$85,154.00
-2.64%$1,910.96
-5.95%$2.23
-6.10%$631.11
-0.99%$130.99
-5.28%$0.999792
-0.01%$0.181519
-8.00%$0.699563
-5.48%$0.230721
-1.25%$1,909.55
-6.01%$85,159.00
-2.48%$4.00
3.05%$14.31
-8.50%$9.80
0.58%$20.49
-7.29%$0.274981
-5.61%$2,288.68
-6.13%$2.57
-6.96%$0.999871
0.02%$0.0000132
-8.26%$0.183607
-4.83%$88.34
-6.74%$4.29
-7.41%$6.42
-2.70%$311.36
-6.79%$4.80
-5.32%$0.828457
0.22%$1,911.70
-5.95%$0.999081
0.00%$0.999366
-0.04%$13.59
-7.19%$2,031.77
-5.94%$28.86
-1.04%$218.22
-2.64%$6.36
-6.77%$5.53
-7.21%$2.79
-7.52%$0.00000789
-8.17%$1.045
0.04%$36.85
2.17%$48.97
-2.24%$0.10613
4.66%$22.94
-2.90%$0.835282
-1.10%$85,177.00
-2.68%$5.67
-6.82%$0.858635
-6.78%$175.86
-5.19%$17.25
-5.15%$1.002
0.23%$1.16
-0.07%$254.46
-4.66%$10.48
-8.23%$0.02440321
-7.31%$3.63
-2.59%$0.390607
-9.71%$4.57
-5.84%$1.00
0.00%$3.72
-6.24%$2.87
-5.64%$0.071212
-7.13%$0.213807
-9.28%$85,096.00
-3.18%$0.566015
-8.51%$4.02
-0.05%$0.201041
-4.83%$0.357143
-7.31%$0.509232
-6.74%$5.33
-6.98%$11.20
-1.30%$0.844715
-7.32%$0.512175
-7.06%$85,197.00
-2.18%$1,423.70
-1.04%$1,986.49
-6.03%$1,911.43
-5.82%$0.472392
-4.76%$1.11
-4.93%$0.070574
-0.19%$136.45
-5.41%$0.873419
-9.15%$0.587463
-9.34%$72.30
-5.33%$18.14
2.16%$0.67343
-9.60%$0.00001257
-9.11%$0.195823
-7.09%$0.999045
-0.10%$2,163.86
-5.93%$9.50
-8.69%$0.09683
-9.25%$0.997603
-0.02%$0.914535
-8.13%$8.24
0.94%$1.00
-0.01%$0.579558
0.89%$0.950269
-9.81%$0.01381659
-5.47%$84,900.00
-2.22%$0.99964
-0.01%$0.999403
-0.05%$3,081.09
0.98%$631.10
-0.82%$2,027.13
-6.15%$0.999703
0.03%$0.01692656
-8.41%$0.687663
-5.82%$2.27
-4.10%$0.533973
-8.14%$0.284287
-8.54%$0.187209
-4.96%$84,963.00
-2.61%$0.00000069
-3.39%$3,083.41
1.00%$33.43
-5.69%$167.80
-5.26%$2.15
-13.13%$0.107786
-2.43%$0.399981
-5.60%$0.999599
-0.11%$0.0000645
-9.39%$8.30
1.17%$0.47378
20.74%$1,989.66
-5.87%$3.20
-2.68%$35.95
-6.29%$0.156376
-7.90%$0.011635
-9.93%$16.90
-6.73%$143.26
-5.38%$1.88
-6.12%$0.00089989
-17.92%$0.693442
-6.71%$0.999611
0.00%$0.075256
1.42%$0.551776
-9.27%$0.00553923
-9.69%$3.17
-6.70%$0.999882
0.05%$0.267689
-4.86%$0.998763
-0.02%$0.494204
-15.83%$0.483585
-10.65%$6.85
-9.76%$17.18
-9.98%$0.44356
-6.13%$82,803.00
-3.93%$1.00
0.06%$0.181383
-7.67%$7.09
-4.51%$0.743382
-5.04%$2,028.32
-6.02%$1.65
7.94%$1,910.70
-5.94%$0.162381
-7.92%$2.75
-6.68%$0.0084032
-14.29%$26.85
4.34%$0.67487
-9.88%$85,119.00
-2.76%$0.086267
-8.55%$0.00000043
-1.10%$0.04417263
-7.16%$83,797.00
-4.95%$1.18
-7.71%$1,910.87
-5.95%$1,911.54
-5.96%$0.0064998
-5.85%$0.00002059
-8.85%$0.502246
-3.08%$1.082
0.06%$0.407406
-7.61%$1.00
-0.12%$0.503436
-9.96%$0.00713791
-10.89%$110.47
0.01%$1,993.48
-5.97%$1.082
-1.28%$0.40351
-5.64%$0.213667
-9.38%$85,066.00
-2.51%$0.903056
-4.90%$42.04
-6.58%$0.178604
-0.17%$0.999023
0.00%$1,943.62
-3.71%$0.0000017
-0.33%$84,605.00
-2.60%$0.999382
-0.05%$1,907.18
-6.22%$0.00006229
-6.28%$1.43
-6.15%$0.03402367
-9.55%$0.0039974
-4.96%$0.99977
-0.14%$3.00
-3.20%$0.01002775
-7.82%$1.004
-0.11%$124.33
-4.78%$0.577275
12.06%$1.29
-7.08%$0.256383
-8.10%$0.267674
-5.87%$0.03086338
-1.84%$1,893.44
-6.00%$3.80
-5.83%$0.682956
-3.90%$1,912.43
-5.93%$0.848045
-7.60%$23.11
-4.92%$2.94
-1.10%$1.33
3.25%$0.201463
-6.06%$17.04
-7.21%$84,172.00
-4.45%$85,050.00
-2.65%$1.12
-12.95%$0.270707
-5.32%$2,091.20
-5.97%$2,016.57
-6.10%$0.092297
-11.23%$0.071819
-8.31%$0.03831212
-3.97%$0.03313344
-4.89%$0.115109
-4.79%$0.00251993
-7.10%$3,066.72
0.86%$1.041
-11.25%$0.00339652
-9.98%$0.505577
-3.94%$0.345661
-14.58%$2,073.64
-5.90%$0.552637
-8.08%$0.999737
-0.05%$0.00532689
-5.28%$1,928.21
-5.17%$0.118444
-3.96%$0.03163178
-6.67%$1,709.73
-2.68%$0.01193984
-6.80%$0.693643
-6.78%$0.00255291
-15.94%$0.545072
3.23%$0.585699
-5.43%$20.30
-2.41%$0.260827
-6.17%$0.224394
-7.48%$2.19
8.27%Reading
DeFi governance is finding its Balance.
Balancer Labs announced today the launch of the Balancer governance protocol tokentoken BAL on the EthereumEthereum 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.
Decentralized exchange Hyperliquid delisted perpetual futures for the Solana-based meme coin JELLYJELLY on Wednesday, describing the move as critical to ensuring its network’s integrity amid a looming liquidation crisis. Hyperliquid uses its own high-speed blockchain, built upon the Ethereum layer-2 network Arbitrum, and the project said its networks’ validators had convened to take “decisive action,” in a post on X (formerly Twitter). The decision came after a Hyperliquid user opened a $6 milli...
Solana decentralized exchange Raydium says it’s going live in the next week with its “flexible” token launchpad, which will address what have become user pain points on its soon-to-be competitor Pump.fun. The new platform, LaunchLab, will allow users to adjust a token’s bonding curve and tokenomics, while still offering a user-friendly cookie cutter option. Previously, Raydium had simply operated as an automated market maker and decentralized exchange on Solana; while Pump.fun rapidly grew to be...
Raydium's native token, Ray, rose sharply on Monday, driven by the decentralized exchange's "deep liquidity," even as it faces stiff competition from the recently launched rival PumpSwap, according to one core contributor. As the 133rd largest crypto by market capitalization, Ray is trading at about $1.95, according to crypto data provider CoinGecko. It is up 25% over the past 14 days, recovering ground lost earlier this year as Pump.fun grew more popular. Ray had dropped 7.6% over a five-minut...
