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Balancer (V2) (Arbitrum)

TOKEN ❯
Not a Phishing Site
0 Critical Risks
4 Potential Risks
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0 Smart Contracts

Contract: 0xFE8B128bA8C78aabC59d4c64cEE7fF28e9379921
Address: 0xFE8B128bA8C78aabC59d4c64cEE7fF28e9379921
Name: Balancer
Symbol: BAL
Chain: Optimism
Token Standard: ERC-20
Mint function found
Owner can modify anyones balance
Token is active
No hidden Owner found
Owner cannot take back ownership
Token is not a known Airdrop Scam
Owner cannot set different tax rates for different addresses
Owner cannot modify the Anti-Whale limit
Contract does not have Anti-Whale mechanism
Owner cannot whitelist addresses
Owner cannot blacklist addresses
Trading cannot be paused
Contract is not a Honey Pot
Owner cannot modify tax rates
Contract does not restrict selling all tokens
Contract cannot self destruct
Code is Open source
Address: 0x4200000000000000000000000000000000000012
Address has not interacted with a Coin Mixer
Address has not been sanctioned
Address is not involved involved in Honey Pot Scams
Address is not involved in Stealing Attacks
Address is not Blacklisted
No Suspected Blackmail Activities
No Fake KYC
No Suspected Malicious Mining Activities
No Suspected Phishing Activities
No Darkweb Transactions Found
No suspected Financial Crime
No suspected Coin Laundering
No suspected Cyber Crime
Address: 0x4200000000000000000000000000000000000010
Address has not interacted with a Coin Mixer
Address has not been sanctioned
Address is not involved involved in Honey Pot Scams
Address is not involved in Stealing Attacks
Address is not Blacklisted
No Suspected Blackmail Activities
No Fake KYC
No Suspected Malicious Mining Activities
No Suspected Phishing Activities
No Darkweb Transactions Found
No suspected Financial Crime
No suspected Coin Laundering
No suspected Cyber Crime
Address: 0xba100000625a3754423978a60c9317c58a424e3D
Name: Balancer
Symbol: BAL
Chain: Ethereum
Token Standard: ERC-20
Mint function found
Token is active
No hidden Owner found
Owner cannot take back ownership
Token is not a known Airdrop Scam
Owner cannot set different tax rates for different addresses
Owner cannot modify the Anti-Whale limit
Contract does not have Anti-Whale mechanism
Owner cannot whitelist addresses
Owner cannot blacklist addresses
Trading cannot be paused
Contract is not a Honey Pot
Owner cannot modify tax rates
Contract does not restrict selling all tokens
Owner cannot modify anyones balance
Contract cannot self destruct
Code is Open source
Address: 0x24a12fa313f57af541d447c594072a992c605dcf
Address has not interacted with a Coin Mixer
Address has not been sanctioned
Address is not involved involved in Honey Pot Scams
Address is not involved in Stealing Attacks
Address is not Blacklisted
No Suspected Blackmail Activities
No Fake KYC
No Suspected Malicious Mining Activities
No Suspected Phishing Activities
No Darkweb Transactions Found
No suspected Financial Crime
No suspected Coin Laundering
No suspected Cyber Crime
Address: 0x7eF541E2a22058048904fE5744f9c7E4C57AF717
Name: Balancer
Symbol: BAL
Chain: Gnosis
Token Standard: ERC-20
Code is not Open source
This Contract is not Open Source so we cannot audit it's code
Address: 0xf6a78083ca3e2a662d6dd1703c939c8ace2e268d
Address has not interacted with a Coin Mixer
Address has not been sanctioned
Address is not involved involved in Honey Pot Scams
Address is not involved in Stealing Attacks
Address is not Blacklisted
No Suspected Blackmail Activities
No Fake KYC
No Suspected Malicious Mining Activities
No Suspected Phishing Activities
No Darkweb Transactions Found
No suspected Financial Crime
No suspected Coin Laundering
No suspected Cyber Crime
Address: 0x9a71012b13ca4d3d0cdc72a177df3ef03b0e76a3
Name: Balancer
Symbol: BAL
Chain: Polygon
Token Standard: ERC-20
Token is active
No Mint function found
No hidden Owner found
Owner cannot take back ownership
Token is not a known Airdrop Scam
Owner cannot set different tax rates for different addresses
Owner cannot modify the Anti-Whale limit
Contract does not have Anti-Whale mechanism
Owner cannot whitelist addresses
Owner cannot blacklist addresses
Trading cannot be paused
Contract is not a Honey Pot
Owner cannot modify tax rates
Contract does not restrict selling all tokens
Owner cannot modify anyones balance
Contract cannot self destruct
Code is Open source
Address: 0x63ec5767f54f6943750a70eb6117ea2d9ca77313
Address has not interacted with a Coin Mixer
Address has not been sanctioned
Address is not involved involved in Honey Pot Scams
Address is not involved in Stealing Attacks
Address is not Blacklisted
No Suspected Blackmail Activities
No Fake KYC
No Suspected Malicious Mining Activities
No Suspected Phishing Activities
No Darkweb Transactions Found
No suspected Financial Crime
No suspected Coin Laundering
No suspected Cyber Crime

What is Balancer (BAL)


Balancer is a decentralized finance (DeFi) platform that operates as an automated market maker (AMM) on the Ethereum blockchain. Launched in March 2020, Balancer raised $3 million in a seed funding round led by Placeholder and Accomplice. The platform enables users to profit from its native token, BAL, by contributing to customizable liquidity pools.


The Balancer protocol offers various types of pools, such as private pools, shared pools, and smart pools. Private pools grant the owner exclusive control, allowing them to be the sole liquidity provider and adjust parameters as desired.


Shared pools let users participate as liquidity providers (LPs) and earn Balancer Pool Tokens (BPTs) as rewards. Lastly, smart pools resemble private pools but are governed by a smart contract and reward BPTs to liquidity contributors.


If you are looking to buy Balancer token for your own portfolio, Binance, OKX, CoinW, Bitrue, and Bybit currently list BAL at its current market price.


Who are Balancer's Founders?


Balancer was founded by Fernando Martinelli and Mike McDonald, who began the project as a research program at software firm BlockScience in 2018. Martinelli, a serial entrepreneur with experience in the Maker community, has co-founded several companies prior to Balancer. McDonald, the co-founder and CTO, is the creator of mkr.tools and is also a security engineer.


What makes Balancer Unique?


What sets Balancer crypto apart from other DeFi platforms like Uniswap and Curve is its ability to create pools with multiple tokens, not just one, without requiring ETH. Balancer allows LPs to include up to eight assets per market, each weighted by a percentage and automatically rebalanced.


Users can also decide how much of a supported asset they want to deposit, instead of the standard 50% requirement on other platforms. Additionally, Balancer enables users to earn higher returns on assets with lower demand through arbitrage opportunities and reduced slippage.


In June 2020, Balancer introduced its governance token, BAL, to promote decentralization and incentivize LPs. 25 million out of the total 100 million BAL tokens created were reserved for the team, core developers, investors, and advisors.


Five million tokens were allocated to the Balancer Ecosystem Fund to encourage strategic partnerships, and another 5 million were set aside for the fundraising fund, supporting the platform's growth and future fundraising efforts. The remaining tokens will be mined by liquidity providers and distributed at a rate of 145,000 per week, taking approximately 8.6 years to complete the distribution.


Security is a top priority for Balancer, which has undergone three audits by Trail of Bits, ConsenSys, and OpenZeppelin. The platform is trustless because it has no admin keys or backdoors. Balancer pools are not upgradeable, and the platform does not support tokens that deviate from the ERC-20 standard, even if they are used in some pools.


Smart contracts govern the tokens stored in Balancer pools. The Configurable Rights Pools (CRPs) feature ensures that tokens that have known issues are not allowed to be used in pools while allowing other tokens to interact with the protocol securely and safely.


Balancer Pros and Cons

Pros:

  • Enables customizable liquidity pools with up to eight assets per market.
  • Users can decide the proportion of supported assets to deposit.
  • Offers higher returns on low-demand assets through arbitrage opportunities and reduced slippage.
  • Strong security measures, including three audits and a trustless, non-upgradeable platform.
  • Facilitates decentralized governance through the BAL token.

Cons:

  • Not open source.
  • One of the contracts can modify anyone's balance on the blockchain.
  • Mint function found.


Balancer Review


Balancer is an innovative DeFi platform that stands out in the increasingly competitive automated market maker space. Its unique features, such as customizable liquidity pools and flexible asset deposits, provide users with greater control and higher earning potential.


However, after doing a thorough review of our security analysis, we have found that its code is not open source which is a critical security risk. This is because the contract has a higher potential of it containing malicious code (since we cannot verify its contents).


Adding to that, one of its contracts also allows the owner to edit anyone's balance on the block. It goes without saying how risky this can be. We've also uncovered a mint function on one of its main contracts. This function can be used to mint tokens at will, thus increasing supply and potentially destabilizing its value. These potential risks are worth taking note of.


Is Balancer a Scam?


Given the platform's track record and team expertise, Balancer does not appear to be a scam. It has undergone multiple security audits by reputable auditors and they implement robust safety measures to protect users and their assets.


As with any investment or financial platform, however, it is crucial to conduct thorough research and consider potential risks before engaging in any investment. This is always your best bet for combatting scams and keeping your funds safe.


Related Pages


Holo (HOT) is a project you might be interested in. It's a peer-to-peer, decentralized platform that hosts applications developed using Holochain, a framework for creating DApps without relying on any blockchain technology.


You can also see our review on Yearn Finance (YFI) - an aggregator service for DeFI investors. It uses automation algorithms to allow them to maximize profits from yield farming.


Check out our other token reviews.

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