Quipuswap
  • introduction
    • What is QuipuSwap?
    • Participants
    • QuipuSwap subprojects
      • QuipuSwap Farms
      • Quipuswap Stable DEX
      • Token to Token Swaps
      • Governance (text-only)
  • Get Started
    • Install Wallet
    • How to get TEZ
    • How to find my tokens
    • Connect wallet
    • FAQ
  • Dex Guides
    • Overview
    • Types of the exchange (Token/TEZ, Token/Token)
    • How to use the DEX
      • Trade
      • How to add liquidity to an existing liquidity pool
      • How to create a new liquidity pool
      • How to remove liquidity
      • How to vote for a baker
      • How to ban/veto a baker
  • Tezos Tokens
    • What is a Token?
    • What is the difference between FA1.2 and FA2 standards?
    • QUIPU Tokenomics
  • Smart Contracts
    • Dex token edition
      • Overview
      • Dex
      • Exceptions
    • QuipuSwap stable swap DEX
      • 🛠️Developer module
        • 📄Storage & action types
        • 🔵Developer setter entrypoints
          • set_dev_address
          • set_dev_fee
      • 🏠Standalone DEX
        • 📄Storage and types overview
        • 🟡Initialization
          • set_admin_function
          • set_dev_function
          • set_dex_function
          • set_token_function
        • 🟠Add new dex
          • add_pool
        • 🔵DEX methods
          • invest
          • swap
          • 📤Divesting
            • divest
            • divest_imbalanced
            • divest_one_coin
          • 🤑DEX rewards
            • claim_referral
            • stake
        • 🛠️Developer methods
          • claim_developer
          • Dev module entrypoints
        • 🛑Admin methods
          • add_rem_managers
          • ramp_A
          • set_admin
          • set_fees
          • stop_ramp_A
      • 🏭Factory
        • 📄Storage and types overview
        • 🟡Initial setup
          • set_init_function
          • set_dev_function
          • DEX compiled codebase setup
            • set_admin_function
            • set_dex_function
            • set_token_function
        • 🟠Initialize new DEX flow
          • add_pool
          • start_dex
        • 💱Deployed from factory DEX
          • 📄Storage and types overview
          • 🟡Initialization
            • copy_dex_function
            • freeze
          • 🔵DEX methods
          • 🛠️Claim developer rewards
          • 🛑Admin methods
        • 🛑Developer methods
          • claim_rewards
          • 🧑‍💻Factory management
            • 🟢Factory params
              • set_burn_rate
              • set_price
              • set_whitelist
            • 🔵Dev module entrypoints
    • Dex 2.0
      • ⁉️Errors overview
      • 🥐BakerRegistry contract
        • Storage and types overview
        • Entrypoints overview
          • validate
          • register
      • ⚙️FlashSwapsProxy contract
        • Storage and types overview
        • Entrypoints overview
          • default
      • 🧺Bucket contract
        • Storage and types overview
        • Entrypoints overview
          • fill
          • pour_out
          • pour_over
          • withdraw_rewards
          • ban_baker
          • vote
          • default
        • On-chain views overview
          • is_banned_baker
          • get_tez_balance
          • get_user_candidate
      • ⚖️Auction contract
        • Storage and types overview
        • Entrypoints overview
          • Auction entrypoints
            • receive_fee
            • launch_auction
            • place_bid
            • claim
          • Admin entrypoints
            • set_admin
            • confirm_admin
            • set_baker
            • set_fees
            • set_auction_duration
            • set_min_bid
            • update_whitelist
            • withdraw_dev_fee
            • withdraw_public_fee
            • burn_bid_fee
      • 🏦DexCore contract
        • Storage and types overview
        • Entrypoints overview
          • DEX entrypoints
            • launch_exchange
            • invest_liquidity
            • divest_liquidity
            • swap
            • withdraw_profit
            • claim_interface_fee
            • claim_interface_tez_fee
            • withdraw_auction_fee
            • vote
          • Admin entrypoints
            • set_admin
            • confirm_admin
            • set_flash_swaps_proxy
            • set_auction
            • add_managers
            • set_fees
            • set_collecting_period
            • update_token_metadata
            • ban
          • Permits' entrypoints
            • permit
            • set_expiry
          • FA2 entrypoints
            • transfer
            • update_operators
            • balance_of
          • Callbacks
            • launch_callback
            • flash_swap_callback
            • close
        • On-chain views overview
          • check_is_banned_baker
          • get_reserves
          • get_total_supply
          • get_swap_min_res
          • get_toks_per_share
          • get_cumulative_prices
          • get_collecting_period
    • Trusted contracts
    • Farming
      • Referral system overview
      • Fees overview
      • Rewards precision overview
      • BakerRegistry contract
        • Storage and types overview
        • Entrypoints overview
          • validate
          • register
      • Burner contract
        • Storage and types overview
        • Entrypoints overview
          • default
          • burn_callback
      • ProxyMinter contract
        • Storage and types overview
        • Entrypoints overview
          • Admin entrypoints
            • add_minter
            • withdraw_tokens
            • set_admin
            • confirm_admin
          • Minter entrypoint
            • mint_tokens
      • QFarm contract
        • Storage and types overview
        • Entrypoints overview
          • Farming entrypoints
            • deposit
            • withdraw
            • harvest
          • FA2 entrypoints
            • transfer
            • update_operators
            • balance_of
          • Admin entrypoints
            • set_admin
            • confirm_admin
            • set_fees
            • set_reward_per_second
            • set_burner
            • set_proxy_minter
            • set_baker_registry
            • set_is_v1_lp
            • ban_bakers
            • add_new_farm
            • pause_farms
            • burn_tez_rewards
            • withdraw_farm_depo
            • update_token_metadata
          • Other entrypoints
            • burn_farm_rewards
            • default
      • TFarm contract
        • Storage and types overview
        • Entrypoints overview
          • Farming entrypoints
            • deposit
            • withdraw
            • harvest
          • FA2 entrypoints
            • transfer
            • update_operators
            • balance_of
          • Admin entrypoints
            • set_admin
            • confirm_admin
            • set_fees
            • set_reward_per_second
            • set_burner
            • set_baker_registry
            • set_is_v1_lp
            • ban_bakers
            • add_new_farm
            • pause_farms
            • burn_tez_rewards
            • claim_farm_rewards
            • withdraw_farm_depo
            • update_token_metadata
          • Other entrypoints
            • default
  • Brand and Logos
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  1. Smart Contracts
  2. Dex token edition

Overview

Token-friendly AMM is the second automated liquidity protocol version implemented by the Quipuswap. Just as the initial exchange, it aims to empower decentralization, censorship resistance, and security.

The liquidity pool, or pair, is the core atom of the system. Despite the fact that the pool is just an abstraction inside the single contract and not the separate contract instance, each pool is managed separately, and such architecture enables the seamless multihop swaps.

Anyone can become a liquidity provider (LP) for a pool by depositing an equivalent value of each underlying token in return for LP tokens. The tokens represent the user’s share in the pool and can be withdrawn for the underlying assets at any time.

If the pair for certain FA1.2 or/and FA2 tokens doesn’t exist or all the liquidity was withdrawn, anyone can launch it by providing the initial liquidity.

AMM token edition is the automated market maker engine. It follows the exchange path provided by the caller and executes the exchanges, ensuring that the final output amount matches the user’s expectations. Under the hood, each swap is performed according to the constant product formula x * y = k which actually means that the product of tokens reserves should be the same before and after the swap.

In practice, Quipuswap applies a 0.30% fee to trades, which is added to reserves. As a result, each trade actually increases k, and thus reserves under the same amount of shares increase, allowing the LP providers to earn.

The core difference from the Quipuswap v2:

  • token/token pools are supported;

  • multihop pools are supported;

  • all actions have a deadline;

  • all the pools and reserves are stored on a single contract.

As mentioned, the solution consists of a single contract that acts as a pools register and automated market maker engine.

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Last updated 3 years ago