Review on Balancer by Aman Arora
Binancer is very good interface for creating pools with own protocols
Balancer is an automated market maker pool built on ethereum blockhain. Any one can create a pool at balancer by adding two tokens based on ERC20 compatibility. Users can use balancer to swap tokens, provide liquidity and crete a new pool. Users receive liquidity tokens as fees according to their proportion from the pool. Pool owner can customize the fee percentage while creating the pool. Users can add maximum of 8 tokens which should be ERC 20 compatible.
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You can connect to balancer network through metamask or any web3 compatible wallet like Trust Wallet or other available wallets. Users can easily use the swap service to swap tokens available in the wallet.
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You get the options of listed available pools like shared, Private and Public. You just need to click the pool and can track the various pools and through add liquidity option you can provide liquidity to the pool. You can add assets tokens to the pools by unlocking and verifying transaction through your connected wallet.
All the available required information is easily available after connecting the wallet. You can also create your own pool and tokens to the pool and set the fees you would like to set for swaps and at max you can add eight tokens.
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Balancer is like any other Defi platform that provide swaps and staking facility to earn from pools with the advantage of creating your own pools and set fees accordingly and that is why it has been the my favorite swap platform and I have just started to use the platfrom and will update again about the experience and improvements.
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Pros
- Balancer is an automated market maker platform built on Ethereum blockchain with a unique feature of creating your own pool
- Easy to use one click wallet connect with easy to add and remove liquidity from pools
Cons
- Platform is still in early phase and need time to track the performance and reliability
