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

# What is Balancer?

## **Overview**

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

Balancer turns the concept of an index fund on its head: instead of 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](https://balancer.finance/whitepaper/) invariant surface which is a generalization of the constant product formula described by Vitalik Buterin and proven viable by the popular Uniswap dapp.

Balancer V2 brings powerful new features to slash gas costs, super-charge capital efficiency, unlock arbitrage with zero-token starting capital, and open the door to custom AMMs.

## Additional Resources

* [Balancer V2 documentation](https://docs.balancer.fi/)
* [Balancer V2 FAQs](https://docs.balancer.fi/getting-started/faqs)