Frequently Asked Questions
The Phiswap Protocol is an open-source protocol for providing liquidity and trading PHI Smart Chain (PHI20 tokens). It eliminates trusted intermediaries and unnecessary forms of rent extraction, allowing for safe, accessible, and efficient exchange activity. The protocol is non-upgradable and designed to be censorship resistant.
The Phiswap Protocol and the Phiswap Interface were developed by PHI Labs.
Check out the Introduction section of our docs for more info on the different roles played by PHI Labs, the Interface, and the Protocol.
To create a new liquidity pool, provide liquidity, swap tokens, or vote on governance proposals, head over to the Phiswap Interface and connect a Web3 wallet. Remember, each transaction on PHI Smart Chain Costs PHI (Φ). For a more detailed walkthrough, check out our Help Guides.
If you’re a developer interested in building on top of the Phiswap Protocol, please refer to our extensive docs.
Phiswap is an automated market maker. In practical terms, it is a collection of smart contracts that define a standard way to create liquidity pools, provide liquidity, and swap assets.
Each liquidity pool contains two assets. The pools keep track of aggregate liquidity reserves and the pre-defined pricing strategies set by liquidity providers. Reserves and prices are updated automatically every time someone trades. There is no central order book, no third-party custody, and no private order matching engine.
Because reserves are automatically rebalanced after each trade, a Phiswap pool can always be used to buy or sell a token — unlike traditional exchanges, traders do not need to match with individual counter-parties to complete a trade.
For a more in-depth description, check out the Concepts from the documentation.