Balancer Price for today is $14.7. Its current circulating supply is BAL 35,725,000 with a market cap of $102,073,784.30.
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Balancer is an Ethereum-based blockchain project for automatic market-making. In traditional finance, a market maker buys and sells financial instruments and profits by adding a margin on each transaction. Balancer uses algorithms for this role, and since it uses Ethereum, the algorithm can create a decentralized market. The protocol supports up to 8 assets, which allows it to create liquidity for multiple assets simultaneously.
The main benefit of the decentralized markets is that Balancer creates low slippage and better prices for end-users compared to centralized market makers. In terms of governance, Balancer uses a native token called BAL. Unlike most cryptos that people buy as speculative assets, BAL is not an investment. It is a governance tool that is mainly held by those who believe in the project's future.
However, those who provide liquidity to the ecosystem get to earn Balancer tokens that are distributed weekly. One can then change the token to any other on a Balancer exchange like ChangeNOW, where you can perform BAL exchange at competitive rates.
One of the critical elements of the DeFi project is that it supports 8 assets, including Ethereum and ERC20 projects. Its multi-asset support gives pools the leeway to profit from providing liquidity for different assets simultaneously.
Another essential feature is that it does not take data from external oracles. Prices are determined by the trades taking place within the network. The same for the trading fees, which are left at the discretion of the various pools.
It is also important to note that the Balancer network allows players to use pools for both trading and liquidity provision. When used for trading, users get to exchange tokens at competitive fees. On the other hand, when used for liquidity provision, users provide assets into a pool and earn a fee for it. One gets to earn tokens that they can change to any other crypto using the ChangeNOW Balancer converter in both ways.
Sometimes you need a way to exchange Balancer to other coins, or cash. The transaction can be for trading, or to get money for whatever reason. To convert BAL, you need a service that is fast, easy to use and has low fees. Try using ChangeNOW.io as your personal BAL converter as it offers all of that, and you can exchange BAL without registration and with no upper limit.