Die volledige gids tot Balancer

Die oorspronklike poeltipe. Elke token het 'n gewig (byvoorbeeld 80/20 of 60/20/20) wat sy aandeel in die poel se waarde bepaal. Die poel se invariant hou die geweegde produk van die tokenbalanse konstant.

'n 80/20 ETH/USDC-poel het ten doel om 80% van sy waarde in ETH en 20% in USDC te behou. Soos markpryse beweeg, handel arbitrageurs teen die poel totdat dit terug is by daardie gewigte, en LP's verdien 'n ruilfooi op elke transaksie.

The SOR queries Balancer pools to find the best path for a trade. For large swaps it can split the order across several pools to reduce price impact. Traders get a better price and more pools see volume.

Aggregators such as 1inch, ParaSwap and CoW Protocol also route some of their trades through Balancer pools, so pools receive volume from users who never open the Balancer app.

Introduced in Balancer v2 in 2021, the Vault is a single contract that holds and accounts for the tokens of every Balancer pool. Pool contracts only hold the pricing logic. Per the Balancer docs, this split is what makes the rest of the design possible.

'n Multi-hop-ruil deur die Vault dra slegs die netto verskil aan die einde van die transaksie oor, wat gasfooie verlaag. Die Vault bied ook flitslenings: tokens wat binne een transaksie geleen en terugbetaal word.

Batch swaps run several swaps in one transaction and settle only the net token transfers. This makes routes with many hops cheaper than running each hop separately.

Flitslenings laat arbitrageurs tokens vir die duur van een transaksie by die Vault leen, dit gebruik om 'n prysgaping tussen poele te sluit, en dit terugbetaal voordat die transaksie eindig. Dit hou poelpyse naby aan die breër mark. Die flitsleningsfooi word deur bestuur vasgestel, volgens die Balancer-dokumente.

Wanneer tokenpryse wegbeweeg van die verhouding waarteen jy gedeponeer het, is jou poelaandeel minder werd as om die tokens te hou. Die verlies word permanent as jy teen daardie nuwe verhouding onttrek. Wisselvallige pare dra die meeste IL. Gekorreleerde pare (stablecoins, LST/ETH) en geweegde poele wat na jou voorkeurbate neig, verminder dit.

Balancer's contracts have been audited by firms including Trail of Bits, OpenZeppelin and Certora (reports are in the GitHub repositories, see Sources), and the protocol runs a bug bounty. Audits do not remove risk. In August 2023 a flaw in some v2 boosted pools was exploited, and in November 2025 a rounding flaw in v2 Composable Stable Pools was exploited for more than $100 million across several networks, per the post-mortems on the Balancer forum. Check which pool version you use and read the latest security notices.

Pool creation is permissionless: anyone can create a pool. Some pools hold tokens with malicious contracts, rebasing supply or fee-on-transfer logic that behave badly inside the Vault. Verify each token contract in a pool before you deposit, and prefer pools that Balancer governance has approved for a gauge.

veBAL voters can move BAL emissions away from your pool, which cuts its reward APR. A large part of many pools' yield comes from BAL incentives, so if the BAL price falls, that yield falls with it, liquidity can leave and spreads can widen.