Cryptocurrency liquidity protocol Balancer has reported significant budget cuts, alongside a reduction in headcount, as part of an overhaul of the Balancer brand strategy. These cutbacks were announced to community members during a Thursday online call. The protocol's operations and user interface are to be focused on, and the platform's service provider, Orb Collective, will build out a specialist marketing team to communicate Balancer's complexities to its users. This marketing strategy will involve developing a new "crytpo Twitter-native voice".

The headcount and budget reductions come amidst a difficult period for Balancer. Last month, it emerged that the protocol had been exposed to the Euler Finance exploit and lost close to $12 million worth of tokens from its liquidity pools. Prior to this, Balancer had a read-only reentry bug which resulted in missed revenue opportunities in January when crypto assets surged.

These issues have not phased Balancer's wider goals, however, which still involve making it easier for the crypto community to take advantage of its liquidity protocol. With these budget cuts, and the building of the new marketing team, Balancer are hoping to become the go-to solution for crypto users looking to access the decentralized finance industry.

For the time being, these budget cuts and reductions will shape how Balancer moves forward as a brand, with the marketing arm providing the lead in its new vision. The protocol's ultimate aim is to make it easier for the crypto space to gain access to the decentralized finance industry and, as such, it looks as though Balancer will remain a key player in this sector going forward.



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