If there’s a DAO, there’s a whale—and it’s probably vying for domination. In this case, Balancer has taken an interesting pivot against a crypto cetacean roaming its digital waters. After roughly eight months harvesting the popular DeFi project’s coin, Humpy has agreed to a peace treaty of sorts. Yes, Humpy is really the name the community gave to this whale. Balancer is a portfolio management tool that lets anyone spin up a multi-token liquidity pool. Users can then assign specific weightings for each token in the pool, auto-balancing (hence the name) as traders swap coins. One of the protocol’s largest pools contains 80% BAL (Balancer’s native token) and 20% WETH (Wrapped Ethereum). And if you’re interested in participating in Balancer’s governance, you’ll need to join this specific pool. In exchange for depositing funds into the pool, you’ll receive “Balancer Pool Tokens,” which represent a sort of receipt that your deposit is indeed sitting in this pool. With those BPTs in hand, you can then lock them back into the protocol in exchange for Balancer’s governance token: veBAL. Simple enough, right? (And for a quick run through of ve-tokenomics, definitely check out our previous coverage of all things Curve Wars.) Curve was one of the first projects to launch this kind of token model.
Read more : How Balancer DAO Achieved Peace With a Clever Whale Named Humpy.
