> For the complete documentation index, see [llms.txt](https://osmosis.gitbook.io/o/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://osmosis.gitbook.io/o/basic-concepts/longterm-liquidity.md). # Long-Term Liquidity Liquidity mining rewards tend to attract short-term “mercenary farmers” who quickly deposit and withdraw their liquidity after harvesting the yield. These farmers are only interested in the speculative value of the governance tokens that they are earning. They usually bounce between protocols in search of the best yield. Mercenary farmers often create the mirage of protocol adoption, but when these farmers leave, it results in significant liquidity volatility. Users of the AMM have difficulty executing trades without encountering slippage. Therefore, long-term liquidity is crucial to the success of an AMM. Osmosis’ design includes two mechanisms to incentivize long-term liquidity: [exit fees](/o/liquidity-providing/fees.md) and [bonded liquidity gauges](/o/liquidity-providing/blg.md). --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter: ``` GET https://osmosis.gitbook.io/o/basic-concepts/longterm-liquidity.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.