Paragon Swap
ParagonSwap is the Automated Market Maker (AMM) at the heart of Paragon Protocol. It powers permissionless, on-chain trading between crypto assets — with no intermediaries and no centralized control.
Why ParagonSwap feels different
Your keys, your coins. Trade straight from your wallet. No logins. No KYC. No custodians.
Best-execution by design. Our new Paragon Flow layer turns every swap into a signed intent. Intents are batch-auctioned to solvers for the best route and price, reducing MEV and returning surplus back to you.
Paragon Shield (MEV & privacy). Optional private order submission and batch settlement that help you avoid sandwiching and timing games.
Transparent rewards. Liquidity Providers (LPs) earn swap fees plus Flow rebates when their pools are used in winning routes. Lockers (stXPGN / veFlow) share protocol-aligned yield.
How a swap works (two paths)
1) Classic Router (instant)
You submit a standard on-chain transaction to the Router (Uniswap v2-style).
You choose slippage; if price moves too far, it reverts.
You pay the pool fee; there’s no surplus sharing.
Best when you need raw “send it now” execution.
2) Flow (Intent-based) — recommended
You sign an EIP-712 intent:
{ sellToken, buyToken, amountIn, minOut, deadline, prefs }.The Flow Batcher privately groups intents and lets solvers compete for best execution across Paragon pools (and later approved external venues).
Settlement happens on-chain through FlowSettlement, which verifies your signature, executes the route, and splits any surplus (the amount above
minOut) automatically:60% to you (instant cashback)
30% to LPs of the pools actually used (Flow earnings)
10% to stXPGN/veFlow lockers (Testnet defaults; DAO-governed on mainnet.)
Toggle Shield on the Swap screen to use private, batch-settled Flow mode. You’ll see a “You saved …” line item when surplus exists.
Liquidity-backed trading
Trades clear against liquidity pools supplied by the community. When you add liquidity, you receive Paragon LP (PLP) tokens representing your share of the pool. These tokens entitle you to:
Swap fees from that pool
Flow LP rebates when your pool is part of a winning Flow route
(Optional) Farm rewards if the pool has an active farm
Fees & rewards
AMM v2 pool fee (classic & Flow)
0.30% per trade by default (DAO-configurable, pool-specific)
0.25% → LPs (immediate to the pool)
0.05% → Protocol (XPGN buybacks / treasury via Paragon Vault)
These are the “base” AMM fees you already know. They apply whether you use Classic or Flow.
Flow Surplus & Rebates (Flow mode only)
If Flow achieves
amountOut > minOut, the surplus is split automatically:60% → Trader (cashback, paid in the buy token)
30% → LPs used by the winning route (pro-rata by liquidity in that block)
10% → stXPGN / veFlow lockers (execution yield)
A small protocol skim (e.g., 0–5%) may apply before the split (DAO-governed).
You’ll see “You saved …” on the swap confirmation and a Claim button (or autostake to stXPGN if you opt in).
Surplus is additional to base fees. It rewards good routing and the liquidity that actually enables best execution.
Yield farming boost (optional)
Deposit your PLP tokens into Farms to earn additional XPGN. Farming helps offset impermanent loss and deepens the pools most used by traders. With Utilization Gauges rolling out, emissions increasingly favor pools that drive real volume and smooth price impact.
What you’ll see in the app
Swap drawer
Mode: Classic ↔ Flow (Shield)
Min received (bound): your
minOutExpected savings: estimated surplus if Flow wins
Cashback received: on success (Flow only)
LP dashboard
Fees earned: standard pool fees
Flow earnings: surplus rebates from routes that used your pool
Lockers page (stXPGN / veFlow)
Execution yield: your share of surplus directed to lockers
Supported pool types
Today: v2 constant-product pools (XYK) on BNB Chain testnet
Soon: stable pools and CLMM pools (compatible with Flow settlement; no hard fork needed)
Risks & safeguards
Price movement: Classic mode can revert if slippage is too tight. Flow protects against settlement below your
minOut.MEV: Shield reduces common attacks via private batching, but markets are adversarial. We keep an allow-list for external venues at launch and expand thoughtfully.
Impermanent loss: LPing carries market risk. Flow adds rebates; it doesn’t remove IL risk.
FAQ
Do I always get a surplus in Flow?
No. Surplus appears when the solver can beat your bound. If not, you still settle at or above minOut — otherwise it reverts (or falls back to Classic if you’ve enabled fallback).
What token are rebates paid in? In the buy token you receive from the swap.
Can I use Classic swaps only? Yes. Just keep Shield off and use the Router path.
Will external DEX routes be used?
Yes, after testnet we’ll progressively add approved venues (Thena, Pancake, etc.). Flow still enforces your minOut and applies the same surplus split.
Testnet status (next 3–4 weeks)
Flow intents + Shield batching: ON
Surplus split: 60/30/10 (no protocol skim)
External venues: Paragon pools only (Phase 0)
LP Flow earnings + Trader cashback: claimable in-app
Contract addresses and parameters will be listed on the Deployments page.
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