Abstract: | The electron-phonon interaction in cuprates with c-axis polarised optical phonons, which is roughly one order of magnitude stronger than superexchange, bounds holes into mobile bipolarons. Bipolarons pin the chemical potential within the charge-transfer gap of doped Mott insulators, accounting for unusual kinetics and thermodynamics of doped cuprates such as the Nernst and giant proximity effects, pseudo-gaps, and normal-state diamagnetism. We propose that “quasi-particle” peaks, “Fermi-arcs”, and high-energy “waterfalls” in the photoemission spectra of cuprates originate from the photo-ionization matrix elements of disorder-localised band-tails in the charge-transfer gap. |