The Balancer Report
Unveiling Ecosystem Updates, Key Metrics, Governance Proposals, and More!
Embark on a journey through the latest developments in the Balancer ecosystem as we delve into essential data such as Total Value Locked (TVL), Swap Fees, and Volume. Discover the pulse of governance with insights into proposals shaping the future. Join us as we unpack the week’s highlights and insights!
Now let’s explore the latest ecosystem news:
The new Balancer Zen UI introduces advanced features such as chain-agnostic functionality, allowing users to trade without switching chains. It supports both v2 and v3 versions, integrates with Aura Finance for staking BPTs, and includes partner AMMs like GyroStable, enabling seamless deposits into their E-CLPs.
Aura Finance highlights a key feature in the upcoming Balancer V3, “The Vault,” which was first introduced in V2 to separate AMM logic from token management. V3 centralizes pool logic into The Vault, making it more consistent and user-friendly for developers. New features include decimal and rate scaling, liquidity invariant approximation, transient accounting, ERC20MultiToken support, native querying, swap fee management, and pool creator fees.
The team at Beefy invites users to earn new $ARB rewards in collaboration with Balancer. By pre-staking, users can get ready to receive these additional rewards. One featured opportunity is the WSTETH-ETH pool, which can be accessed via the Beefy app.
Balancer, in collaboration with Tokemak, is developing a proof of concept (POC) for a Liquid Staking ETH Autopool (balETH). This Autopool, powered by Tokemak’s Autopilot, automates the process of liquidity rebalancing, addressing challenges such as complex pool selection, yield fluctuations, and high switching costs. Users can deposit ETH and receive balETH tokens, which represent their share in the liquidity pool. The Autopilot system monitors the market, optimally rebalances liquidity, and auto-compounds rewards, ensuring efficient asset allocation. This POC aims to enhance the Balancer ecosystem by providing a seamless, yield-optimized experience for liquidity providers, making it easier to participate in the market without the need for constant manual adjustments.
The Kelp DAO team highlights the $rsETH pools on Balancer across Ethereum, Arbitrum, and Optimism networks, each offering unique rewards and incentives. On Ethereum’s mainnet, the $rsETH <> $wETH pool offers 3x Kelp Miles, EigenLayer Points, and $10,000 in monthly incentives. The Arbitrum pool provides 2x Kelp Miles, EigenLayer Points, and over 4000 $ARB rewards with low gas fees. On Optimism, the $wrsETH <> $WETH pool boasts over $2M in TVL, offering 2x Kelp Miles, EigenLayer Points, and more than 4000 $OP per week. Additional rewards can be gained by depositing LP tokens on Aura Finance.
Automated Market Makers (AMMs) have significantly impacted financial markets, facilitating over $1.256 trillion in transactions in the past year. While their influence is growing rapidly, understanding what AMMs are and how they function is essential for grasping their role in the evolving financial landscape.
Embrace the excitement of SuperFest, hosted by Optimism, and explore three newly launched, supercharged pools on Mode and Fraxtal, featuring Balancer’s innovative offerings. SuperFest, running from early July to late August, celebrates the Superchain network by inviting users to engage with various decentralized applications (Dapps) across key Layer 2 (L2) networks including OP Mainnet, Base, Mode, and Fraxtal.
The Optimism Collective has allocated 1.5 million $OP tokens as incentives for participants, which can be claimed based on engagement. Additionally, users who claim rewards have the chance to mint exclusive Superchain wristband NFTs. Balancer is prominently featured in this event, distributing approximately 45,000 $OP to pools on Fraxtal and Mode, and providing access to Jumper XP.
To participate, users should bridge and connect assets using the Jumper Dashboard, engage with Balancer’s missions on Jumper’s SuperFest page, and claim rewards and NFTs from the SuperFest page. This event offers a unique opportunity to earn significant rewards and engage with the expanding Superchain ecosystem.
As is always the case, HiddenHand incentives can be explored here, the current round ends on July 31, 2024. And to date it has the following details:
- Total Votes: 4,841,414
- Total Rewards: USD 51,549.69
- Emission $/10k Votes: USD 529.4449
- Incentive $/ 10k Votes: USD 106.4765
Balancer: TVL and Stats — Defilytica
Balancer’s Total TVL across all networks is sitting at $915,92m.
The Total Mainnet TVL is $695,09m with a dominance of 75,89%.
Speaking of protocol volume metrics, in this last week we were able to see a cumulative volume of $458,08m.
As for protocol fee metrics, we can verify cumulative fees of $158,69k.
As for our liquid wrappers, they are under the following parity to veBAL:
This section will list the top three expected pools to receive most of the next period’s emissions. Voting is open for four more days, and the next period is scheduled to start on Thursday at 00:00 am UTC.
- Mainnet — WETH / rETH — currently at 13.56%.
- Mainnet — pxETH / WETH — currently at 4.72%
- Base — GOLD / WETH / USDC — currently at 4.26%.
This week there is just 1 active proposal on Snapshot:
Balancer OpCo Limited is looking to collaborate with a professional market maker to enhance liquidity and trading for BAL tokens on central exchanges. This initiative is designed to improve market depth, reduce slippage, and stabilize prices, addressing recent concerns about volatility highlighted by Binance. The proposed engagement involves lending up to 1,000,000 BAL tokens, negotiating call options, and structuring the loan with flexible terms. Additionally, Balancer OpCo aims to explore further exchange listings to increase global participation. The process will be managed with the involvement of Balancer DAO contributors and Karpatkey, and progress will be regularly updated.
This week Dubstard shares another set of security tips that will help you stay safe:
- Do not open any links sent to you in DMs from any one pretending to be a “mod”, “admin” “staff member” and etc.
- Do not message anybody offering help if you DMs them first, those are scammers.
- Remember, Balancer operates primarily under the following domain: https://balancer.fi/
- Never share private keys, seed phases with anyone.
- Remember, there is NO AIRDROP!
- There is no such thing as “Node RPC fix”, “Encrypt Wallet”, “Node Sync”, “Wallet Synchronization”, “Rectification”, “Remediation”, “Fee Reduction”, “NFT sync”, “Synchronize wallet” and so on. All those are fake sites and imaginary “tech” sounding reasons to bait users to visit the bogus sites.
- Avoid using your main wallet for participating in airdrops, especially if they are promising very high awards. Do not sign BPT (Balancer Pool Token) approvals willy-nilly. Sign only if you know what you are doing. Do not sign approval, transfer and permit transactions willy-nilly. Always double check everything.
Balancer has a flourishing ecosystem. You’re welcome to contribute to it whether you’re a dev, a community person, or a graphic designer! We strive toward onboarding every new member in a smooth and personalized way.
Join the Ballers and start your Balancer journey now: http://discord.balancer.fi/
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This article is for informational and educational purposes only. It should not be construed as investment or trading advice or a solicitation or recommendation to buy, sell, or hold any digital assets. Transactions on the blockchain are speculative. Carefully consider and accept all risks before taking action.
