Balancer is one of the biggest AMM DeFi protocols out there. Balancer’s mission is to accelerate innovation in DeFi by providing access to secure infrastructure for liquidity applications.
Balancer Pools contain two or more tokens that traders can swap. Liquidity Providers put their tokens in the pools to collect swap fees. It adopts powerful features to slash gas costs, super-charge capital efficiency, unlock arbitrage with zero-token starting capital, and open the door to custom AMMs.
In light of the bear market, the Balancer DAO wanted to secure enough runway to keep developing its market-leading products, regardless of economic junctures.
Our extensive work with Gnosis made us come to the conclusion that higher levels of efficiency in DAO treasury management are better achieved through merging decentralised team members into a Treasury Core Unit, and that was the case for Balancer. Balancer Core Unit members were trained and assisted by karpatkey, observing strict security standards.
BIP-103 was passed almost unanimously, ratifying the creation of the karpatkey Balancer Treasury Core Unit, tasked with the following main responsibilities:
karpatkey has proposed a list of allowed protocols on Balancer Snapshot. Target addresses and transactions’ call data associated with such protocols were allowlisted in a smart contract so that the funds are always under Balancer’s custody.