What is Pirate Swap?

Pirate Swap is the blue-chip DEX with no impermanent loss.

The Blue-Chip DEX

Pirate Swap is a DEX designed for blue-chip tokens (e.g., ETH, WBTC, USD stablecoins, etc.) and no impermanent loss. Blue-chip tokens comprise 70% of all on-chain trading volume.

Pirate's novel architecture makes money for LPs using the same arbitrage strategy used by professional market makers, but implemented in a permissionless and non-custodial manner. In contrast to most DEXs, Pirate's LP yields are not generated from fees.

Pirate computes prices off-chain using a sophisticated formula that incorporates low-latency price feeds from centralized exchanges along with a snapshot of on-chain state. It then uses on-chain proofs to validate prices and preserve permissionlessness. This allows Pirate to make money from arbitrage, instead of paying a tax to arbitrageurs, while keeping gas fees low for traders. On Pirate Swap, liquidity providers take home superior yields with no impermanent loss and traders can expect no whales or bots front-running their trades. Pirate was initially developed by Pirate Team and licensed to Pirate DAO.

Previously, Pirate focused solely on smaller trades. Recent architectural improvements now allow it to provide best prices for all trades, with sufficient TVL.

Pirate Swap is currently available on the following chains:

• Ethereum

• Polygon (coming)

• Optimism (coming)

• Arbitrum (coming)

• Mantle Network (coming)

• Base (coming)