ICPSwap

ICPSwap is an automated market maker running on the Internet Computer, with all logic inside canister contracts and no external matching server. Users swap network-native tokens and bridged assets such as ckBTC and ckETH, or supply liquidity to earn fees.

Each pair is served by its own canister, and a factory contract creates pools and handles upgrades; the third version added concentrated liquidity, letting providers choose price ranges for higher capital efficiency across three fee tiers. The protocol uses reverse billing: computation is paid from cycles the platform pre-purchases, so swaps carry no network fee for users. Limit orders are expressed as range liquidity that fills when price reaches the level. Liquidity receipts serve as collateral elsewhere and withdrawal returns both assets by share, while governance votes set fee tiers and incentive splits.