Balancer Labs Partners with Key Investors in $24.25M Token Purchases to Accelerate Growth of Balancer Protocol

·3 min read

NEW YORK, NY / ACCESSWIRE / May 27, 2021 / We are thrilled to announce that we have partnered with respected investors in the cryptocurrency space who show their support of Balancer Protocol by extending $24.25M of capital to Balancer Labs. This new round of investors join the likes of Alameda Capital and Pantera Capital, among others, to purchase BAL tokens directly from the Balancer Labs treasury. Along with the $3M Balancer Labs raised in March of 2020, we have significantly increased the runway to ensure our primary mission of Balancer Protocol becoming the leading source of liquidity in DeFi is realized.

Balancer Labs has a mandate to do what is in the best interest of the Balancer Protocol. Along with our community, we believe Balancer Protocol will become the leading source of liquidity in DeFi. With this additional capital, Balancer Labs aims to increase awareness and education of the protocol in Asia Pacific, to create and grow structures for community engagement, and to continue offering support for anyone in DeFi to build on top of Balancer.

The additional backers are:

Blockchain Capital

Fintech Collective

LongHash Ventures

Fenbushi Capital

Continue Capital

Kain Warwick, Founder of Synthetix

Background on Balancer

Balancer started as a research project in early 2018 inside BlockScience. By exploring multidimensional invariant surfaces, the founding team came up with a powerful mathematical framework that enables any portfolio to continuously self-rebalance while also generating fees. A lot of effort went into carefully designing, testing and simulating Balancer Protocol.

Our Mission

Balancer Protocol aims to become the primary source of DeFi liquidity by providing the most flexible and simple platform for asset management.

Balancer allows any token holder to provide liquidity with 100% of their assets by immediately turning their whole portfolio into a Balancer pool or adding it to existing pools. Balancer allows pools with up to 8 tokens, with any custom percentage distribution of value for each of them. Anyone can now create their own self-balancing index fund, or invest in someone else's.

With the recent launch of Balancer V2, the protocol has expanded to become a launch pad for AMM innovation. Any team or project can build on Balancer's V2 vault and benefit from its aggregated liquidity and network effects.

What the New Backers Have to Say

"By allowing for the most flexible and composable liquidity pools in the AMM space, the Balancer Protocol is uniquely positioned as a core infrastructure component for decentralized finance protocols and applications. We see this aspect of the technology in Balancer as a strong long-term indicator, as protocols that are widely embedded in higher level systems are able to drive powerful network effects and defensive moats." - Aleks Larsen, Investor at Blockchain Capital.

"Balancer combines the best features of an automated market maker (AMM) with a flexible portfolio management solution - turning the index fund structure in traditional asset management on its head. We believe that the gas efficient and regulatory minded architecture of the upcoming Balancer v2 will be a game changer for DeFi." - Sean Lippel, Head of Digital Assets at FinTech Collective

"Balancer v2 marks a step change not just in novel core innovation and UIUX, it comes hand in hand with the conscious acceleration of growing a Web 3.0 community of users and developers.

We are excited to be a part of this journey especially in Asia, alongside our friends at Fenbushi Capital." - Shi Khai, CEO at LongHash Ventures

"Continue Capital is excited to become one of the backers of Balancer. We believe that digital asset management is one of the essential infrastructures in the DeFi space. Balancer is paving the way for the next generation open financial world."- Xiahong Lin, Founding Partner at Continue Capital

"Balancer is one of the most important lego blocks in DeFi with a team dedicated to liquidity and trading performance. We're thrilled to support such a committed and switched on group"- Jordan from Synthetix


Dan Edelstein

SOURCE: Balancer

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