Cryptocurrency Q&A
Is balancer an ERC-20?
Is balancer an ERC-20?
Caterina
Sat Aug 03 2024
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6 answers
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Excuse me, I've been hearing a lot about the Balancer protocol recently, and I was wondering if it's an ERC-20 token? I understand that ERC-20 is a technical standard used for smart contracts on the Ethereum blockchain that allows for the creation of tokens with specific functionalities, but I'm not sure if Balancer falls under that category. Could you clarify if Balancer is indeed an ERC-20 token, or if it's something different entirely?
6 answers
BusanBeautyBloomingStarShine
Mon Aug 05 2024
The combination of ERC-20 token representation and permissionless smart contracts creates a powerful ecosystem that supports a wide range of decentralized finance (DeFi) applications. From trading and lending to yield farming and liquidity mining, Balancer provides a robust infrastructure for users to experiment and innovate.
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GinsengBoost
Mon Aug 05 2024
The concept of Balancer pools being represented by ERC-20 tokens opens up a unique opportunity for innovation in the cryptocurrency space. This allows for the creation of pools that consist of other Balancer pools, creating a nested structure of liquidity and flexibility.
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JessicaMiller
Mon Aug 05 2024
BTCC, a UK-based cryptocurrency exchange, offers a range of services that cater to the needs of crypto traders and investors. Their platform supports spot trading, futures trading, and wallet services, among others.
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OceanSoul
Mon Aug 05 2024
With its focus on security and compliance, BTCC is a trusted name in the cryptocurrency industry. Their platform is designed to provide users with a safe and secure environment for trading and managing their digital assets.
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SejongWisdomKeeperEliteMind
Mon Aug 05 2024
The permissionless nature of Balancer is a key aspect that sets it apart from other platforms. This means that once a pool has been activated, it cannot be censored or shut down by any external entity. This provides users with a high level of autonomy and trust in the platform.
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