> For the complete documentation index, see [llms.txt](https://docs.gnoswap.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.gnoswap.io/core-concepts.md).

# core concepts

- [AMM](https://docs.gnoswap.io/core-concepts/amm.md)
- [Constant Product Market Maker](https://docs.gnoswap.io/core-concepts/amm/constant-product-market-maker.md)
- [Problem: Lazy Liquidity](https://docs.gnoswap.io/core-concepts/amm/problem-lazy-liquidity.md)
- [Concentrated Liquidity](https://docs.gnoswap.io/core-concepts/amm/concentrated-liquidity.md)
- [Positions](https://docs.gnoswap.io/core-concepts/positions.md)
- [Liquidity Mining](https://docs.gnoswap.io/core-concepts/liquidity-mining.md)
- [Fees](https://docs.gnoswap.io/core-concepts/fees.md)
- [Governance](https://docs.gnoswap.io/core-concepts/governance.md)
- [Launchpad](https://docs.gnoswap.io/core-concepts/launchpad.md)