DeFi protocol Balancer raises seven-figure sum via a token sale

Decentralized finance (DeFi) protocol Balancer Labs has raised a seven-figure sum via the sale of its native governance token BAL.

The backers are Pantera Capital and Alameda Research. While Balancer did not disclose the investment amount, Alameda founder Sam Bankman-Fried told The Block that his firm invested a seven-figure sum, i.e., a minimum of $1 million. Pantera did not immediately respond to a request for comment.

With fresh capital at hand, Balancer plans to expand its team ahead of the protocol's V2 launch. The second vers