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# Exchange

OverSwap is a community-owned Automated Market Maker (AMM) built on Over Protocol, focused on decentralized trading with key features for seamless user experience.

Swapping and Trading

Trade directly from your wallet with no need for centralized exchanges, ensuring you retain full control of your funds.

Liquidity Pools

Provide liquidity to earn LP Tokens, which generate rewards in the form of trading fees. More liquidity ensures more token pairs are available for swapping.

Yield Farming

Lock LP Tokens into a smart contract to earn OSWAP rewards. This feature will be available soon and helps balance the risk of impermanent loss for liquidity providers.

Community Ownership and Future Plans

As a community-driven platform, OverSwap aims to continually enhance user rewards and interaction within the Over Protocol ecosystem.

# Token Swaps

Token swaps on OverSwap allow users to trade tokens seamlessly via automated liquidity pools and market makers on Over Protocol.

Trading Fees

  • StableSwap Pools: Fees depend on individual pool configurations (details available in the “Fee” section).
  • Non-Stablecoin Pools: A fixed 0.25% trading fee is applied:
    • 0.15% returned to liquidity pools as rewards for liquidity providers.
    • 0.10% goes to OSWAP stakers.

These values may be adjusted through DAO votes in the future.

# Liquidity Pools

When you deposit OVER and USDT into a liquidity pool on OverSwap, you will receive OVER-USDT LP tokens. These LP tokens represent your share of the liquidity pool and are a claim to a portion of the funds and rewards generated by the pool. By holding these LP tokens, you have the ability to earn trading fees as they accumulate in the pool.

Every time a trade is executed on OverSwap, a fixed 0.25% fee is charged, of which 0.15% is returned to the liquidity pool as rewards for liquidity providers. These rewards are distributed among all liquidity providers based on their share of the pool. Therefore, by providing liquidity, you can earn passive rewards from every trade conducted on the platform.

However, it's important to note that providing liquidity is not without its risks. One key risk is impermanent loss, which occurs when the value of the tokens in the pool changes relative to when they were initially deposited. If the price of the tokens fluctuates significantly, it can result in a lower value when you withdraw your liquidity than what you initially deposited. This risk should be considered when deciding whether to participate in liquidity pools.

Despite these risks, providing liquidity offers the potential for consistent rewards from trading fees, making it a popular option for many participants in the OverSwap ecosystem.

# How to Add / Remove Liquidity

# Add Liquidity

To add liquidity on OverSwap, follow these detailed steps:

  1. Navigate to the Liquidity Page: Click on the "Pools" dropdown menu and select the Liquidity page.

  2. Choose the Token Pair: Click the Add Liquidity button. In the "Select Pair" section, choose the tokens you wish to add - OVER in the first box and USDT in the second box.

  3. Enter Token Amounts: Enter the amount for one token, and the system will automatically calculate the corresponding amount for the other token. If your balance is insufficient, an error will appear, and the button will turn grey. Adjust the amount or use the MAX button to select the maximum available amount.

  4. Confirm the Deposit: Click Confirm Deposit. If you are adding liquidity to tokens other than OVER, you may need to click Enable twice for each token. Your wallet will prompt you to confirm these actions.

  5. Finalize the Transaction: Once enabled, the Add button will light up. Click it to proceed. Your wallet will then ask for confirmation - confirm the transaction.

  6. View LP Token Balance: After the transaction is successful, you will see your LP token balance displayed on the dashboard, along with other liquidity positions you’ve entered.

These steps ensure that your liquidity is properly added, and rewards will accumulate based on your contribution to the liquidity pool.

# Remove Liquidity

To remove liquidity from OverSwap, follow these steps in detail:

  1. Go to the Pools or Portfolio page: Start by navigating to the Pools page or check under the Portfolio section to see your current liquidity positions.

  2. Select the liquidity pair: Click on the pair from which you want to remove liquidity.

  3. Click Remove: A new modal will appear, allowing you to adjust the amount of liquidity you wish to withdraw.

  4. Choose your removal amount: Use the buttons to select how much liquidity to remove. If you want to remove all your liquidity, select MAX.

  5. Enable the transaction: Before you can proceed, you’ll need to click Enable. Your wallet will ask you to sign the action to confirm.

  6. Click Remove: Once enabled, the Remove button will be activated. Click it to proceed with the liquidity removal.

  7. Confirm token details: A confirmation window will appear, showing the amount of tokens you will receive from removing liquidity. Click Confirm to finalize this process, and your wallet will prompt you to approve the action.

  8. Receive tokens and check remaining liquidity: After confirming, you will receive the tokens corresponding to the liquidity you removed. If you haven’t withdrawn all your liquidity, the remaining value will be updated in the liquidity page.

These steps ensure you can smoothly remove your liquidity from the pool and track the updated values.

# StableSwap

StableSwap on OverSwap is a new feature designed to offer more efficient trading of stable asset pairs, such as USD stablecoins or liquid staking tokens. This feature reduces slippage by utilizing an invariant curve slippage function, making it ideal for assets that are closely priced.

It implements Curve Finance’s AMM by combining the constant sum curve (x + y = k) with the constant product formula (x * y = k). This ensures better price stability within liquidity pools, even when the pool is not perfectly balanced.

As a result, StableSwap helps mitigate impermanent loss—an issue common with standard AMMs—making it less of a concern unless there is extreme depeg. Additionally, slippage is significantly lower compared to normal AMMs.

When conducting trades on StableSwap, you’ll pay lower fees compared to the usual 0.25% fee on the OverSwap AMM. This provides a more cost-effective option for trading similarly priced assets, while enhancing liquidity and efficiency within the OverSwap ecosystem.

# Why choose StableSwap over the standard AMM Swap?

  • StableSwap allows you to trade stablecoins or similar asset pairs more efficiently while maintaining the same simple trading steps.
  • With StableSwap, slippage is significantly lower than in the normal AMM, making transactions smoother.
  • Additionally, trading fees are reduced, providing a more cost-effective way to trade stable assets compared to the regular AMM.

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