2.59%$3,100.33
-1.63%$117,362.00
-0.20%$1.11
0.03%$0.095449
-5.44%$0.940835
-9.64%$3,347.67
-0.16%$0.588279
-18.08%$0.496179
-3.59%$0.00009507
-5.60%$686.90
-0.79%$118,409.00
-0.59%$0.155089
-4.11%$3,176.13
-2.14%$0.999378
0.01%$2.48
-2.82%$0.622818
-5.13%$0.531125
-4.42%$180.11
-4.33%$3,350.87
0.03%$209.04
-4.67%$0.780431
-5.50%$0.01674346
-5.63%$0.816641
-6.94%$10.74
0.00%$0.186867
-3.64%$21.47
-5.00%$111.77
0.02%$2.61
-10.45%$0.285449
-4.40%$0.01440552
-5.36%$41.98
-2.62%$0.998064
-0.01%$0.00000068
1.59%$1.90
-5.86%$2,940.92
-1.89%$0.251599
-3.08%$0.113898
-5.66%$46.23
0.09%$0.762569
-7.91%$3,142.48
-1.93%$0.606917
-1.46%$1.094
0.20%$0.00000161
-9.39%$3.81
-7.62%$116,645.00
-0.83%$3,085.56
-2.34%$117,321.00
-0.44%$2,942.65
-1.98%$0.375627
-2.95%$0.999157
0.03%$0.0088205
-6.12%$0.30561
-3.71%$0.997703
-0.03%$3.05
6.98%$0.01626375
2.08%$117,547.00
-0.42%$0.0551
-8.01%$0.392017
-6.82%$0.537942
-4.19%$1.66
-3.60%$46.17
-0.27%$0.489718
-12.33%$1.48
-4.99%$0.522281
3.00%$0.648113
-4.46%$25.89
-4.01%$1.00
0.01%$2,943.92
-1.94%$0.197248
-3.93%$0.999893
-0.05%$0.998943
-0.06%$0.136927
-10.67%$0.094957
-1.52%$0.220956
-1.23%$3,135.25
-1.72%$0.420776
-2.57%$0.00773589
-8.08%$0.596375
-5.54%$0.999904
0.01%$0.062394
0.75%$0.00000045
-0.09%$0.00437404
-15.43%$6.15
-4.01%$7.60
-3.17%$46.05
-5.02%$15.13
-4.04%$3,242.50
-2.03%$1.11
-10.12%$0.00002091
-1.42%$0.347717
-4.88%$0.164607
-6.33%$1.094
-0.01%$2.47
-3.64%$1.30
-9.29%$6.23
-4.80%$117,651.00
-0.17%$1.003
0.87%$0.00437246
-4.02%$0.284414
-6.88%$0.99749
-0.57%$3,221.75
-1.88%$0.149775
-4.34%$0.054026
-10.67%$0.03975842
-3.60%$0.529415
-4.52%$1.54
-9.19%$2,926.51
-2.31%$0.999933
0.00%$2,943.61
-1.93%$0.03643431
-0.45%$0.01872206
2.88%$0.365694
-4.47%$2,935.56
-2.06%$117,342.00
-0.33%$1.29
3.35%$0.999897
0.00%$0.075226
-6.61%$0.348697
-7.61%$0.00665826
-9.00%$21.02
0.16%$0.00006253
-4.47%$174.59
-4.66%$0.517295
-4.21%$0.230114
-2.28%$126.90
-1.43%$11.27
-0.52%$3,555.47
-1.86%$0.725416
-8.64%$1.11
-11.57%$0.804906
-10.18%$25.27
-3.07%$0.00374385
-0.36%$0.999079
-0.02%$0.999413
0.00%$0.999277
-0.02%$0.747127
-3.23%$20.79
-3.13%$0.661979
-1.08%$0.02815831
-7.38%$1.00
0.11%$117,578.00
0.16%$0.292356
-10.03%$2,362.05
-0.32%$1.02
-0.01%$0.00335733
-11.09%$0.474526
1.36%$3,087.05
-1.77%$16.93
-1.03%$0.0041371
-10.69%Reading
DeFi governance is finding its Balance.
Balancer Labs announced today the launch of the Balancer governance protocol token BAL on the Ethereum mainnet. The distribution closely follows the mainnetmainnet release of Compound’s COMP governance token that saw its value skyrocket 500% last week.
In just one day of trading so far, BAL has more than tripled in price—from $6.65 to almost $22—in a sign of just how valuable it is for DeFi users to have a say in the development of these protocols.
BAL is live!
The 435k BAL for liquidity providers of the first three weeks of liquidity mining (145k per week) have just been sent out to the wallets used to provide liquidity on Balancer.https://t.co/pkXFzwzPVC
— Balancer Labs (@BalancerLabs) June 23, 2020
Balancer allows users to create liquidityliquidity pools where any number of predetermined Ethereum (ERC20) tokens can be deposited in fixed ratios to one another, for example 25% Maker’s DAI and 75% Brave’s BAT. When the prices change for tokens in a pool, allocations are rebalanced to the set ratios by allowing traders access to overweight tokens as liquidity.
The Balancer exchange gives users access to token swap functionality similar to Uniswap. Swap fees are distributed to liquidity providers for the pool or pools providing liquidity for a given swap. Taken together, the protocol allows liquidity providers to hold a consistent basket of tokens like an index fund while earning fees from trading, while traders get a highly liquid token exchange process with a competitive fee environment that keeps costs low.
Liquidity mining for BAL tokens started a few weeks ago on June 1 in anticipation of today’s initial distribution. Users who provide liquidity are algorithmically assigned proportional BAL rewards from a disbursement of 145,000 tokens each week. Since going live on the Ethereum mainnet, BAL token prices have increased more than 220%.
Balancer launched just months ago and has quickly become one of DeFi’s most important and fastest growing protocols. Initially limited to a handful of public liquidity pools for all but the most tech-savvy blockchain engineers, upgrades to the protocol now allow any user to create their own pools from scratch using the native Balancer Pools UI.
Balancer Labs’s so-called liquidity mining program is proving tokenized incentives can be huge drivers for growth. Metrics across the board for the new liquidity and asset management protocol spiked since the launch of the token-based incentives program. Balancer’s liquidity mining started in May with the initiative to distribute BAL, the protocol’s native governance token, to liquidity providers. The mechanism distributes tokens pro-rata based on total liquidity provided. The kicker with the in...
Balancer was also just today added to DeFiMarketCap, where DeFi protocol tokens like BAL and COMP are ranked based on the aggregate value of the total supply of their governance tokens. Unsurprisingly, Compound and Balancer have taken the top two spots after recent price spikes following their respective governance token distributions.
The surge has also helped push the total DeFi market cap over $7 billion, having passed the $2 billion mark just two weeks ago.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
Some say crime doesn’t pay—but blockchain data suggests that an attacker who exploited a flaw in a GMX’s codebase earlier this week is walking away with a $5 million bounty. “Ok, funds will be returned later,” the individual said in an on-chain message on Friday, days after they absconded with over $40 million worth of crypto from the decentralized exchange. GMX, which specializes in perpetual futures trading on Avalanche and the Ethereum layer-2 scaling network Arbitrum, was later sent $10 mill...
GMX, a cross-chain decentralized exchange specializing in perpetual futures trading, warned on Wednesday that an initial version of its platform was exploited. Roughly $40 million worth of tokens were siphoned from GMX V1, which debuted on the Ethereum layer-2 scaling network Arbitrum in 2021, to an unknown wallet, GMX said on X. In response, GMX V1 trading was disabled, alongside the minting and redeeming of GMX’s GLP token on Arbitrum and the layer-1 network Avalanche, GMX said. GMX was recent...
Vladimir Tenev, co-founder and CEO of Robinhood, has outlined the platform’s intent to list “thousands” of private companies as tokenized stocks. The statement follows controversy regarding its tokenized stocks for private firms OpenAI and SpaceX. The ChatGPT creator went so far as to publicly denounce the offering. Private companies are not publicly traded on stock exchanges. The firms typically attract investment from founders, venture capitalists, private equity firms, and also sometimes ange...
