Balancer BAL/USD software aims to incentivize a distributed network of computers to operate an exchange.
It is an automated market maker (AMM), as well as a decentralized exchange (DEX) that has liquidity pools that are used for swapping tokens without relying on central entities.
As a permissionless platform, it lets anyone access it as long as they have a crypto wallet that supports it, and Balancer uses an algorithm to manage its orders.
The TrueUSD partnership as a catalyst for growth
According to an official announcement made on March 31, 2022, TrueUSD TUSD/USD and Balancer (BAL) conducted a partnership as a means of offering liquidity providers with TUSD and BAL rewards from a stablecoin pool incentive program.
This program aims to incentivize liquidity providers to add TUSD-DAI-USDC-USDT to Polygon’s ecosystem.
In return for doing so, they can essentially receive BAL, TUSD, and MATIC rewards, which presents a solid opportunity for liquidity providers as a means of letting them gain exposure to three different assets, all whilst providing liquidity to the ecosystem.
This is a program that is live on-chain and open to everyone.
Should you buy Balancer (BAL)?
On April 1, 2022, Balancer (BAL) had a value of $15.66.
In order for us to get a better perspective as to what kind of value point this is for the BAL token, we are going to go over its performance throughout the previous month, as well as its all-time high value.
In terms of the token’s all-time high, Balancer (BAL) achieved a value of $74.45 on May 4, 2021.
When we go over the performance of the token throughout the previous month, Balancer (BAL) had its lowest point of value on March 14, when it was worth $10.55.
Its highest point of value, on the other hand, was on March 30, when the token increased to $17.4 in value.
This marked an increase in value of $6.85 or 65%.
With this in mind, at $15.66, the token is worth buying as it can reach $20 by the end of April 2022.
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from Market Analysis – Invezz