Liquidity providers deposit funds into Balancer and receive trading fees from traders (supply-side fees).

Balancer is a non-custodial exchange protocol built on Ethereum. Balancer was founded by Fernando Martinelli and launched in 2018.

BAL tokenholders own and govern the protocol. They currently take a cut of the total trading fees paid by traders (revenue). Balancer's investors include DeFiance Capital, Three Arrows Capital, Alameda Research, etc.

Competitive landscape

Daily market cap (fully diluted) for Balancer in the past 180 days.