> For the complete documentation index, see [llms.txt](https://docs.blackhole.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.blackhole.xyz/protocol-design/alm-vaults.md).

# ALM Vaults

Automated Liquidity Management (ALM) Vaults

ALM (Automated Liquidity Management) Vaults on Blackhole automate the deployment and rebalancing of liquidity positions through integration of third-party solutions, such as Steer Protocol's [Smart Pools](https://docs.steer.finance/flagship-apps/smart-pools/) and Gamma Labs' [LP Vaults](https://docs.gamma.xyz/gamma/lp-vaults/introduction). Users deposit tokens into non-custodial vaults that handle concentrated liquidity, providing optimized returns without manual intervention. ALM Vaults are designed to automatically adjust liquidity position ranges to maintain optimal price coverage, maximize emission rewards and minimize impermanent loss risk, enabling passive, hands-off yield generation for depositors.

### ALM Indicator

On the Liquidity page, the pools that support an ALM vault, are marked with an ALM indicator icon:

<figure><img src="https://231591381-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F4ai8QkCKA9lGQuDBy6J0%2Fuploads%2FySFgNAnyEasZgkWfSZTO%2FALM%20indicator.png?alt=media&amp;token=359cec7d-b5bc-420f-8b87-af1a38405d5a" alt=""><figcaption></figcaption></figure>

You can also select the ALM filter to only show pools with ALM vaults:

<figure><img src="https://231591381-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F4ai8QkCKA9lGQuDBy6J0%2Fuploads%2FwZjqeGWC2ukONDCVzkDi%2FALM%20filter.png?alt=media&amp;token=77aa8146-5221-4d87-b88f-9ff25b509348" alt=""><figcaption></figcaption></figure>

### Deposit in ALM Vault

In the interface for depositing liquidity, select the ALM option:

<figure><img src="https://231591381-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F4ai8QkCKA9lGQuDBy6J0%2Fuploads%2FElFbYufdPCC6ZJxzJOWV%2Falm%20ui.png?alt=media&amp;token=932d06b4-32a3-4fc4-acce-094ed25efd88" alt=""><figcaption></figcaption></figure>

Select your desired ALM vault from either Steer or Gamma.

Provide allowance for both assets:

<figure><img src="https://231591381-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F4ai8QkCKA9lGQuDBy6J0%2Fuploads%2FGNDtaN98ArF6R9x7dZtc%2Fallow.png?alt=media&amp;token=e4111175-5909-4d33-bf4d-da1cf6225d36" alt=""><figcaption></figcaption></figure>

Click on ADD LIQUIDITY to deposit and sign the transaction with your web3 wallet:

<figure><img src="https://231591381-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F4ai8QkCKA9lGQuDBy6J0%2Fuploads%2FXhXpTmO7qngRyh5XXYVl%2Fimage.png?alt=media&amp;token=28f6c171-c815-4912-8ecd-ad2795544cbc" alt=""><figcaption></figcaption></figure>

Once deposited, the liquidity position is automatically staked and shows up in your Portfolio:

<figure><img src="https://231591381-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F4ai8QkCKA9lGQuDBy6J0%2Fuploads%2FJ3gG9t3Gola6FXLeOaDO%2Fdeposited%20and%20auto%20staked.png?alt=media&amp;token=98bb88ed-4b1e-4c09-b9e9-ccc437baace3" alt=""><figcaption></figcaption></figure>

<figure><img src="https://231591381-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F4ai8QkCKA9lGQuDBy6J0%2Fuploads%2F8MRktSFokA2T26sU0Jz2%2FLP%20ALM%20portfolio.png?alt=media&amp;token=0383bd7d-24fa-48b0-a39d-96b0899cf6ef" alt=""><figcaption></figcaption></figure>

You can claim your Liquidity Rewards manually on the Portfolio page:

<figure><img src="https://231591381-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F4ai8QkCKA9lGQuDBy6J0%2Fuploads%2Fmmxv23EIsoTjowpNTEsZ%2Fclaim%20liquidity%20rewards.png?alt=media&amp;token=816a3f42-baaa-4d0d-82e6-c44dcea87fc0" alt=""><figcaption></figcaption></figure>

### Fees

The following fees apply for the ALM vaults, which are taken from the emissions.

* Steer Fees - 10%
* Gamma Fees - 14%

{% hint style="info" %}
The ALM vaults are third-party integrations provided by [Steer Protocol](https://www.steer.finance/) and [Gamma Strategies](https://docs.gamma.xyz/gamma). Blackhole does not hold custody of user funds and bears no responsibility for the management or performance of the underlying strategies operated by these partners. Users interact with these integrations at their own risk and are encouraged to review the respective terms and conditions available on our partners’ official websites.\
\
APRs displayed for pools are **algorithmically estimated** and subject to change at any time based on market conditions and pool activity. Actual returns may differ from the displayed APR, and past performance is not indicative of future results. We do not guarantee any specific return, yield, or profit, and users should assess their own risk tolerance before providing liquidity.​
{% endhint %}


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