Honeyswap

Thing ∙ ID: 10870

Honeyswap is a decentralized exchange (DEX) on the xDai chain, replicating UniSwap V2. It uses an automated market maker model and is governed by the 1hive community using the HNY token. Liquidity providers can deposit tokens and receive LP tokens. The exchange supports token swaps, flash loans, and oracles. Users must bridge ERC-20 tokens from Ethereum to xDai. Launched in September 2020, Honeyswap is managed by a decentralized autonomous organization (DAO) with no central location. While there are no formal restrictions, users from US-sanctioned countries may face limitations. The exchange supports ERC-20 tokens and charges a 0.3% fee for swaps. Leverage and margin trading are not available.