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Create an account and a funded demo wallet is generated for you instantly — pre-loaded with simulated balances and no real assets. From the top bar, choose Connect wallet to attach it to your session; the protocol is non-custodial, so the wallet stays under your control the entire time.

Once connected, your balances, open positions, health factor, and P&L update live as you interact with each module. Nothing requires a deposit, a seed phrase, or a payment method.

Swaps run against an automated market maker using the constant-product formulax · y = k, where x and y are the two token reserves and k stays constant. When you buy one token, its reserve falls and the other rises, so the price moves along the curve — there is no order book.

Because the curve shifts as you trade, large orders incur price impact, and the fill can drift between quote and execution — that gap is slippage. You set a slippage tolerance; if the price would move beyond it, the swap reverts instead of filling at a bad rate.

When no direct pool exists for a pair, the router bridges through a base asset — typically WETH — executing a two-hop route (e.g. TokenA → WETH → TokenB) and combining the price impact of each leg into the final quote.

Liquidity providers deposit a balanced pair of tokens into a pool and receive LP shares representing their slice of the reserves. Every swap charges a fee that accrues to the pool, so your shares grow in value as trading volume flows through.

A pool's APR is driven by fee income relative to TVL: more volume on less liquidity means a higher rate. The trade-off is impermanent loss — if the two tokens diverge in price, the pool rebalances and you may end up with less value than simply holding. Fees are designed to offset that over time, but it is the core risk of providing liquidity.

Supply assets to a money market to earn interest paid by borrowers. Supplied assets can act as collateral, and each asset has a collateral factor — the share of its value you can borrow against. For example, at an 80% factor, $1,000 of collateral supports up to $800 of debt.

Your health factor measures safety: it is risk-adjusted collateral divided by borrowed value. Above 1.0 you are safe; at or below 1.0 the position can be liquidated, where part of your debt is repaid by selling collateral at a penalty. The protocol blocks any borrow or withdrawal that would drop you to 1.0, so you cannot accidentally open an unsafe position.

Vaults automate a yield strategy: you deposit a single asset and the vault routes it into the underlying source — LP fees, lending interest, or both — then auto-compounds the rewards back into your position. Because earnings reinvest continuously, vaults quote an APY rather than a simple APR.

Each vault carries a risk tier — conservative strategies favor stable, deep markets at lower APY, while higher tiers chase richer yields with more volatility and smart-contract surface area. Pick a tier that matches how much variance you want; each vault card shows its strategy, risk tier, APY, and TVL.

Fees are transparent and flow back to the people providing liquidity and the protocol treasury.

• Swap fee0.30%

  Charged per swap and paid to liquidity providers in that pool.

• Vault performance fee10% of yield

  Taken only on profit generated by the strategy, never on principal.

• Borrow interestVariable APR

  Set by each market’s utilization — higher demand raises the borrow rate.

• Deposit / withdraw0%

  No fee to add or remove liquidity, supply, or repay.

Key terms used throughout the protocol, in one line each.

TVL

Total Value Locked — the dollar value of all assets deposited across pools, lending markets, and vaults.

APR vs APY

APR is the simple annual rate; APY includes the effect of compounding, so for auto-compounding products APY is higher.

Slippage

The difference between the quoted price and the executed price, caused by the pool moving between quote and settlement.

Price impact

How much your own trade moves the pool price — larger trades against shallow liquidity have higher impact.

Impermanent loss

The value gap an LP experiences versus simply holding the tokens, when the pool ratio diverges from the entry ratio.

Health factor

A ratio of risk-adjusted collateral to borrowed value. At or below 1.0 a position becomes eligible for liquidation.

Collateral factor

The fraction of an asset’s value that can be borrowed against it — e.g. an 80% factor lets $100 of collateral back $80 of debt.

LP share

A token representing your proportional ownership of a liquidity pool and its accrued trading fees.