Swaps

Introduction

Token swaps are conducted by calling the router by calling for a specific input or output of a pair of tokens, or with native currency MAS.

Individual Swap

Swaps in Liquidity Book may cross one or more bins inside a token pair contract called Pair. Starting from the active bin, it will consume the liquidity of the bin until reaching the desired amount or emptying the bin. When a bin is empty, liquidity will be taken in the next closest bin at the exchange rate defined by the bin. This bin then becomes the active bin of the pair.

Liquidity Book Router

Swaps on Liquidity Book can be executed through a router contract called Router. This contract will abstract some of the complexity of the swap and allow chained swaps accross several pairs.

On Liquidity Book, it is possible for several Pair with the same tokens to be created, differentiated only by the binStep parameter.

When asking the router to do a swap, every swap step will be described using (tokenIn, tokenOut, binStep).