Balancer Labs Raises $24.25 Million in Financing with Participation from Pantera

Balancer Labs receives $24.25 million in funding from venture capital firms.

Balancer Labs Raises .25 Million in Financing with Participation from Pantera

Investors are firmly behind the Balancer deal. Does this mark a resurgence in the hype surrounding the DeFi market?

According to Cointelegraph on May 28, Balancer Labs received $24.25 million in funding from venture capitalists. The funding was led by Blockchain Capital, Fintech Collective, LongHash Ventures, Fenbushi Capital, Content Capital and Kain Warwick, founder of the DeFi protocol Synthetix. These investors purchased BAL tokens directly from Balancer Labs. The new funds will be used to strengthen Balancer’s position as a core infrastructure provider in the DeFi market.

Blockchain Capital investor Aleks Larsen said, “Balancer offers the most flexible pool of combinable liquidity in the automated market maker (AMM) space, and it is uniquely positioned to be a core infrastructure component for decentralized financial protocols and applications. ” He adds.

In the long term, Balancer technology is highly advantageous, widely embedded in higher level systems, capable of driving powerful network effects and having a defensive moat.
Balancer has been repeatedly courted by leading venture capital firms. Last November, Alameda Capital and Pantera Capital invested in the DEFI project. In March, Three Arrows Capital and DeFiance Capital invested $5 million in the company.

Cointelegraph Markets Pro’s VORTECS™ data table shows that Balancer is volatile and entering a new bullish phase. After last week’s market cycle correction, most bullish tokens gained some recovery. Over the past week, the value of the BAL token has fallen by 17%.

The Balancer protocol aims to be a major source of liquidity for the DeFi market. Its team attaches great importance to the Asia-Pacific market, which could become the curator of Defi’s financial products.

Posted by:CoinYuppie,Reprinted with attribution to:
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