Kwikswap is a protocol for Swapping ERC-20 tokens on Ethereum Blockchain. It eliminates central parties and unnecessary forms of Expenses, fast transaction , efficient trading. Where it makes tradeoffs decentralization, censorship resistance, and security are prioritized. Kwikswap is open-source software licensed under GPL. You can read more about Kwikswap check out the docs.
Kwikswap uses the Constant Product formula. Prices of assets are determined by the amount of each token in a pool. The smart contract maintains a constant using the following function:
x*y=k. In this case
x = token0,
y = token1,
k = constant. For each trade a certain amount of tokens are removed from the pool for an amount of the other token. To maintain
k, the balances held by the smart contract are adjusted during the execution of the trade, therefore changing the price.
Kwikswap is an automated decentralized liquidity protocol. There is no orderbook, no centralized party and no central facilitator of trade. In practical terms this means there are template smart contracts that define a standard way to make liquidity pools and corresponding markets that are compatible with eachother. Each pool is defined by a smart contract that includes a few functions to enable swapping tokens, adding liquidity and more. At its core each pool uses the function
x*y=k to maintain a curve along which trades can happen.
Websites that show token prices, like eitherscan.io or coinmarketcap.com, typically aggregate price data from multiple sources. Some of these sources can be inaccurate, especially regarding new or low volume tokens. If a website or app says a token is worth more than what it shows on Kwikswap, it is due to the website’s inaccurate data sources. Always check the exchange rate on the Kwikswap app before trading.
You might be trying to swap a fee on transfer or deflationary token. If so, you have to increase your allowed slippage to account for the fee taken during the swap. Click on the gear for settings and adjust Slippage tolerance accordingly.
Otherwise if your transaction is taking forever or stuck pending the gas included might be too low and the transaction will not be processed. You probably need to speed up or cancel the transaction in you wallet.
Before speed up any transactionp, please clear all your transactions. If you speed up an approve, Kwikswap can’t detect the new transaction. Open your wallet in the interface and click “clear all” then try refreshing the page.
Ethereum requires gas to complete and execute each transaction. You can also check ETH gas station for the current prices required to complete transactions. Creating a Kwikswap liquidity pool is a slightly costlier transaction because you are executing a more complex smart contract transaction.
If you’re unable to find a token in the default list, you can find the token address using etherscan and paste that address into the search field.
Kwikswap gets the results from the trustwallet asset repository on github. https://github.com/trustwallet/assets Add your token icon to that repo and it will appear on the frontend and on info.
Info.kwikswap reads the details of new tokens when they’re added to the subgraph. There may be some circumstances where an old symbol or name isn’t updated if the token was updated with a proxy contract. A guide to fix this yourself is forthcoming, in the meantime, reach out with the details on our developer discord.
Kwikswap is compatible with any ERC-20 token in the ethereum ecosystem. If you want your project to be searchable in their interface you should seek to be added to a reputable token list or share a link to your token using query parameters. Once loaded via link, the token will be added to their interface.
The kwikswap team makes no guarantees or provides any timeline. Nor will the team ever charge or request funds. We’ve added many UX features to make it easier to share a new token with communities like local storage support and custom linking. Please make use of them.