Balancer Labs has announced that VC companies Pantera Capital and Alameda Research have invested in Balancer by directly purchasing BAL tokens, although the funding amount is not disclosed. The new funding will help in accelerating the development of Balancer V2. The second evolution of the Balancer protocol intends to bring a significant improvement in transaction costs, user experience, and ease in developer integrations. Fundings from Pantera Capital and Alameda Research Balancer is an Automated Market Maker Protocol based on Ethereum, providing more customization and flexibility compared to its competitions on the market. Its BAL tokens give holders governance rights over the Balancer protocol. Fernando Martinelli, CEO of Balancer Labs commented on the partnership: “Balancer Labs is thrilled to partner with two of the top investment funds in crypto as we move into our next phase of growth, aligned in our vision for building programmable liquidity to power the new financial system. With their hands-on experience in DeFi, both Pantera Capital and Alameda Research are uniquely positioned to help fuel Balancer’s expansion as investors and users of the protocol.” Joey Krug, Co-CIO of Pantera Capital said: “As an active Balancer user, we’re excited to partner with the Balancer team towards building the most flexible and deepest liquidity protocol for tomorrow’s financial system.” Both VC Firms will be End-users of Balancer Protocol Pantera Capital is one of the first VC firms dedicated entirely to crypto, digital assets, and blockchain startups. The firm has a history of launching the first US-based crypto fund when the price of BTC was still around $65. Alameda Research is one of the leading market makers in the crypto sector with funds being deployed in most of the major DeFi platforms. The firm is amping its recent VC investments to boost the growth of the crypto ecosystem. Both the firms will provide additional value by being end-users of the Balancer protocol, besides providing the funding capital by purchasing the BAL tokens.
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