Crypto Elite Club
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Crypto Elite Club

Balancer (BAL) update

Since the launch last year, the Balancer project has proven its mettle. (in case you have missed our first review on BAL back in July 2020, read it here first) It has been running smoothly and its idea of solving the liquidity crisis has resonated well with the investors. The project has also been promptly delivering on its promises and has already launched a line of products that are well received by traders and even other innovative projects operating in the DeFi market.

As of January 2021, Balancer boasts of having $921.4 million of Total Value Locked, a $9.5 billion of Cumulative volume, $35.9 million of cumulative Swap Fees, and having hosted over 1,340 pools with the Balancer family growing to 24,833 token holders. That’s quite impressive.

Moreover, there are innovative projects which have already adopted the Balancer protocol. One such example is “Yearn with YFI, leveraging Balancer’s 98% DAI and 2% YFI pools to enable LPs to add liquidity and earn YFI.” Also, another promising project PieDAO, which claims to be the first to build a smart pool, currently uses Balancer to create index funds.

As a community-driven project, Balancer is also focused on seeking the valuable participation of its community members while pushing forward to achieving its goal of becoming the building block of DeFi projects. In a recent update, the team has confirmed that they are already working on exciting upgrades and the users can expect details in the coming weeks.

You might be wondering if Balancer is still a great investment project? If you have been following the traditional market lately, you have seen the power of the WallstreetBets Redditors, and the reaction of what Robin Hood was doing with their centralized platform. Think about it for a second again… and now you might come to the conclusion of the power of decentralization. Now you understand how important decentralization is going to be.

And by the way, now you’re here: If you are looking for crypto trading signals with high-value projects, make sure you visit our website and register now!

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Crypto Elite Club — Blockchain research investment and trading

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Max Neuhaus

Max Neuhaus

Crypto investor and trader :: Follow me for info

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