Ask about Balancer · freeTotal Value Locked$38.35m
TVL by Chain
Ethereum$28.73m
Monad$3.51m
Polygon$2.41m
Arbitrum$1.71m
Base$744,047
Hyperliquid L1$426,485
OP Mainnet$344,552
Gnosis$264,094
Avalanche$153,309
Plasma$27,526
Mode$18,567
Fraxtal$11,483
Polygon zkEVM$0
Key Metrics
Fees 30d$139,335
Fees 30d by chain
Ethereum$77,065
Polygon$29,062
Monad$14,339
Base$8,263
Arbitrum$8,109
OP Mainnet$985.91
Gnosis$787.88
Avalanche$591.09
Hyperliquid L1$109.96
Plasma$12.37
Mode$6.76
Fraxtal$1.85
Fees 7d$16,275
Ethereum$9,237
Monad$2,332
Base$1,489
Polygon$1,396
Arbitrum$1,221
OP Mainnet$337.21
Gnosis$146.82
Hyperliquid L1$69.74
Avalanche$42.83
Plasma$1.80
Mode$1
Fraxtal$0.34
Fees 24h$1,941
Ethereum$1,029
Monad$361
Base$215
Polygon$173
Arbitrum$119
OP Mainnet$17.78
Gnosis$16.24
Hyperliquid L1$5.24
Avalanche$3.99
Mode$0.08
Plasma$0.06
Fraxtal$0.03
Cumulative Fees$301.78m
Ethereum$279.14m
Polygon$7.1m
Arbitrum$5.01m
Base$4.34m
Gnosis$2.75m
Plasma$1.36m
Avalanche$924,907
OP Mainnet$859,692
Monad$205,747
Hyperliquid L1$60,881
Mode$22,684
Fraxtal$5,210
Polygon zkEVM$7
Revenue 30d$50,909
Revenue 30d by chain
Ethereum$27,104
Polygon$14,530
Base$3,240
Arbitrum$2,839
Monad$2,335
Gnosis$388.59
OP Mainnet$245.49
Avalanche$192.53
Hyperliquid L1$26.63
Mode$3.37
Plasma$1.67
Fraxtal$0.91
Revenue 7d$4,641
Ethereum$2,504
Polygon$697
Base$528.42
Arbitrum$386.83
Monad$315
OP Mainnet$105.57
Gnosis$72.92
Hyperliquid L1$17.57
Avalanche$12.48
Mode$0.49
Plasma$0.25
Fraxtal$0.17
Revenue 24h$563
Ethereum$291
Polygon$86
Base$85.99
Monad$46
Arbitrum$40
Gnosis$8.27
OP Mainnet$3.79
Hyperliquid L1$1.30
Avalanche$0.80
Mode$0.04
Fraxtal$0.02
Plasma$0.01
Cumulative Revenue$64.61m
Ethereum$54.61m
Polygon$3.55m
Arbitrum$2.17m
Base$1.8m
Gnosis$1.28m
Plasma$459,753
OP Mainnet$390,867
Avalanche$289,577
Monad$26,219
Hyperliquid L1$16,736
Mode$11,345
Fraxtal$2,606
Polygon zkEVM$277
Holders Revenue 30d$0
Holders Revenue 30d by chain
Arbitrum$0
Avalanche$0
Base$0
Ethereum$0
Fraxtal$0
Gnosis$0
Hyperliquid L1$0
Mode$0
Monad$0
OP Mainnet$0
Plasma$0
Polygon$0
Holders Revenue 7d$0
Arbitrum$0
Avalanche$0
Base$0
Ethereum$0
Fraxtal$0
Gnosis$0
Hyperliquid L1$0
Mode$0
Monad$0
OP Mainnet$0
Plasma$0
Polygon$0
Holders Revenue 24h$0
Arbitrum$0
Avalanche$0
Base$0
Ethereum$0
Fraxtal$0
Gnosis$0
Hyperliquid L1$0
Mode$0
Monad$0
OP Mainnet$0
Plasma$0
Polygon$0
Cumulative Holders Revenue$39.92m
Ethereum$33.56m
Polygon$2.11m
Arbitrum$1.34m
Base$1.27m
Gnosis$800,137
Plasma$378,885
OP Mainnet$243,490
Avalanche$198,450
Hyperliquid L1$11,490
Mode$6,967
Monad$3,535
Fraxtal$1,602
Polygon zkEVM$170.35
Incentives 1y$893,323
Incentives 30d$35.10
Incentives 7d$11.05
Incentives 24h$0
Cumulative Incentives$416.5m
Earnings (Annualized)$964,858
Earnings 30d$50,874
Earnings 7d$4,630
Earnings 24h$563
Cumulative Earnings-$351.9m
DEX Volume 30d$149.5m
DEX Volume 30d by chain
Polygon$47.51m
Monad$42.06m
Ethereum$37.35m
Arbitrum$12.69m
Base$7.57m
Gnosis$1.03m
OP Mainnet$856,108
Avalanche$337,229
Hyperliquid L1$80,624
Plasma$7,976
Fraxtal$3,522
Mode$2,744
DEX Volume 7d$15.23m
Ethereum$4.91m
Arbitrum$3.32m
Monad$3.12m
Base$1.52m
Polygon$1.21m
Gnosis$681,342
OP Mainnet$391,961
Hyperliquid L1$47,002
Avalanche$31,854
Plasma$2,338
Fraxtal$664
Mode$401
DEX Volume 24h$2.23m
Ethereum$911,938
Arbitrum$465,582
Monad$449,170
Base$275,742
Polygon$103,090
Gnosis$9,808
OP Mainnet$4,775
Avalanche$4,064
Hyperliquid L1$1,727
Fraxtal$63
Mode$31
Plasma$4.17
Cumulative DEX Volume$133.613b
Ethereum$109.955b
Polygon$8.406b
Arbitrum$7.573b
Gnosis$2.99b
Base$2.386b
Plasma$924.7m
Avalanche$648.12m
Monad$596.07m
Hyperliquid L1$35.8m
OP Mainnet$32.93m
Fraxtal$28.79m
Polygon zkEVM$26.03m
Mode$11.21m
Market Cap$8.39m
$BAL Price$0.12
Fully Diluted Valuation$8.7m
Outstanding FDV$8.7m
$BAL Volume 24h$199,075
CEX Volume$188,320
DEX Volume$10,478(5.26% of total)
Treasury$9.19m
Majors$1.8m
Stablecoins$3.26m
Own Tokens$454,177
Others$3.67m
Total Raised$39.25m
Mar 24, 2020$3mRound: SeedInvestors: Accomplice, Placeholder, CoinFund, Inflection
Nov 9, 2020$7mRound: Series AInvestors: Pantera Capital, Alameda Research, Accomplice
Feb 10, 2021$5mRound: Investors: DeFiance Capital, 3AC
May 27, 2021$24.25mRound: Investors: Blockchain Capital, FinTech Collective, Longhash Ventures, Fenbushi Capital, Continue Capital, Kain Warwick
Protocol Information
Balancer is a decentralized automated market maker (AMM) protocol built on Ethereum that represents a flexible building block for programmable liquidity.
- Balancer V2Dexs
- Balancer V3Dexs
- Balancer V1Dexs
- Balancer CoW AMMDexs
Yields
Pools Tracked145
Average Supply APY2.48%
User Activity
Active Addresses (24h)38
New Addresses (24h)4
Transactions (24h)585
Gas Used (24h)37 ETH
Gas Cost (24h)$5.69
Methodology
TVL: Total value of all coins held in the smart contracts of the protocol
Fees:
Revenue:
Holders Revenue:
DEX Volume: Volume of all spot token swaps on the DEX
Incentives: Tokens allocated to users through liquidity mining or incentive schemes, typically as part of governance or reward mechanisms.
Earnings: Revenue of the protocol minus the incentives distributed to users
Hacks
Date: Aug 27, 2023
Protocol: Balancer V2
Amount: $800,000
Classification: Oracle Manipulation
Technique: Spot Price Manipulation
Chains: Ethereum
Language: Solidity
Target Type: DeFi Protocol
Date: Sep 19, 2023
Protocol: Balancer V2
Amount: $238,000
Classification: Frontend & Infrastructure
Technique: Frontend Compromise
Chains: Ethereum
Target Type: DeFi Protocol
Date: Nov 3, 2025
Protocol: Balancer V2
Amount: $128m
Classification: Token & Share Accounting
Technique: Rounding Error
Chains: Ethereum, Arbitrum, Base, Polygon, Sonic, Optimism
Language: Solidity
Target Type: DeFi Protocol
Date: Aug 30, 2026
Protocol: Balancer V1
Amount: $234,000
Classification: Token & Share Accounting
Technique: Rounding Error
Chains: Ethereum
Language: Solidity
Target Type: DeFi Protocol
Date: Sep 9, 2026
Protocol: Balancer V1
Amount: $250,000
Classification: Protocol Logic
Technique: Swap Logic Flaw
Chains: Ethereum
Language: Solidity
Target Type: DeFi Protocol
Competitors
Balancer history
TVL is the default DefiLlama definition. Daily values are UTC snapshots from Feb 29, 2020 to Oct 28, 2026.
All-time high TVL: $3.315b on Nov 5, 2021. All-time low TVL: $98 on Mar 13, 2020.
Daily TVL, Sep 29, 2026 to Oct 28, 2026
| Date | TVL |
|---|---|
| Sep 29, 2026 | $58.33m |
| Sep 30, 2026 | $58.33m |
| Oct 1, 2026 | $58.21m |
| Oct 2, 2026 | $58.14m |
| Oct 3, 2026 | $58.4m |
| Oct 4, 2026 | $49.39m |
| Oct 5, 2026 | $49.73m |
| Oct 6, 2026 | $49.22m |
| Oct 7, 2026 | $48.09m |
| Oct 8, 2026 | $46.86m |
| Oct 9, 2026 | $45.15m |
| Oct 10, 2026 | $45.34m |
| Oct 11, 2026 | $45.53m |
| Oct 12, 2026 | $45.36m |
| Oct 13, 2026 | $44.81m |
| Oct 14, 2026 | $45.57m |
| Oct 15, 2026 | $43.48m |
| Oct 16, 2026 | $44.25m |
| Oct 17, 2026 | $43.36m |
| Oct 18, 2026 | $43.24m |
| Oct 19, 2026 | $43.58m |
| Oct 20, 2026 | $43.3m |
| Oct 21, 2026 | $43.74m |
| Oct 22, 2026 | $43.53m |
| Oct 23, 2026 | $42.25m |
| Oct 24, 2026 | $40.53m |
| Oct 25, 2026 | $40.51m |
| Oct 26, 2026 | $40m |
| Oct 27, 2026 | $39.63m |
| Oct 28, 2026 | $39.43m |
TVL at each month end, Nov 2024 to Oct 2026
| Date | TVL |
|---|---|
| Nov 30, 2024 | $1.001b |
| Dec 31, 2024 | $1.069b |
| Jan 31, 2025 | $1.045b |
| Feb 28, 2025 | $765.37m |
| Mar 31, 2025 | $649.09m |
| Apr 30, 2025 | $654.82m |
| May 31, 2025 | $778.88m |
| Jun 30, 2025 | $762.7m |
| Jul 31, 2025 | $886.73m |
| Aug 31, 2025 | $949.8m |
| Sep 30, 2025 | $962.54m |
| Oct 31, 2025 | $779.1m |
| Nov 30, 2025 | $255.56m |
| Dec 31, 2025 | $248.52m |
| Jan 31, 2026 | $258.65m |
| Feb 28, 2026 | $173.7m |
| Mar 31, 2026 | $142.16m |
| Apr 30, 2026 | $105.9m |
| May 31, 2026 | $89.69m |
| Jun 30, 2026 | $61.98m |
| Jul 31, 2026 | $62.1m |
| Aug 31, 2026 | $64.11m |
| Sep 30, 2026 | $58.33m |
| Oct 28, 2026 (latest) | $39.43m |
TVL at each year end, Dec 31, 2020 to Dec 31, 2025
| Date | TVL |
|---|---|
| Dec 31, 2020 | $577.94m |
| Dec 31, 2021 | $2.413b |
| Dec 31, 2022 | $873.82m |
| Dec 31, 2023 | $942.55m |
| Dec 31, 2024 | $1.069b |
| Dec 31, 2025 | $248.52m |
Fees, revenue and holders revenue by UTC calendar month, Nov 2024 to Oct 2026
| Month | Fees | Revenue | Holders revenue |
|---|---|---|---|
| Nov 2024 | $3.33m | $1.65m | $1.01m |
| Dec 2024 | $6.4m | $3.17m | $1.95m |
| Jan 2025 | $3.65m | $1.79m | $1.1m |
| Feb 2025 | $2.62m | $1.25m | $774,990 |
| Mar 2025 | $1.7m | $769,844 | $482,725 |
| Apr 2025 | $1.42m | $632,375 | $406,606 |
| May 2025 | $2.16m | $922,835 | $612,732 |
| Jun 2025 | $1.56m | $587,535 | $379,786 |
| Jul 2025 | $2.01m | $761,736 | $497,038 |
| Aug 2025 | $2.1m | $847,414 | $566,523 |
| Sep 2025 | $2.14m | $775,372 | $564,896 |
| Oct 2025 | $3.1m | $1.13m | $829,074 |
| Nov 2025 | $1.02m | $371,847 | $267,691 |
| Dec 2025 | $608,607 | $210,499 | $146,984 |
| Jan 2026 | $531,336 | $152,428 | $110,405 |
| Feb 2026 | $595,741 | $206,287 | $142,740 |
| Mar 2026 | $377,499 | $105,042 | $74,623 |
| Apr 2026 | $681,502 | $216,365 | $120,752 |
| May 2026 | $560,003 | $151,243 | $0 |
| Jun 2026 | $245,447 | $53,099 | $0 |
| Jul 2026 | $259,253 | $105,712 | $0 |
| Aug 2026 | $203,520 | $56,781 | $0 |
| Sep 2026 | $217,381 | $83,838 | $0 |
| Oct 2026 (to date) | $112,253 | $39,860 | $0 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/balancer
Frequently asked questions
What is Balancer's TVL?
As of Oct 28, 2026, Balancer has $38.35m in total value locked. TVL has decreased 34.8% over the past 30 days.
What chains does Balancer operate on?
Balancer operates on 13 chains: Ethereum, Polygon, Arbitrum, Base, and Gnosis and 8 others. Ethereum holds the largest share at 74.9%.
How much has Balancer generated in fees and revenue?
Over the past 30 days, Balancer generated $139,335 in fees. Of that, $50,909 was protocol revenue. Based on the trailing year, the annualized rate is $5.73m in fees and $1.86m in revenue.
What is the BAL token price and valuation?
BAL is currently trading at $0.12. Its circulating market capitalization is $8.39m, ranking it #1,697. Its fully diluted valuation is $8.7m. Supply currently stands at 69.83m circulating, 72.37m total supply, 96.15m maximum supply.
How has BAL performed recently?
BAL is down 1.6% over the past 7 days and down 9.3% over the past 30 days. Its all-time high is $74.45, reached on May 4, 2021. The token is currently 99.8% below that level.
How does Balancer's TVL compare to similar protocols?
Among Dexs protocols tracked by DefiLlama, Balancer ranks #32 by TVL. The category holds $13.41b across 1,920 protocols, and Balancer accounts for 0.3% of that total. Similar protocols include Curve DEX, Uniswap V3, WOOFi Swap, SushiSwap V3, SushiSwap, Wombat Exchange, Gyroscope Protocol, Archly V2, Uniswap V4, and Uniswap V2.
How much trading volume does Balancer process?
Balancer processed $149.5m in DEX volume over the past 30 days.
Does Balancer have a treasury?
Balancer has a tracked treasury currently valued at $9.19m. Its holdings include $3.26m in stablecoins, $1.8m in major assets, $454,177 in its own tokens, $3.67m in other assets.
Has Balancer ever been exploited?
Balancer has 5 recorded security incidents. The most recent incident occurred on Sep 9, 2026 and involved $250,000. It was classified as Protocol Logic.