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**Balancer** is an automated **portfolio manager**, **liquidity provider**, and **price sensor**.
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Balancer turns the concept of an index fund on its head: instead of a paying fees
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to portfolio managers to rebalance your portfolio, you collect fees from traders, who rebalance
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your portfolio by following arbitrage opportunities.
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Balancer is based on an N-dimensional invariant surface 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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