Swaap (SWAAP)

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Overview

Swaap is a research-driven project focused on building and operating onchain trading systems. You will often see the phrase “Swaap blockchain” used to describe how its technology lives across many EVM networks rather than one single chain. The protocol’s core idea is simple: use data and math to make decentralized trading and liquidity more efficient.

Many readers look for the “SWAAP token” and even search for “SWAAP price.” As of now, there is no live SWAAP token and therefore no market-derived SWAAP price. Swaap’s official materials emphasize trading infrastructure and liquidity automation, not a live token. The team has also shifted away from consumer-facing vaults to focus on advanced market-making technology that operates across multiple chains and aggregators. This move keeps the project centered on performance, integration, and research-backed design for DeFi. (medium.com)

History & Team

Origins and funding

Swaap was founded in 2021 by David Bouba and Cyrille Pastour. The founding team combines software engineering and traditional finance experience and collaborates with academic researchers who specialize in market making and financial mathematics. In April 2023, Swaap Labs announced a $4.5 million seed round led by Signature Ventures with participation from New Form Capital, C² Ventures, Kima Ventures, Pareto, Entrepreneur First, and prominent angels such as Pascal Gauthier (Ledger), Richard Ma (Quantstamp), Meltem Demirors (CoinShares), Tegan Kline (The Graph), Julien Bouteloup, Frederic Montagnon, and Thibaud Elzière. (swaap.finance)

People behind the protocol

The co-founders are supported by advisors and engineers with deep backgrounds in mathematics, data, and protocol design. The public team page highlights co-founders Bouba and Pastour as well as research advisors with strong academic credentials in market microstructure and blockchain economics. (swaap.finance)

Technology & How It Works

Market-making, not a typical AMM

Swaap is designed as a market-making infrastructure rather than a simple constant-product AMM. It’s built to offer quotes that reflect real market conditions while protecting liquidity pools during extreme moves. Earlier technical releases described a system that blends onchain and offchain signals, plus robust safeguards, to improve execution and reduce common LP pain points like impermanent loss. (chainwire.org)

Three core modules

Swaap Maker, the protocol’s infrastructure layer, has been documented around three key modules:

• Inventory (onchain): An asset vault (a fork of the Balancer v2 Vault) that handles reserves and aims for gas efficiency and strong security assumptions.
• Quotation (offchain): Strategy logic that computes quotes using low-latency price feeds, volatility, and order flow data.
• Settlement (onchain): A safety gate that runs “sanity checks” such as circuit breakers, max drawdown limits, and last look to handle stress events.
  This modular design supports request-for-quote (RfQ) style liquidity, compounding of fees, and ERC-20 pool shares for composability. (docs.swaap.finance)

Oracle-driven pricing and research roots

Swaap’s approach relies on reliable oracles—most notably Chainlink price feeds in earlier pools—to inform quotes and spreads. The team has also referenced collaboration with the Louis Bachelier Institute to simulate and test market-making strategies under varied market conditions. The result is a system that seeks to be data-driven, aiming for more stable returns for liquidity providers while keeping trades competitive for users. (chainwire.org)

Multi-chain coverage

The Swaap blockchain footprint spans many EVM networks. Official documentation lists availability across major chains, including Ethereum mainnet and popular Layer 2s. This multi-chain reach makes the infrastructure usable wherever DeFi activity is growing, and it aligns with the project’s goal of serving aggregators, applications, and treasuries across the EVM ecosystem. (docs.swaap.finance)

Tokenomics & Utility

The state of the SWAAP token

A frequent question is, “What are Swaap tokenomics?” and “When will the SWAAP token launch?” Swaap’s documentation previously described a future governance token and even displayed a “Swaap Token Net APR” concept to show how potential rewards might compare with other strategies. However, the organization announced a strategic shift in late 2024: consumer-facing products were sunset, and token plans were put on hold. In short, as of today there is no live SWAAP token, final tokenomics are not published, and therefore no SWAAP price. (docs.swaap.finance)

Intended purpose if/when a token exists

If the team revisits a token, the most likely roles—based on prior public notes and standard DeFi patterns—are governance over protocol parameters, incentives for liquidity programs, and alignment between users and the market-making engine. Until any official tokenomics are released, “Swaap tokenomics” remains a forward-looking topic rather than a set of final numbers or allocations. (docs.swaap.finance)

Ecosystem & Use Cases

Who uses Swaap?

Swaap is built for onchain markets that need dependable liquidity. Protocol teams, DAOs, and treasuries can integrate with Swaap to quote tight prices and reduce inventory risk. Aggregators and dApps can route order flow through Swaap for improved execution, while liquidity providers can allocate capital into strategies designed and maintained by researchers and engineers.

After its operating shift, the team highlighted new ways to interact with Swaap’s technology via integrated venues (for example, Euler and Pwn) and invited projects to collaborate on liquidity creation. This focus reflects a B2B and infrastructure-first mindset, where Swaap’s algorithms power liquidity behind the scenes across multiple chains and aggregators. (medium.com)

Beyond DeFi: NFTs and gaming tokens

Because Swaap focuses on market-making fundamentals, the same engine can support a wide range of assets. That includes DeFi blue chips, stablecoins, and long‑tail tokens, but also tokens used in NFTs and gaming economies. For teams building marketplaces or in‑game economies, automated liquidity with smart safeguards can help smooth price discovery and lower slippage. This is why you may see “Swaap DeFi, NFTs, gaming” mentioned together: the core infrastructure can be plugged into many verticals that need healthy, onchain liquidity. (docs.swaap.finance)

Advantages & Challenges

Advantages

• Research-led design: Swaap’s strategy stack is influenced by academic work and careful simulations, including collaboration with the Louis Bachelier Institute. This foundation helps the system adapt spreads and inventory to market conditions. (chainwire.org)
• Oracle-aware pricing: Integrations with reputable oracles enable quote logic that reacts to real prices instead of purely constant-product math. (chainwire.org)
• Safety-focused settlement: Circuit breakers, max drawdown checks, and last look are built to help during de-pegs and flash crashes. (docs.swaap.finance)
• Multi-chain reach: Swaap’s infrastructure works across many EVM chains, which supports broader integration with apps and aggregators. (docs.swaap.finance)
• Seasoned backers and team: The project is backed by well-known investors and angels and led by founders with engineering and finance backgrounds. (chainwire.org)

Challenges

• Pivot to infrastructure: The 2024 shift retired public vaults and put token plans on hold. This changes how everyday users interact with Swaap and places more emphasis on partnerships and integrations. (medium.com)
• Token uncertainty: Because a SWAAP token is not live, questions about “Swaap tokenomics,” “where to buy SWAAP,” and “SWAAP price” do not have concrete answers yet. (docs.swaap.finance)
• Competitive landscape: Market-making in DeFi is crowded, and many teams are exploring oracle-aware or RFQ-style liquidity. Success depends on execution, integrations, and consistent performance over time. (General industry observation.)

Where to Buy & Wallets

Is there a place “where to buy SWAAP” today?

At this time, there is no official SWAAP token trading on public markets, so there is no valid “where to buy SWAAP” path and no SWAAP price feed. If the team introduces a token in the future, they will announce it through official channels. Until then, the project’s focus remains the Swaap market-making stack and its integrations across EVM chains. (medium.com)

Wallet compatibility

Swaap’s infrastructure is designed for EVM networks. When interacting with supported integrations and venues, common EVM wallets such as MetaMask, Coinbase Wallet, Rabby, and hardware wallets like Ledger are typically used to sign transactions. The protocol’s documentation and site reference support for popular EVM wallets and multi-chain deployments, which makes it convenient for teams and integrators working across chains. (docs.swaap.finance)

Regulatory & Compliance

Swaap regulatory status

Swaap positions itself as non-custodial market-making infrastructure with modules onchain and strategy logic offchain. It is not a centralized exchange and does not hold user funds in company accounts; assets stay in smart contracts controlled by users and integrations. The team communicates as a software developer and protocol maintainer; it does not present itself as a licensed broker or exchange in its public materials. Rules can vary by country, so institutions usually assess how such infrastructure fits into their own compliance frameworks. (docs.swaap.finance)

Swaap halal and shariah considerations

The question “Is Swaap halal?” or “Is SWAAP shariah compliant?” comes up often. Swaap’s official website and documentation do not announce any formal halal certification or shariah review. Because there is no live SWAAP token and no stated shariah framework, the halal status is not confirmed either way. Communities that care about Islamic finance typically look at factors such as interest-bearing mechanisms, uncertainty, and the nature of trading activity when assessing a platform. For Swaap, any clear answer would require a recognized shariah board to review and certify the design once a token or revenue-sharing model is defined. (swaap.finance)

Future Outlook

What to watch next

Swaap’s “new chapter” centers on being a behind-the-scenes liquidity engine that powers many apps and chains. The team has stated plans to expand integrations, launch liquidity markets via partner venues like Euler and Pwn, and collaborate with ecosystems that need reliable onchain market making. If this strategy succeeds, Swaap could become embedded infrastructure used by aggregators, treasuries, and token issuers across multiple networks. Should the team revisit a token later, expect any SWAAP tokenomics to reflect this B2B focus, rewarding participation that improves market quality and capital efficiency. (medium.com)

Summary

Swaap is a research-driven project that builds onchain trading systems for the EVM world. Its approach blends oracle-informed pricing, RFQ-style quoting, and safety modules to protect liquidity and improve execution. The co-founders and advisors bring strong backgrounds in software and financial math, and the project is backed by known investors. After sunsetting consumer-facing vaults, Swaap is concentrating on integrations and multi-chain market-making infrastructure. There is no live SWAAP token today, so there is no SWAAP price and no current path “where to buy SWAAP.” For teams building in DeFi—as well as NFTs and gaming economies that need healthy liquidity—the Swaap blockchain infrastructure aims to deliver a flexible, data-driven engine that can plug into many use cases across chains. (docs.swaap.finance)