Research corpus MarketsBLC-STUDY-0038

Balancer: A non-custodial portfolio manager, liquidity provider, and price sensor

The Balancer paper generalises the two-asset constant-product pool to a weighted basket of several tokens. Traders rebalance the basket. Liquidity providers define target weights. The pool is both an index and a market.

Official external source only
Design paper
Official source

Compare

Record

Authors: Fernando Martinelli and Nikolai Mushegian
Date: 2019
Publisher: Fernando Martinelli and Nikolai Mushegian
Version: Source cited by the 2019 study. The study is the reading. This page does not add a second essay.
Document ID: BLC-STUDY-0038
DOI: None recorded
Last reviewed: 1 October 2026
Licence: No licence recorded. Rights status under review.

No hash is published. This build does not store those PDF bytes, so a checksum would be invented. Where a legacy path exists, it points at the Internet Archive copy of the old library.

Direct answer

Where to read

Official source — Balancer white paper
Blockchain Lab study, the canonical readingOriginal commentary. Not a transcription of the paper.

Metadata and commentary only. The reading is the study page.

Full text

Full text is not published on this page. Public availability is not a licence to republish a document. Blockchain Lab has not recorded a licence that permits an HTML transcription, a training set, or a retrieval corpus of the paper. Text on this page is Blockchain Lab's own wording, or a pointer to a study that is also Blockchain Lab's wording.

What changed

The study separates the text from later network behaviour. This bibliographic page does not repeat that essay.

Relationships

Canonical readingBalancer study
Related paperUniswap
Related paperCurve
Related paperUniswap

Cite this record

These citations point at the source document. They are not a licence to copy it.

Author–date

Martinelli, F., & Mushegian, N. (2019). Balancer: A non-custodial portfolio manager, liquidity provider, and price sensor. Fernando Martinelli and Nikolai Mushegian. https://balancer.fi/whitepaper.pdf

BibTeX

@techreport{balancer2019,
  title = {Balancer: A non-custodial portfolio manager, liquidity provider, and price sensor},
  author = {Fernando Martinelli and Nikolai Mushegian},
  year = {2019},
  institution = {Fernando Martinelli and Nikolai Mushegian},
  url = {https://balancer.fi/whitepaper.pdf},
  note = {Rights status: Official external source only. Blockchain Lab record: https://blockchainlab.com/research/corpus/papers/balancer}
}

RIS

TY  - RPRT
TI  - Balancer: A non-custodial portfolio manager, liquidity provider, and price sensor
AU  - Fernando Martinelli
AU  - Nikolai Mushegian
PY  - 2019
PB  - Fernando Martinelli and Nikolai Mushegian
UR  - https://balancer.fi/whitepaper.pdf
N1  - Rights status: Official external source only
ER  -

CSL-JSON

[
  {
    "type": "report",
    "id": "BLC-STUDY-0038",
    "title": "Balancer: A non-custodial portfolio manager, liquidity provider, and price sensor",
    "author": [
      {
        "literal": "Fernando Martinelli"
      },
      {
        "literal": "Nikolai Mushegian"
      }
    ],
    "issued": {
      "date-parts": [
        [
          2019
        ]
      ]
    },
    "publisher": "Fernando Martinelli and Nikolai Mushegian",
    "URL": "https://balancer.fi/whitepaper.pdf",
    "note": "Rights status: Official external source only. Not a licence to republish the paper."
  }
]

JSON BibTeX file RIS file CSL-JSON

Rights record

Source status: Official source
Use status: Metadata and commentary only. The reading is the study page.
Rights: Official external source only
Training and retrieval: Not permitted from this site. There is no rights-cleared full text to retrieve or to train on.

Rights and licensing Corrections