Logo of Balancer

Balancer(BAL)

Total Value Locked$41.59m

TVL by Chain

Ethereum$31.51m

Monad$3.66m

Polygon$2.43m

Arbitrum$1.8m

Base$928,777

Hyperliquid L1$425,721

OP Mainnet$347,182

Gnosis$274,800

Avalanche$157,334

Plasma$29,754

Mode$18,820

Fraxtal$10,191

Polygon zkEVM$0

Key Metrics

Fees 30d$168,763
Fees 30d by chain

Ethereum$92,617

Polygon$36,236

Monad$15,450

Base$12,486

Arbitrum$9,429

Gnosis$904.61

OP Mainnet$896.77

Avalanche$644.64

Hyperliquid L1$74.40

Plasma$15.40

Mode$7.86

Fraxtal$1.89

Fees 7d$25,082

Ethereum$17,245

Monad$2,418

Polygon$2,249

Arbitrum$1,452

Base$1,222

OP Mainnet$269.22

Gnosis$121.28

Avalanche$77.40

Hyperliquid L1$23.86

Plasma$2.85

Mode$0.96

Fraxtal$0.46

Fees 24h$2,675

Ethereum$1,520

Arbitrum$380

Monad$313

Polygon$227

Base$171

OP Mainnet$32

Gnosis$20.31

Avalanche$9.45

Hyperliquid L1$1.72

Mode$0.35

Plasma$0.20

Fraxtal$0.06

Cumulative Fees$301.77m

Ethereum$279.13m

Polygon$7.1m

Arbitrum$5.01m

Base$4.34m

Gnosis$2.75m

Plasma$1.36m

Avalanche$924,886

OP Mainnet$859,489

Monad$204,380

Hyperliquid L1$60,826

Mode$22,684

Fraxtal$5,210

Polygon zkEVM$7

Revenue 30d$64,436
Revenue 30d by chain

Ethereum$34,208

Polygon$18,118

Base$5,348

Arbitrum$3,329

Monad$2,537

Gnosis$445.47

Avalanche$215.33

OP Mainnet$210.87

Hyperliquid L1$15.69

Mode$3.93

Plasma$2.46

Fraxtal$0.93

Revenue 7d$9,172

Ethereum$6,634

Polygon$1,123

Base$464.55

Arbitrum$455.83

Monad$328

OP Mainnet$76.84

Gnosis$59.83

Avalanche$22.65

Hyperliquid L1$5.86

Mode$0.48

Plasma$0.43

Fraxtal$0.24

Revenue 24h$894

Ethereum$550

Polygon$113

Arbitrum$105

Base$65

Monad$39

Gnosis$10.07

OP Mainnet$8.41

Avalanche$3.31

Hyperliquid L1$0.42

Mode$0.17

Plasma$0.04

Fraxtal$0.03

Cumulative Revenue$64.6m

Ethereum$54.61m

Polygon$3.55m

Arbitrum$2.17m

Base$1.8m

Gnosis$1.28m

Plasma$459,753

OP Mainnet$390,809

Avalanche$289,572

Monad$26,033

Hyperliquid L1$16,723

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$929,794

Incentives 30d$25.91

Incentives 7d$5.99

Incentives 24h$0

Cumulative Incentives$416.5m

Earnings (Annualized)$1.05m

Earnings 30d$64,410

Earnings 7d$9,166

Earnings 24h$894

Cumulative Earnings-$351.9m

DEX Volume 30d$178.82m
DEX Volume 30d by chain

Polygon$59.51m

Monad$49.44m

Ethereum$42.91m

Arbitrum$12.69m

Base$11.92m

Gnosis$1.08m

OP Mainnet$622,448

Avalanche$471,515

Hyperliquid L1$157,920

Plasma$10,243

Fraxtal$3,608

Mode$3,196

DEX Volume 7d$22.6m

Ethereum$8.97m

Monad$5.9m

Arbitrum$3.43m

Polygon$1.68m

Base$1.59m

Gnosis$687,010

OP Mainnet$209,105

Avalanche$87,895

Hyperliquid L1$35,391

Plasma$3,660

Fraxtal$910

Mode$379.18

DEX Volume 24h$2.95m

Ethereum$782,153

Gnosis$620,972

Arbitrum$569,070

Monad$407,036

Polygon$227,048

Base$223,232

OP Mainnet$81,394

Hyperliquid L1$30,374

Avalanche$6,778

Plasma$1,172

Mode$145

Fraxtal$118

Cumulative DEX Volume$133.606b

Ethereum$109.953b

Polygon$8.405b

Arbitrum$7.571b

Gnosis$2.989b

Base$2.385b

Plasma$924.7m

Avalanche$648.11m

Monad$594.51m

Hyperliquid L1$35.79m

OP Mainnet$32.66m

Fraxtal$28.79m

Polygon zkEVM$26.03m

Mode$11.21m

Market Cap$8.49m

$BAL Price$0.12

All Time High$74.45

All Time Low$0.086

View $BAL token page

Fully Diluted Valuation$8.8m

Outstanding FDV$8.8m

$BAL Volume 24h$292,200

CEX Volume$252,824

DEX Volume$9,804(3.36% of total)

Treasury$9.47m

Majors$1.84m

Stablecoins$3.26m

Own Tokens$451,333

Others$3.92m

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

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Protocol Information

Balancer is a decentralized automated market maker (AMM) protocol built on Ethereum that represents a flexible building block for programmable liquidity.

WebsiteGitHubX/TwitterSafe Harbor Agreement
Category:Dexs
Products:

Yields

Pools Tracked147

Average Supply APY4.31%

User Activity

Active Addresses (24h)54

New Addresses (24h)1

Transactions (24h)130

Gas Used (24h)5.99 ETH

Gas Cost (24h)$13.42

Methodology

TVL: Total value of all coins held in the smart contracts of the protocol

Fees:

Balancer V1 - Swap fees paid by traders on the counted swaps, at each pool's own swap feeView code on GitHubBalancer V2 - All trading fees collected (includes swap and yield fee)View code on GitHubBalancer V3 - Fees earned from all the trades and yields.View code on GitHub

Revenue:

Balancer V1 - Balancer V1 takes no protocol fee, so protocol revenue is zeroView code on GitHubBalancer V2 - Balancer V2 protocol collects 50% swap fees as revenue.View code on GitHubBalancer V3 - Revenue earned by the protocol and holders, which is 25% ( 50 % before 2026-04-23 ) of the trade fees and 10% of the yield capture.View code on GitHub

Holders Revenue:

Balancer V1 - Money going to governance token holdersView code on GitHubBalancer V2 - Share of revenue to veBAL holders (None after 2026-04-23)View code on GitHubBalancer V3 - Portion of protocol revenue distributed to token holders (e.g., veBAL/BAL) (82.5 % of revenue before 2026-04-23, 0 % of revenue after )View code on GitHub

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

Curve DEX ($1.187b)Uniswap V3 ($1.64b)WOOFi Swap ($3.43m)SushiSwap V3 ($42.32m)SushiSwap ($38.04m)Wombat Exchange ($1.04m)Gyroscope Protocol ($422,320)Archly V2 ($1,046)Uniswap V4 ($1.517b)Uniswap V2 ($935.65m)

Balancer history

TVL is the default DefiLlama definition. Daily values are UTC snapshots from Feb 29, 2020 to Oct 23, 2026.

All-time high TVL: $3.315b on Nov 5, 2021. All-time low TVL: $98 on Mar 13, 2020.

Daily TVL, Sep 24, 2026 to Oct 23, 2026

DateTVL
Sep 24, 2026$58.03m
Sep 25, 2026$58.2m
Sep 26, 2026$57.85m
Sep 27, 2026$59.05m
Sep 28, 2026$58.86m
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

TVL at each month end, Nov 2024 to Oct 2026

DateTVL
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 23, 2026 (latest)$42.25m

TVL at each year end, Dec 31, 2020 to Dec 31, 2025

DateTVL
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

MonthFeesRevenueHolders 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)$101,126$37,007$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 23, 2026, Balancer has $41.59m in total value locked. TVL has decreased 29.4% 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 75.7%.

How much has Balancer generated in fees and revenue?

Over the past 30 days, Balancer generated $168,763 in fees. Of that, $64,436 was protocol revenue. Based on the trailing year, the annualized rate is $6.1m in fees and $1.98m in revenue.

What is the BAL token price and valuation?

BAL is currently trading at $0.12. Its circulating market capitalization is $8.49m, ranking it #1,610. Its fully diluted valuation is $8.8m. Supply currently stands at 69.83m circulating, 72.37m total supply, 96.15m maximum supply.

How has BAL performed recently?

BAL is down 0.7% over the past 7 days and up 3.1% 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 #31 by TVL. The category holds $14.032b across 1,918 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 $178.82m in DEX volume over the past 30 days.

Does Balancer have a treasury?

Balancer has a tracked treasury currently valued at $9.47m. Its holdings include $3.26m in stablecoins, $1.84m in major assets, $451,333 in its own tokens, $3.92m 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.