> For the complete documentation index, see [llms.txt](https://unipilot.gitbook.io/unipilot-v2/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://unipilot.gitbook.io/unipilot-v2/the-pilot-protocol/unipilot-liquidity-management-ulm.md).

# Unipilot Liquidity Management (ULM)

Unipilot v2 offers two modes of liquidity management: 

* Actively-managed vaults
* Community vaults