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Merge pull request #122 from balancer/mkflow27/issue94
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"What is Balancer" section in intro V2-like
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mkflow27 authored Jul 4, 2024
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## What is Balancer?

Balancer is a decentralized automated market maker (AMM) protocol built on Ethereum that represents a flexible building block for programmable liquidity.
Balancer is a decentralized automated market maker (AMM) protocol built on Ethereum with a clear focus on fungible and yield-bearing liquidity. Balancer's success is intrinsically linked to the success of protocols and products built on the platform. Balancer v3’s architecture focuses on simplicity, flexibility, and extensibility at its core. The v3 vault more formally defines the requirements of a custom pool, shifting core design patterns out of the pool and into the vault.

Balancer Pools are smart contracts that define how traders can swap between tokens on Balancer Protocol and the [architecture](./architecture.md) of Balancer Protocol empowers anyone to create their own custom pool types. What makes Balancer Pools unique from those of other protocols is their unparalleled flexibility. With the introduction of [Hooks](./hooks.md) and [Dynamic Swap Fees](/concepts/vault/swap-fee.html#dynamic-swap-fee) in v3, the realm of customization is boundless. Several custom pools have already been developed by external protocols like [Gyroscope](https://www.gyro.finance/) and [Xave](https://www.xave.co/). You can follow [this guide](../../build-a-custom-amm/build-an-amm/create-custom-amm-with-novel-invariant.md) to embark on creating your own custom pools.
Balancer Pools are smart contracts that define how traders can swap between tokens on Balancer Protocol, and the [architecture](./architecture.md) of Balancer Protocol empowers anyone to create custom pool types. What makes Balancer Pools unique from those of other protocols is their unparalleled flexibility. With the introduction of [Hooks](./hooks.md) and [Dynamic Swap Fees](/concepts/vault/swap-fee.html#dynamic-swap-fee), the degree of customization is boundless. Several custom pools have already been developed by external protocols like [Gyroscope](https://www.gyro.finance/) and [Xave](https://www.xave.co/). You can follow [this guide](../../build-a-custom-amm/build-an-amm/create-custom-amm-with-novel-invariant.md) to create your own custom pools.

Balancer has already developed, audited and deployed a variety of pool types showcasing diverse functionalities. These pools are readily accessible for existing use cases without requiring permission, and the accompanying code serves as a valuable resource for custom pool development. For more details see the [Exploring Available Balancer Pools](../explore-available-balancer-pools/) section.


## Helpful Articles to Learn More

- [What are automated market makers?](https://chain.link/education-hub/what-is-an-automated-market-maker-amm)
- [What is Balancer? The Complete Guide](https://medium.com/balancer-protocol/what-is-balancer-the-complete-guide-762ee230a9d4)
- [What is Balancer v3?](https://medium.com/balancer-protocol/balancer-v3-the-future-of-amm-innovation-f8f856040122)
- [Vision for Balancer v3](https://forum.balancer.fi/t/balancer-v3-my-thoughts-for-the-future-of-balancer/5801)

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