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

# Background

Two years since the passing of DeFi summer, investors now understand the huge risks that come with insane APR. As more public chains launch in the market, our team is exploring the challenges faced by those in the DeFi and public chains scenes.

{% content-ref url="/pages/e6wACrUTyifacvuTDbEl" %}
[Aptos Chain](/houstonswap/litepaper/aptos-chain.md)
{% endcontent-ref %}

{% content-ref url="/pages/8UsjOBXY2VkbnmgRjoML" %}
[Traditional DEXs and Market Maker model](/houstonswap/litepaper/traditional-dexs-and-market-maker-model.md)
{% endcontent-ref %}

{% content-ref url="/pages/QqCgx03s4ZmuXWRw8gWh" %}
[Concentrated Liquidity Model](/houstonswap/litepaper/concentrated-liquidity-model.md)
{% endcontent-ref %}

{% content-ref url="/pages/lxlrPO1sc2qVtbVGRx19" %}
[Pain Points](/houstonswap/litepaper/pain-points.md)
{% endcontent-ref %}


---

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