> For the complete documentation index, see [llms.txt](https://balancer.gitbook.io/balancer-v2/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://balancer.gitbook.io/balancer-v2/v1/undefined.md).

# Home

**Balancer** is an automated **portfolio manager**, **liquidity provider**, and **price sensor**.

Balancer turns the concept of an index fund on its head: instead of a paying fees to portfolio managers to rebalance your portfolio, you collect fees from traders, who rebalance your portfolio by following arbitrage opportunities.

Balancer is based on an [N-dimensional invariant surface](https://balancer.finance/whitepaper/) which is a generalization of the constant product formula described by Vitalik Buterin and proven viable by the popular Uniswap dapp.

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Balancer Whitepaper
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