> For the complete documentation index, see [llms.txt](https://learn.charm.fi/charm-finance/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://learn.charm.fi/charm-finance/alpha-pro/background.md).

# Background

Uniswap V3 (V3) was launched on 5th May 2021, and it quickly became the [most capital efficient DEX](https://cointelegraph.com/news/uniswap-v3-flips-v2-on-volume-and-both-versions-flip-bitcoin-on-fee-revenue) within DeFi, surpassing Uniswap V2(V2)’s trading volume using only 25% of its liquidity. This is because for the first time, V3 allowed market making to take place on an AMM by [concentrating liquidity](https://uniswap.org/blog/uniswap-v3) within a price range, rather than across the whole spectrum of prices (aka V2).

Alpha Vaults was launched on Mainnet on [7th May](https://medium.com/charmfinance/alpha-vault-is-live-on-mainnet-25594aee3b82) 2021, 2 days after V3. It is the easiest way to provide liquidity on V3, and has been live on Mainnet for over 8 months. It is still the best performing, least volatile, longest running, and most robust LP vault of its kind.

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Alpha Pro is the next step for Alpha Vaults. It uses Charm’s expertise in [Decentralized Market Making Strategies](https://medium.com/charmfinance/quietly-innovating-a-trillion-dollar-industry-e03ab29cb5d9) to help projects **increase the liquidity of their tokens on V3**.
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