The Balancer Report
Every week we share the latest ecosystem news and cover the most important governance developments. Let's dive in!
Balancer: TVL and Stats - DefiLlama
Balancer's TVL is $1.18bn. Distributed in the following manner:
The Total Mainnet TVL is $1.02bn and there is a decrease of about 0.97% compared to the $1.03bn of the previous week. Being located in the eleventh position according to TVL.
The Polygon TVL is at $70.81mm, in which a decrease of 16.29% is verified with respect to the $84.59mm of the previous week. Being in the fourth position according to TVL.
Arbitrum TVL is at $80.97mm, registering an increase of 4.49% compared to the $77.49mm of the last week.
The Gnosis TVL is at $6.31mm, that is, a 8,42% increase compared to the $5.82mm of the previous week.
And finally, Balancer on Optimism by Beethoven X sits at $45.45mm TVL.
As for our liquid wrappers, they are under the following parity to veBAL:
Balancer Grants share the latest monthly update, here’s a quick recap.
Finalized Grants:
Last month saw Nicolas M finalizing a backup UI for Balancer that can be explored here. You can also access the project’s source code on Github.
The UI will serve as an alternative to the main UI in case the latter ever goes down. It also has a simplified design which streamlines protocol interactions.
Current Grantees:
A large number of current grantees continue working on their projects, the list includes protocols such as GammaSwap, Kassandra Finance and Xave Finance and valued ecosystem contributors such as Cosme Fulanito and Tritium.
The number of new applications reached 19 with 3 new projects being funded for a total of ~5,122 BAL.
Balancer’s twitter account takes a deep dive into how the power of 80/20 helped Radiant Capital generate significant swap fees and pool incentives in under a month.
Radiant went the 80/20 route for their governance position. 80/20’s liquidity benefits combined with the flexibility of the ve model allow users to “create the LP on Balancer and then lock directly on Radiant.” This also means that Radiant does not need to find additional liquidity incentives which further improves the process.
You can check the full thread linked above and follow Radiant here.
Balancer maxi Danko shares a thread covering the latest developments in the Balancer ecosystem, namely the recent L2 deployments, the 80/20 Launchpad, the latest Grants updates and more!
0xSkly releases the second part of A Composable Symphony, this time focusing on Composable Stable Pool contracts.
The article is highly detailed and it examines various functions and contract interaction possibilities. It’s a great way to learn more about the technical side of Balancer.
Balancer’s adoption of Liquid Staked Tokens allowed the protocol to harness the benefits of the ever-growing LST narrative.
The latest thread explores how Balancer could become the go-to place for Liquid Staked Tokens.
Balancer’s Liquid Staked liquidity flywheel is the cornerstone of the approach as it utilizes Hiddenhand voting and pairs it with the concept of Core Pools. This means that the following applies to all yield-bearing core pools:50% of the underlying incentive is taken as a protocol fee.
35% of this fee flows to the Balancer DAO.
65% is utilized for the same pool that generates the fees
This means that an increase in the TVL also leads to more fees being generated which means higher pool / voting incentives.
QiDAO celebrates its second anniversary.
It was one of Balancer’s first launch partners that helped facilitate the protocol’s deployment on Polygon.
QiDAO is the creator of Mai Finance, “an open source and non-custodial stable protocol for extracting value out of priced assets”. They also created a stablecoin called $MAI.Swell’s AMA featuring Balancer is now available as a recording.
It centered around Balancer’s role in the world of Liquid staking and offered some insights into how the DAO is navigating the concept post the Shanghai upgrade.
In their latest thread Aura Finance explores core pools and Balancer’s incentive alignment mechanism.
Core Pools arose to meet a need for more alignment between veBAL holders and the “overall success of the protocol”.
Any core pool needs to contain yield-bearing tokens that generate fees which are then partly redirected and used as incentives for “veBAL holders like Aura.”
The process lets voters vote for specific pools that receive additional emissions and in turn rewards them with protocol fees and incentives. LPs get additional vote-based emissions that help grow the TVL.
Core pools are a Balancer staple and they are likely to continue to play an important role in the ecosystem’s growth.Karpatkey releases their latest weekly report covering Balancer’s Farms.
It highlights the current revenues, positions as well as portfolio holdings.Stablecoins make up slightly over 50% of the total portfolio value with Ether accounting for 26%, here’s a complete breakdown:
Here are the current bribes on HiddenHand. The round ends on May 11, 2023.
This section will list the top three expected pools to receive most of the next period’s emissions. Voting is open for four more days, and the next period is scheduled to start on Thursday at 00:00 am UTC.
Mainnet - wstETH / COMP - currently at 9.40%.
Mainnet - wstETH / WETH - currently at 9.39%
Mainnet - BADGER / rETH - currently at 7.68%
You can find an overview of the current LM incentives on the Balancer Mainnet below:
Last week saw 9 Snapshot votes with all of the proposals being approved:
[BIP-276] Enable new L2 gauges
[BIP-277] Enable Authorizer Wrapper
[BIP-278] Enable stMATIC/wMATIC Gauge w/ 10% cap [Polygon]
[BIP-279] Enable COIL/USDC Gauge 2% Cap Correction [Ethereum]
[BIP-280] Pay DAO Multisig Stipends for H1 ‘23
[BIP-281] Year Two Funding Proposal for the Balancer Foundation
[BIP-282] Return undesignated BAL tokens from OpCo to the DAO Treasury
[BIP-283] Change veBAL USD fee component to the new bb-a-usd that uses Aave V3
[BIP-284] Enable wbETH/wstETH Gauge [Ethereum]
This week Dubstard brings another set of warnings:
Be careful with scammers sending "friend requests" out of the blue, no shared servers and nicks like "check my B!O". Checking the bio of those scam accounts or visiting the links listed in their bio will result in loss of assets
Remember, there is no such thing as "Encrypt Wallet", "Node Sync", "Wallet Synchronization", "Rectification", "Remediation", "Fee Reduction", "NFT Mint" and so on. Those are all fake sites and imaginary "tech" sounding reasons for bait users to visit the bogus sites.
Do not open any links sent to you in DMs from anyone pretending to be "mod," "admin", "staff member", etc.
Stay safe! Admins, Ballers and staff will NEVER DM you first. Anyone who messages you privately is likely a scammer.
Remember, Balancer Labs operates primarily under the following domain: https://balancer.fi/
Balancer has a flourishing ecosystem. You’re welcome to contribute to it whether you’re a dev, a community person, or a graphic designer! We strive toward onboarding every new member in a smooth and personalized way.
Join the Ballers and start your Balancer journey now: http://discord.balancer.fi/
Are you looking for a grant? Learn more here.
If you speak Spanish, make sure you give Balancer Español a follow. And if you speak Portuguese, follow Balancer Brasil.
This article is for informational and educational purposes only. It should not be construed as investment or trading advice or a solicitation or recommendation to buy, sell, or hold any digital assets. Transactions on the blockchain are speculative. Carefully consider and accept all risks before taking action.