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

# Use Efficient

How traders and depositors use Efficient pools: the swap call, fees, providing liquidity, returns, tranches, pool operators and the risks to check.

Use Efficient is for traders who swap against an Efficient pool and depositors who hold its shares. Pool operators start at [Run a pool](/run-a-pool.md), and apps and aggregators at [Integrate](/integrate.md). Depositors in Everlong vaults start at [Everlong](https://docs.foreverlong.io/everlong).

* [Trade](/use-efficient/trade.md) covers the pair each pool quotes, the swap call and its limits, and when swaps halt. It also covers the preview, common reverts and a typical arbitrage.
* [Fees](/use-efficient/fees.md) covers the swap fee, which the fee hook sets inside the pool's floor and cap. It also covers conversion costs and the performance fees of the pool operator and the protocol.
* [Provide liquidity](/use-efficient/provide-liquidity.md) explains how depositors enter and exit: in proportion, from one asset or by request on the entry market. It also shows what can stop each.
  * [Understanding returns](/use-efficient/provide-liquidity/understanding-returns.md) shows what moves value per share: swap fees, inventory and any performance fee. Interest and any debt move it too, in a pool that uses lending markets.
  * [Tranches](/use-efficient/provide-liquidity/tranches.md) covers senior and junior claims on a pool's shares. Senior claims accrue at a target rate, and junior claims take the first loss.
  * [Pool operators](/use-efficient/provide-liquidity/pool-operators.md) explains who runs each pool and what a pool operator controls. It also says what a depositor checks before depositing in a factory pool.
* [Risks and safeguards](/use-efficient/risks-and-safeguards.md) lists the checks a pool enforces and what a pause never stops. It also covers risks from feeds, hooks, pool operators, contracts and any lending markets a pool uses.