ProtonSwap is a next-generation decentralized exchange on the Proton blockchain, built for fast, feeless swaps and wallet-native trading - even though real usage remains invisible.
What they promise
ProtonSwap claims a smooth AMM experience: swaps without gas fees, direct wallet integration, no intermediaries, and 100% user control. Trades funnel from wallet to chain - swap, stake, farm - everything runs without middlemen. Small fees reward liquidity and stakers: 0.2% goes to LPs, 0.1% to XPR stakers. Stake enough XPR and you earn transaction fee discounts, up to 100%.
The snapshot in action
Listed as "Untracked" by tracking platforms, live swap volume shows zero. Markets aren’t loading. Depth is unreadable. It exists - but it’s dormant. The pipeline is set, tools clicked - but liquidity and real trades don’t follow.
How it should work
Users connect WebAuth or Proton wallet, pick tokens, tap swap or stake. The interface looks polished, staking options light up, rewards tick. But hit Confirm... and nothing moves. Your funds stay parked. The DEX behaves like a deployed beta - everything’s built - but the signal never turns green.
Metrics summary
| Parameter | Status |
|---|---|
| Exchange mechanism | AMM on Proton chain |
| Swap fees | 0.2% to LPs, 0.1% to XPR stakers |
| Fee discounts via XPR | Available up to 100% |
| On-chain swap volume | Essentially zero |
| Liquidity depth | Invisible |
| Interface readiness | Yes |
| Real usage | None notable |
Why it matters (maybe someday)
The Proton team built thoughtful DeFi gear - easy-savvy users, identity-secure wallet, no gas friction, native fee economics. The scaffolding stands tall. But without users, pools stay empty, swap buttons gather clicks that trigger nothing, and governance stays theoretical.
Final take
ProtonSwap is a prototype dressed up as a platform. Deployed code, designed incentives, ready UX - but no volume equals an empty exchange. It didn’t fail, it simply never woke up. If vibrant Proton DeFi blooms, the machinery is in place. For now, it's just blinking waiting.