Latest Posts with Balancer (BAL) tag

Balancer (BAL)

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Balancer is a market maker protocol that allows its users to contribute liquidity to various assets and consequently earn a portion of the generated trading fees. Fees are collected from traders and portfolios are continually rebalanced through arbitrage opportunities. 

Founded in 2018 by Balancer Labs, the platform itself was officially launched in March 2020. It distinguishes itself from other automated market makers by considering various assets and weightage. The fees that can be earned from executed trades can be customized for each liquidity pool. Furthermore, it removes the middlemen that are portfolio managers - using traders’ fees and arbitrage opportunities to rebalance the portfolio instead. 

The project’s whitepaper, published in September 2019, offers a detailed explanation of the design of the liquidity and trading formulae that underpin the network’s economics. A succinct, high-level explanation of the network’s features can be summed up as follows: the protocol offers various types of liquidity pools with varying levels of permissions. Private pools are controlled by the pool creator, who may determine its parameters at will, while shared pools’ parameters are permanently fixed with the creator holding no special privileges. Smart pools are controlled by smart contracts and allows for a range of logical conditions and restrictions.

The project launched on the mainnet in late March 2020 alongside exchange and pool management dapps, among other launches. The BAL token itself was launched in June 2020, with 435,000 tokens set aside for distribution to liquidity providers, which will be handed out over the course of 3 weeks. The development team has stressed that the protocol is new and subject to change and development, both for refinement and security purposes. 

Learn more about Balancer (BAL) here, including news, price predictions, opinions and analyses created by users.


DeFi Balancer Was Hacked Twice Within 24 Hours

2 Jul 2020 2 minute read 2 comments Dapp.com

It seems that every time when DeFi is booming, the hackers will come. The last time is Lendf.Me which lost $24.95 million Lendf.Me Hacked & Refunded, this time is Balancer which was hacked twice within 24 hours and lost around $502,300. We always sa...

DeFi fail: Balancer will reimburse its victim users

2 Jul 2020 1 minute read 0 comments NassiroV

Image Source This weekend, an attacker managed to drain $ 500,000 in ethers from the Balancer protocol. A few days after the attack, the project team announced that it would reimburse all of the victim users. Swing takes responsibility I talked tell...

bZx Offers Details on BZRX Governance Token Model

2 Jul 2020 1 minute read 0 comments Abhimanyu Krishnan

The bZx team has unveiled the details on the new economic model of its BZRX governance token, in a blog post published on June 28.  Saying that the token had involved from its early vision as both a governance token and medium of exchange to strictl...

Bad news for DeFi: Balancer loses $ 500,000 following a hack

30 Jun 2020 2 minute read 0 comments NassiroV

Image Source The DeFi ecosystem has never been better than last week. The craze was mainly generated by the launch of the COMP and BAL governance tokens . Unfortunately, a hack from Balancer came to tarnish the weekend! $ 500,000 in losses Reports o...

Oups, i did it again! Third and fourth hack on Balancer pools

30 Jun 2020 3 minute read 1 comment Heruvim78

Yesterday, June 29th, two of the multi-token pools on DeFi platform Balancer were drained of ~$450,000. The attacker conducted the attack in two separate flashloan transactions by draining one liquidity pool until close to zero. The firm’s co-founder...

Hacker Siphons $500k from Balancer

30 Jun 2020 1 minute read 2 comments Abhimanyu Krishnan

In a blog post published on June 29, Balancer Labs has revealed that a hacker has exploited a loophole in the code of the Balancer (BAL) protocol, siphoning $500,000 from 2 pools with deflationary tokens. Only these two pools, which contain the STA a...

FTX at the time of DeFi: After COMP, buy BAL

30 Jun 2020 1 minute read 0 comments NassiroV

Image Source The DeFi movement has been at the center of attention for the past few months. Balancer (BAL) has just been newly listed on the FTX platform, a few days after the COMP token. A price variation worthy of the ICO era FTX founder and CEO S...

A Hacker Just Stole $500,000 of BTC and ETH from Balancer!

30 Jun 2020 1 minute read 2 comments FarewelltoMinds

Knowledge pays. Take a look at the latest hack of Balancer, a defi exchange which bases itself on user created exchange pools. The hacker used a loan of some $23 million in ETH (wait, who the fuck loans that much ETH and how and why? I’ve got a hundr...

Balancer attacked and hacked of more than $450,000

29 Jun 2020 2 minute read 1 comment Heruvim78

Today, June 29th, two of the multi-token pools on DeFi platform Balancer were drained of ~$450,000. The attacker conducted the attack in two separate flashloan transactions by draining one liquidity pool until close to zero. The firm’s co-founder and...

Automated Market Makers - What Are They And How They Differ?

29 Jun 2020 9 minute read 3 comments D3F1

In this piece, I will be comparing some of the hottest projects in DeFi space. This one, you won’t want to miss.  But first, before we dive in, what exactly is DeFi and why should you pay attention to it? DeFi, the acronym for (‘Decentralized Finance...