> 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/the-challenges/what-are-projects-doing-now.md).

# What are projects doing now

![Fig 1 — Summarising what projects are doing now to launch tokens. Most projects use Uniswap V2 because it is good for decentralization and liquidity mining, and guarantees tokens will always be tradable; but they miss out on capital efficiency, which is V3’s biggest benefit. To capture capital efficiency, projects can directly incentivise a V3 pool using a V3 staker, or use an active liquidity manager, but they sacrifice tradability, liquidity mining, and decentralization. With Alpha Pro, project can capture V3’s capital efficiency in a decentralized manner, without sacrificing V2’s key benefits such as tradability and liquidity mining.](https://337771475-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F-MVKYbQySKRhJtb4pPaN%2Fuploads%2FVq6mgpfCEWn6oACSPFUo%2FWhat%20doing%20now_Medium_Final.png?alt=media\&token=8637ae9f-8f27-481c-bdaf-cacfdc8a88c5)

Because of the challenges, many projects:

#### **Launch tokens on Uniswap V2, or use a** [**full-range**](https://help.uniswap.org/en/articles/5391541-provide-liquidity-on-uniswap-v3) **position on V3**

* This means projects are missing out on the benefits of V3 to provide deeper liquidity and better price discovery.

**Choose a 3rd party liquidity manager to manage V3 liquidity on their behalf. This means:**

* Limited scope to decentralize, because their liquidity is being managed off-chain.
* Projects run the risk of having no tradable tokens if a V3 range is poorly chosen, if it’s not updated frequently, or if the price is too volatile.

#### **Launch tokens on V3, but with less token incentives.**

* This means there will be a smaller and less efficient markets for the tokens, and will not reduce the risk of a few wallets extracting most of the rewards.
* V3’s capital efficient architecture also introduces a number of [inconveniences ](https://app.betafinance.org/liquidity)for liquidity mining campaigns.