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What is Balancer coin (BAL) and how does it work?

by Financial Economy

Balancer, a software running on the Ethereum blockchain, was developed in 2018 after it was created by Fernando Martinelli and Mike McDonald. Balancer, whose token is referred to as “BAL”, is also a liquidity pool protocol. Detailed information about what is Balancer coin (BAL), how it works, how much it costs, how to buy, etc. is in the continuation of the content. You can browse here for information about CEEK coin.

What is Balancer coin (BAL) and how does it work?

Balancer is a DeFi protocol designed to provide an open, accessible alternative to centralized exchanges for trading Ethereum and ERC-20 assets. Balancer allows its users to earn income from their Ethereum-based idle holdings. Users can invest their entire portfolios in Balancer’s self-rebalancing LPs and earn income as other users trade against their portfolios. The native token of the protocol is BAL.

The protocol runs several types of pools:

  • Private pools provide the owner with management over the pool, making the person the sole liquidity contributor to the pool. In addition, all parameters can be changed by the owner.
  • Shared pools are for those who want to become liquidity providers (LPs). LPs are rewarded with Balancer Pool Tokens (BPTs).
  • Smart pools are similar to private pools but controlled by a smart contract. They also reward using BPTs and allow anyone to contribute liquidity to the pool.

How to buy Balancer coin? What is the price of BAL coin?

Balancer coin can be purchased from the listed cryptocurrency exchanges. But it is necessary to make sure that the exchange is “reliable and well-known”. As of November 30, 2021, the price of 1 BAL token is around $ 20.59 (the price can change instantly).

Caution: The information contained in this content is for informational purposes only. It is not investment advice.

For information about crypto currency: https://en.wikipedia.org/wiki/Cryptocurrency

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