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Balancer V2(BAL)

Total Value Locked$17.23m

TVL by Chain

Ethereum$13.11m

Polygon$2.41m

Arbitrum$1.1m

Base$251,303

Gnosis$210,052

Avalanche$117,514

Mode$18,481

Fraxtal$11,508

Polygon zkEVM$0

Key Metrics

Fees 30d$86,489

Fees 30d by chain

Ethereum$46,583

Polygon$29,062

Base$5,585

Arbitrum$3,951

Gnosis$765.63

OP Mainnet$292.91

Avalanche$239.08

Mode$6.76

Fraxtal$1.85

Fees 7d$6,117

Ethereum$3,217

Polygon$1,396

Base$776

Arbitrum$426

Gnosis$144

OP Mainnet$138.21

Avalanche$17

Mode$1

Fraxtal$0.34

Fees 24h$603

Ethereum$261

Base$188

Polygon$98

Arbitrum$27

Gnosis$21

OP Mainnet$6.65

Avalanche$1.69

Fraxtal$0.04

Mode$0.01

Cumulative Fees$124.17m

Ethereum$107.79m

Polygon$7.1m

Arbitrum$4m

Gnosis$2.42m

Base$1.74m

OP Mainnet$744,590

Avalanche$343,396

Mode$22,684

Fraxtal$5,210

Polygon zkEVM$7

Revenue 30d$43,239

Revenue 30d by chain

Ethereum$23,291

Polygon$14,530

Base$2,793

Arbitrum$1,971

Gnosis$384.79

OP Mainnet$146.47

Avalanche$119.26

Mode$3.37

Fraxtal$0.91

Revenue 7d$3,058

Ethereum$1,609

Polygon$697

Base$389

Arbitrum$212

Gnosis$72.27

OP Mainnet$69.65

Avalanche$8.52

Mode$0.49

Fraxtal$0.17

Revenue 24h$302

Ethereum$131

Base$94

Polygon$49

Arbitrum$13

Gnosis$11

OP Mainnet$3.33

Avalanche$0.84

Fraxtal$0.02

Mode$0.01

Cumulative Revenue$62.02m

Ethereum$53.84m

Polygon$3.55m

Arbitrum$2m

Gnosis$1.21m

Base$871,473

OP Mainnet$372,291

Avalanche$171,988

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

Mode$0

OP Mainnet$0

Polygon$0

Holders Revenue 7d$0

Arbitrum$0

Avalanche$0

Base$0

Ethereum$0

Fraxtal$0

Gnosis$0

Mode$0

OP Mainnet$0

Polygon$0

Holders Revenue 24h$0

Arbitrum$0

Avalanche$0

Base$0

Ethereum$0

Fraxtal$0

Gnosis$0

Mode$0

OP Mainnet$0

Polygon$0

Cumulative Holders Revenue$37.91m

Ethereum$33m

Polygon$2.11m

Arbitrum$1.21m

Gnosis$742,595

Base$510,651

OP Mainnet$228,630

Avalanche$102,650

Mode$6,967

Fraxtal$1,602

Polygon zkEVM$170.35

DEX Volume 30d$71.38m

DEX Volume 30d by chain

Polygon$47.51m

Ethereum$14.99m

Base$5.41m

Arbitrum$2m

Gnosis$1.01m

OP Mainnet$397,047

Avalanche$67,769

Fraxtal$3,522

Mode$2,744

DEX Volume 7d$4.48m

Polygon$1.21m

Base$1.17m

Ethereum$948,243

Gnosis$677,962

Arbitrum$322,770

OP Mainnet$153,148

Avalanche$3,613

Fraxtal$664

Mode$401

DEX Volume 24h$526,891

Base$232,709

Ethereum$136,396

Polygon$80,772

OP Mainnet$52,770

Arbitrum$11,970

Gnosis$8,987

Avalanche$3,203

Fraxtal$79

Mode$5.18

Cumulative DEX Volume$100.55b

Ethereum$81.694b

Polygon$8.406b

Arbitrum$6.866b

Gnosis$2.812b

Base$470.91m

Avalanche$222.94m

Fraxtal$28.79m

Polygon zkEVM$26.03m

OP Mainnet$12.89m

Mode$11.21m

Protocol Information

Balancer is a protocol for programmable liquidity.

Website X/Twitter

Category:Dexs

Sub Category: Weighted Pool AMM

Audits:

Methodology

TVL: Total value of all coins held in the smart contracts of the protocol Fees: All trading fees collected (includes swap and yield fee)Revenue: Balancer V2 protocol collects 50% swap fees as revenue.Holders Revenue: Share of revenue to veBAL holders (None after 2026-04-23)DEX Volume: Volume of all spot token swaps on the DEX

Yields

Pools Tracked93

Average Supply APY0.6%

Hacks

Date: Aug 27, 2023

Amount: $800,000

Classification: Oracle Manipulation

Technique: Spot Price Manipulation

Chains: Ethereum

Language: Solidity

Target Type: DeFi Protocol

Date: Sep 19, 2023

Amount: $238,000

Classification: Frontend & Infrastructure

Technique: Frontend Compromise

Chains: Ethereum

Target Type: DeFi Protocol

Date: Nov 3, 2025

Amount: $128m

Classification: Token & Share Accounting

Technique: Rounding Error

Chains: Ethereum, Arbitrum, Base, Polygon, Sonic, Optimism

Language: Solidity

Target Type: DeFi Protocol

Competitors

Curve DEX ($1.165b)SushiSwap V3 ($41.76m)SushiSwap ($37.19m)Gyroscope Protocol ($411,872)Archly V2 ($978.31)Uniswap V3 ($1.591b)WOOFi Swap ($3.46m)Elk ($173,188)Uniswap V4 ($1.194b)Uniswap V2 ($917.07m)

Income statement for Balancer V2

YearlyQuarterlyMonthlyCumulative

	Q4 2026*	Q3 2026	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021	Q2 2021
Gross Protocol Revenue	$66.9K	$436.6K	$498.1K	$522.26K	$1.57M	$3.23M	$3.51M	$7.45M	$11.09M	$4.78M	$5.75M	$5.75M	$3.83M	$5.91M	$4.02M	$7.84M	$5.71M	$7.63M	$11.98M	$7.27M	$16.7M	$7.45M	$1.18M
Token Swap Fees	$66.9K	$436.59K	$498.1K	$522.26K	$1.56M	$3.23M	$3.49M	$7.44M	$11.09M	$4.78M	$5.67M	$5.67M	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Flashloan Fees	$0	$9.44	$0.44	$1.46	$0.76	$32.28	$1.14K	$6.64K	$15.81	$98	$3.07	$35.31	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Cost of Revenue	$33.44K	$218.3K	$249.04K	$261.13K	$785.37K	$1.61M	$1.76M	$3.72M	$5.54M	$2.39M	$2.88M	$2.87M	$1.92M	$2.91M	$2.01M	$3.92M	$2.86M	$3.82M	$5.99M	$3.64M	$8.35M	$3.72M	$588.91K
Token Swap Fees To LPs	$33.44K	$218.3K	$249.04K	$261.13K	$779.08K	$1.61M	$1.74M	$3.72M	$5.54M	$2.39M	$2.83M	$2.83M	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Gross Profit	$33.44K	$218.3K	$249.04K	$261.13K	$785.37K	$1.61M	$1.76M	$3.72M	$5.54M	$2.39M	$2.88M	$2.87M	$1.92M	$2.89M	$2.01M	$3.92M	$2.86M	$3.82M	$5.99M	$3.64M	$8.35M	$3.72M	$588.91K
Protocol Fees	$33.44K	$218.3K	$249.04K	$261.13K	$779.08K	$1.61M	$1.74M	$3.72M	$5.54M	$2.39M	$2.83M	$2.83M	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Earnings	$33.44K	$218.3K	$249.04K	$261.13K	$785.37K	$1.61M	$1.76M	$3.72M	$5.54M	$2.39M	$2.88M	$2.87M	$1.92M	$2.89M	$2.01M	$3.92M	$2.86M	$3.82M	$5.99M	$3.64M	$8.35M	$3.72M	$588.91K
Token Holder Net Income	$0	$0	$71.32K	$160.6K	$483K	$992.18K	$1.08M	$2.29M	$3.41M	$1.47M	$1.77M	$1.77M	$1.18M	$1.78M	$1.23M	$2.41M	$1.76M	$2.35M	$3.68M	$2.24M	$5.13M	$2.29M	$362.18K
Protocol Fees	$0	$0	$71.32K	$160.6K	$479.13K	$992.18K	$1.07M	$2.29M	$3.41M	$1.47M	$1.74M	$1.74M	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0

Income flow visualization

YearlyQuarterlyMonthlyCumulative

Balancer V2 history

TVL is the default DefiLlama definition. Daily values are UTC snapshots from Apr 22, 2021 to Oct 28, 2026.

All-time high TVL: $2.262b on Nov 5, 2021. All-time low TVL: $1,601 on Apr 22, 2021.

Daily TVL, Sep 29, 2026 to Oct 28, 2026

Date	TVL
Sep 29, 2026	$30.06m
Sep 30, 2026	$29.96m
Oct 1, 2026	$29.57m
Oct 2, 2026	$29.06m
Oct 3, 2026	$29.63m
Oct 4, 2026	$20.47m
Oct 5, 2026	$20.54m
Oct 6, 2026	$20.59m
Oct 7, 2026	$20.24m
Oct 8, 2026	$19.83m
Oct 9, 2026	$19.18m
Oct 10, 2026	$19.29m
Oct 11, 2026	$19.23m
Oct 12, 2026	$19.02m
Oct 13, 2026	$18.69m
Oct 14, 2026	$19.02m
Oct 15, 2026	$18.35m
Oct 16, 2026	$18.61m
Oct 17, 2026	$18.12m
Oct 18, 2026	$18.07m
Oct 19, 2026	$18.27m
Oct 20, 2026	$18.08m
Oct 21, 2026	$18.4m
Oct 22, 2026	$18.31m
Oct 23, 2026	$17.8m
Oct 24, 2026	$17.05m
Oct 25, 2026	$17.35m
Oct 26, 2026	$17.13m
Oct 27, 2026	$17.18m
Oct 28, 2026	$17.21m

TVL at each month end, Nov 2024 to Oct 2026

Date	TVL
Nov 30, 2024	$957.21m
Dec 31, 2024	$996.6m
Jan 31, 2025	$966.02m
Feb 28, 2025	$667.99m
Mar 31, 2025	$537.97m
Apr 30, 2025	$512.15m
May 31, 2025	$571.52m
Jun 30, 2025	$535.56m
Jul 31, 2025	$624.93m
Aug 31, 2025	$676.29m
Sep 30, 2025	$537.03m
Oct 31, 2025	$433.67m
Nov 30, 2025	$162.79m
Dec 31, 2025	$143.23m
Jan 31, 2026	$129.63m
Feb 18, 2026	$74.32m
Mar 31, 2026	$38.14m
Apr 30, 2026	$36.85m
May 31, 2026	$30.99m
Jun 30, 2026	$27.04m
Jul 31, 2026	$27.93m
Aug 31, 2026	$27.5m
Sep 30, 2026	$29.96m
Oct 28, 2026 (latest)	$17.21m

TVL at each year end, Dec 31, 2021 to Dec 31, 2025

Date	TVL
Dec 31, 2021	$1.673b
Dec 31, 2022	$790.08m
Dec 31, 2023	$792.96m
Dec 31, 2024	$996.6m
Dec 31, 2025	$143.23m

Fees, revenue and holders revenue by UTC calendar month, Nov 2024 to Oct 2026

Month	Fees	Revenue	Holders revenue
Nov 2024	$3.3m	$1.65m	$1.01m
Dec 2024	$6.32m	$3.16m	$1.94m
Jan 2025	$3.56m	$1.78m	$1.1m
Feb 2025	$2.43m	$1.22m	$747,439
Mar 2025	$1.45m	$725,676	$446,288
Apr 2025	$1.1m	$548,133	$337,103
May 2025	$1.42m	$707,637	$435,192
Jun 2025	$999,336	$499,676	$307,301
Jul 2025	$1.25m	$625,775	$384,859
Aug 2025	$1.26m	$631,401	$388,308
Sep 2025	$712,226	$356,124	$219,013
Oct 2025	$944,534	$472,264	$290,443
Nov 2025	$372,123	$186,062	$114,421
Dec 2025	$254,086	$127,044	$78,132
Jan 2026	$146,130	$73,070	$44,937
Feb 2026	$261,411	$130,706	$80,390
Mar 2026	$114,717	$57,351	$35,272
Apr 2026	$299,843	$149,919	$71,324
May 2026	$121,567	$60,781	$0
Jun 2026	$76,689	$38,338	$0
Jul 2026	$194,569	$97,285	$0
Aug 2026	$95,925	$47,966	$0
Sep 2026	$146,105	$73,052	$0
Oct 2026 (to date)	$66,896	$33,442	$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-v2

Frequently asked questions

What is Balancer V2's TVL?

As of Oct 28, 2026, Balancer V2 has $17.23m in total value locked. TVL has decreased 43.1% over the past 30 days.

What chains does Balancer V2 operate on?

Balancer V2 operates on 10 chains: Ethereum, Polygon, Arbitrum, Base, and Gnosis and 5 others. Ethereum holds the largest share at 76.1%.

How much has Balancer V2 generated in fees and revenue?

Over the past 30 days, Balancer V2 generated $86,489 in fees. Of that, $43,239 was protocol revenue. Based on the trailing year, the annualized rate is $2.23m in fees and $1.11m in revenue.

How does Balancer V2's TVL compare to similar protocols?

Among Dexs protocols tracked by DefiLlama, Balancer V2 ranks #51 by TVL. The category holds $13.397b across 1,923 protocols, and Balancer V2 accounts for 0.1% of that total. Similar protocols include Curve DEX, SushiSwap V3, SushiSwap, Gyroscope Protocol, Archly V2, Uniswap V3, WOOFi Swap, Elk, Uniswap V4, and Uniswap V2.

How much trading volume does Balancer V2 process?

Balancer V2 processed $71.38m in DEX volume over the past 30 days.

Has Balancer V2 ever been exploited?

Balancer V2 has 3 recorded security incidents. The most recent incident occurred on Nov 3, 2025 and involved $128m. It was classified as Token & Share Accounting.