# Swap

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The function known as ‘Swap’ refers to the exchange of tokens and serves as the fundamental feature of a decentralized exchange. Decentralized exchanges operates on a concept contrasting centralized exchanges. In centralized exchanges, the exchange records the buying and selling prices provided by users in an order book and acts as an intermediary. Therefore, the fees received as intermediation are replaced by fees paid by users to liquidity providers. Token exchanges on decentralized exchanges occur through liquidity providers. Token exchanges on decentralized exchanges occur through liquidity pools, which are contracts that secure tokens. Users who wish to provide liquidity offer pairs of exchangeable tokens to the liquidity pool, and users who want to exchange tokens do so within the liquidity pool. The first action is referred to as liquidity provision, and the latter as a swap.

Various assets within the K STADIUM app are displayed and traded on Atheneswap through wallet integration. With simple operations, users can easily exchange one token for another. The exchange rate is determined by the ratio of the deposited token pairs in the pool. Swap incurs a certain fee, which may be subject to change according to Atheneswap’s fee policy. In the current version, the fee is set at 0.25% of the exchanged tokens. Of the generated transations fees, 0.17% is distributed to liquidity providers.


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