> For the complete documentation index, see [llms.txt](https://arbiter-1.gitbook.io/arbiter/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://arbiter-1.gitbook.io/arbiter/arbiter-roots.md).

# Arbiter Roots

1. **Extractable Value** exists within various DeFi protocols due to the liquidity deposited within them.
2. This liquidity is provided by **Liquidity Providers (LPs)**, who are essential to the protocol's operation.
3. **Most of the Protocol Extractable Value** is currently captured by external actors, not by the protocol or its LPs.
4. Despite the fact that **Extractable Value** arises because of the liquidity provided by LPs, they do not directly benefit from it.
5. If a protocol could **redirect Extractable Value** back to its Liquidity Providers, it would offer higher yields and outperform other protocols in terms of liquidity provision.