Balancer Labs completes $ 3 million seed round investment led by Accomplice and Placeholder

Unmanaged portfolio management service Balancer Labs has announced the completion of a $ 3 million seed round investment led by Accomplice and Placeholder, with participation from CoinFund and Inflection. Balancer was founded in 2018 as a project under analysis company BlockScience. Inspired by Uniswap, Balancer found a unique opportunity to mobilize fragmented liquidity and developed an agreement consisting of multiple public and private liquidity pools. Balancer is essentially a universal implementation of Uniswap’s Automated Market Maker (AMM) model, and the concept has drawn wide interest from participants in the open financial ecosystem. Balancer is now in beta and will be open to the public at the end of March. The Balancer protocol has been reviewed by the security company Trail of Bits, and its smart contract has been established on the balancer’s mainnet.