Exchange
ByteSwap is an Automated Market Maker (AMM), and the Exchange is at the heart of ByteSwap. ByteSwap is the leading AMM on the Byte X Chain.
The ByteSwap Exchange offers several features that support decentralized trading:
Swapping/Trading
ByteSwap lets users trade without the need to go through a Centralized Exchange. Everything you do on ByteSwap is routed directly through your own wallet—no need to trust someone else with your coins!
Liquidity Pools
You can only swap tokens on ByteSwap if there is enough liquidity for those tokens. If nobody has added much liquidity for the token or tokens you want to swap, it will be difficult, expensive, or impossible to do so.
Providing liquidity will get you LP Tokens, which will earn you rewards in the form of trading fees for making sure there's always liquidity for the exchange to use.
Yield Farming
Yield farming lets users that are providing liquidity earn JIM rewards by locking their LP tokens into a smart contract. The incentive is to balance out the risk of impermanent loss that comes along with locking in your liquidity.
Last updated