Zilswap

Zilswap is a fully decentralized protocol for ZRC-2 token exchanges on Zilliqa.

Zilswap makes use of an Autonomous Market Maker based on the Constant Product Formula (x * y = k) first proposed by V. Buterin.

Holders of ZRC-2 tokens and ZIL tokens can contribute to the corresponding liquidity pool in order to back the liquidity pools, and will receive the fee of 0.3% on each swap.

Users and dApps may use the protocol to swap between any 2 tokens without any middlemen. Because the swap is done against the liquidity pools, there is no need to wait for a counterparty, and transactions can be done completely on-chain.