What is the balance protocol?Everything you need to know (2023)

Balancer is one of the most popular automated market manufacturers (AMMS) and decentralized stock exchanges on the Ethereum.It enables users to change the tokens immediately and win the rates if they deliver liquidity for different pools.

Balance, it competes with other platforms, for example based on ERC20Uniswapand sushiswap.You have your advantages and disadvantages.

The following aims to answer questions about balance, to check important functions, customer support, security guarantees, etc.

The balance protocol

With the use of liquidity pools, this AMM platform users enables the ERC-20 assets to be replaced without a centralized unit or authority.Equality users can also receive part of the trade rates if they deliver liquidity.

In order to increase liquidity in the balance protocol, the platform offers users various incentives.What distinguishes them from some of the great weapons in the AMM protocol area is that they offer users enough flexibility to create their private liquidity pools.

Users can create pools with two or more cryptographic activists of their choice.As well as other remarkable automated market creators refer to his negotiations on all liquidity pools required to ensure the best prices for users.

The three demographic main data of balancion include dealers, investors, intelligent contracts, liquidity providers and referees (they use different price spreads between platforms.)

Professionals:

• Fully decentralized and without permission
• Liquidity pools are open to everyone
• Adaptable amms

Contras:

• Limited to ERC 20 tokens
• There is no mobile app available
• High gas rates
• It is not suitable for beginners
• Dex did not regulate

What is balancion?

Balance is an exchange based on decentralized Ethereum and one of the leading automated market manufacturers (AMMS) in the cryptocurrency world.It is carried out at Ethereum Mainnet and enables users to benefit from various functions to create Defi products.

It was launched in 2019 by the founders of Balance Labs-Mike McDonald and Fernando Martinelli. Beiide co-founders are experienced employees in the encryption industry and worked together on other blockchains and defi projects.

The balance sheet development began in 2018 with its bronze publication.The rest of the three phases were released in 2020.The bronze was published in March 2020, with a balance sheet collecting 3 million US dollars.

In recent years of the balancion start, around 100 million Bal -token (balancion utility tokens) have been pureed.The protocol published 75% of them to miners and distributed 25% among his developers and shareholders.the public.

Balancer products and resources

Balances exchange

Users can negotiate with balancers at large prices.Protocol promotes efficient negotiations through the crowdsourcing liquidity reduction of investor portfolio while using your intelligent orders to find the best prices for dealers.

Users can replace any combination of ERC 20 tokens in the balance and receive access to intelligent prices, SME protection and gas/optimizations/optimizations.

The commercial application

In order to use the commercial use of protocol, to buy and sell or save cryptocurrencies, users only have to create oneSelf -Confidence letter bag.

Oto prefecture

The liquidity or negotiation Supply in balance protocol results in the users of BAL TOKEN.

Bal -token are claimed andused for participationIn Balance Governance Protocols.In this case, liquidity providers receive voting rights, depending on the percentage of the tokens that they have or take part in the pool.

Balancer Pools

Balance Pools carries out intelligent contracts and retains the value of liquidity.

This keeps the value of each tokens proportionally to the value of liquidity in the entire pool.Pool owners receive business rates that take place in the pool.The protocol offers two main types of pools:

• Public pools: These pools enable everyone to deliver the balance by adding digital assets.The creators can define the parameters of public pools before the start, and these parameters cannot be changed by them themselves.Public pools are of crucial importance for small investors who prefer to earn fees for their participation.
• Private pools: Only the creator can add or remove a asset here.The creator can also adapt the pool parameters, including weighting, acceptable active and tariffs.Private pools are ideal for active managers with large portfolios and prefer to gain the interest in specific digitally.

With an open balance design, everyone can create their type of pool by selecting between different functions and flexible price options.

Below you will find some examples of the many pool options for different token combinations.

• Stabile Pools: Stable pools are suitable for soft PGADO tokens with a high correlation coefficient such as Dai/USDC/USDT.
• Weighted pools: Weighted pools are designed for broad use, including some tokens that have no price connection like Dai/Weth.
• Meta -stabile Pools: They are designed in such a way that they support non -linked tokens that protect the correlation.However, token can differ over time, and a good example is a derivative.
• Managed pools: They are created to offer maximum and solid flexibility that are required for the administration of dynamic funds.
• Liquidity boots: These pools are useful to change the liquidity of one token in another.

The safe box

The safe is the central part of balancer.It is an intelligent contract that controls and stores all tokens on every balancer pool.In addition to an important part of the ecosystem, the safe serves as a gateway, through which users carry out the most processes such as transitions, swaps and outputs.

Tokens management and accounting are separated from pooling in the safe.Equality contracts become easier because they not only actively manage and only have to calculate outputs, swaps and intersection.

Smart Order Router (SOR)

Balanced smart order router helps your dealers to find the best price as possible.He identifies the best negotiations for a certain series of output token and the input when it comes to a direct exchange in a pool or a mixture of transactions on several pools.

The intelligent order router increases with the expansion of the diversity of the balancing pools and continues to grow because additional types of pool are introduced with different mathematics.This means that balancer -ecosystem pools can carry out negotiations.

By integrating and connecting to the Smart Order router, every custom branch can use the balanced liquidity resources.

Balancer Gnosh Partnership (BGP)

In the app.balancer.fi, the GNOSH partnership balance is the standard negotiation interface.Understanding of GNOSIS solutions and confreshyans to carry out Batch companies.Dealers can send swaps with GNOSIS solutions by signing a message that starts a gas without gas.

In order to keep dealers secure for the extractable value of mining workers or SMEs, solutions correspond to transactions using the chain liquidity, which makes it easier to use the chance of wishes.BGP uses several dexes to ensure that retailers always receive the best prices.

The solid integration of BGP into the balance of the Balance Vault enables him to carry out complex multi-hop agreements with minimal token transfers and at the same time reduce the transaction costs.

How to open a balancer account

The introduction to balance is uncomplicated.The UX platform offers access and seamless navigation and offers useful and well -placed tools for negotiating, investing and removing tokens.

Dealers and portfolio managers can use the unique balancers' unique products and functions to invest or develop the platform in order to create new innovative decentralized financial application types (DAPPS).

In the upper left corner ofBalance of balanceUsers can find options to use the APSSPS apps, the commercial application or the compilation option.

Compensation rates and commissions

Each pool receives a different fee in the balance sheet.In addition, the number of fees can depend on the selection of a pool developer, and some fees can vary between 0.0001% and 10%.We will find out some applicable interest rates that are applicable to the equilibrium protocol.

Credit cost fees

Trade rates are a share of each transaction that encryption dealers pay the pool LPS and determine pool developers.Central stock exchanges receive a buyer quota and the manufacturer's manufacturer.

Buyers are users who remove the liquidity from the order book if they already accept orders.Manufacturers are users who receive these orders.

An alternative, if you calculate separate customers and manufacturer fees, the same fees for the manufacturer and Borrower.com are decentralized stock exchanges such as the remaining amount, there are no trading rates available.User.

Networks

The network prices are paid to certain blockchain mountain people or encryption and are not paid.Stock exchange fees are not paid.The networks are not defined.They vary occasionally.Because the numbers depend on the network print at any time.

Supported devices

Balancer has no mobile app on Android or iOS.However, users can use a cell phone or desktop to run the Exchange in their web app.

Customer service

Users can speak with the balance between customer support.This is a function that distinguishes it from many "decentralized" competitors.

In addition to the live chat functions on the website, users can also send an e -mail to contact@balancer.finance or reach LinkedIn or Twitter.

Supported cryptocurrencies

Balance do not support tokens that do not correspond to the ERC 20 standard, even if they are used in certain pools.

The platform also does not control the tokens held in the balance sheet pools.They are intelligent contracts.To ensure that known errors are not used in pools, configurable rights pools or CPRS are set.

The native boring token is also listed in some encryption exchanges and trading platforms for safe transactions.These platforms include coinbase, binance, octopus, crypto.com and Bithumb.

Security

The Balance Protocol does not have administrator keys or backtoors, which means that it is a little reliable that users cannot update balance pools.

• The balance is completely checked: Balance Learning with Bits, Certora and Openzzenppelin.
• Insect reward program: In the publication of the V2 from its main amounts, the remaining amount leads a continuous program of insect bonuses in protocol via Ethereum's main network.

As we have already mentioned, balancion is not allowed, so that there is always the possibility that defects or malignant tokens are introduced at the level of the contract.

• The balancion continues to assess and check the protocol continuously.
• He added the black list of the user interface transmission rate.
• Balance also added additional documentation to the dangers that are connected to the way pools work, and how people who build people can empty funds from a pool.

There balances pool hack

In January 2021,A permitted problemAn attacker who steals money from two pools with token with many transfer rates. This problem, despite the frequent caution, occurred to reconcile unforeseen consequences of the ERC-20 with transmission rates in discord, documents and other channels.

The balance is built for tokens that are compatible with ERC-20.If these tokens act rarely and unexpectedly, it will always have negative consequences.After completing this event, the balancion reimbursed liquidity providers who have lost money.

Diploma

Balancer is a comfortable protocol for encryption investors who want to exchange digital assets at affordable prices, or have idle portfolios that want to use.

Private liquidity pools on the platform are highlighted functions that portfolio managers and large investors may find useful.Pools with various touches offer access to a solid crypt index that can be reclined automatically.