What is Balancer?
Balancer is an automated market maker (AMM) running on Ethereum. It functions as a self-rebalancing weighted portfolio, price sensor, liquidity provider, and decentralized exchange. By forming or adding to customizable liquidity pools, users earn fees generated from other traders' activities. Balancer Lab was founded by Fernando Martinelli and Mike McDonald in 2018. The company was launched in 2019 and raised $3 M in its seed round. Balancer has its in-built governance token BAL, the distribution of which commenced on June 1, 2020. Employing the token, owners vote on suggestions concerning the ecosystem's growth. So, similar to the majority of DeFi networks, Balancer is a decentralized autonomous organization (DAO). Users can acquire BAL tokens by depositing ERC20 units in one of the many pools and thus adding liquidity. As a return, they will get BAL and fixed fees. This technique is known as BAL Liquidity Mining. For more interested traders, it can become yield farming. Another way to get the token is purchasing it on various platforms, such as Binance, Coinbase, Kraken, etc.