DEXes · Review
HakuSwap Review 2026: Small Avalanche DEX With Farms and a Game
HakuSwap is an Avalanche-based decentralized exchange that pairs AMM swaps with farms, trade mining, NFTs and a play-to-earn game. Its liquidity is very small, so treat it as a niche, high-risk venue.
By the DappsAtlas editorial team · Updated
DappsAtlas score
4.5/10
Weak
Our verdict on HakuSwap
4.5/10HakuSwap suits experienced DeFi users who want to explore a small Avalanche exchange with farms, trade mining and an NFT game. Its main strength is the range of features built around a simple AMM. The main caveat is very thin liquidity of about $29,000 TVL, along with unpublished fees, an unclear team and mostly early-2022 documentation. Treat it as a high-risk, low-liquidity venue and start with small amounts.
Score breakdown
How HakuSwap scores
- Security
- 4.0/10
- Ease of use
- 6.0/10
- Fees
- n/a
- Features
- 5.5/10
Scores run from 0 to 10 and are based only on facts we could verify. Where information was missing we mark the score n/a rather than guess.
What is HakuSwap?
HakuSwap is a decentralized exchange on Avalanche that describes itself as a crypto world to trade, earn and game. It bundles an AMM, NFTs and GameFi features, and it has been tracked since January 2022. Its native token is HAKU.
The project's early material focuses on incentives: trade mining with a 15,000,000 HAKU allocation, farms with high APR for partner tokens, xHAKU pools, and a play-to-earn NFT game. The homepage could not be reviewed here, so details such as fees, team and tokenomics are not confirmed.
Total value locked is about $29,000, with a 7-day change of around 0.6%. That is very small, which limits how much can be traded without heavy price impact. DefiLlama lists two audits.
How HakuSwap works
HakuSwap uses an automated market maker. Liquidity providers deposit pairs of tokens into pools, and traders swap against those pools at prices set by a formula that balances the two sides. Liquidity providers earn a share of trading fees in return.
On top of this, HakuSwap added incentives. Farms let users stake liquidity pool tokens to earn rewards, and xHAKU pools offer staking tied to the native token. Trade mining records swaps made through the HakuSwap router and rewards traders with HAKU from a 15,000,000 HAKU allocation.
The project also described NFT features and a play-to-earn game on Avalanche, The Battle of Haku. These sit alongside the exchange and use the same ecosystem token.
6 features
Key features
01
AMM token swaps
Users swap tokens against liquidity pools rather than an order book, the standard model for DEXes on Avalanche.
02
Yield farms
Liquidity providers can stake pool tokens in farms to earn rewards. Announcements mention high APR farms for partner tokens.
03
Trade mining
Swaps made through the HakuSwap router are recorded, and a reward pool of 15,000,000 HAKU was allocated to trade mining.
04
xHAKU pools
The project introduced xHAKU pools, a staking mechanism tied to its native token.
05
NFT and GameFi
HakuSwap announced The Battle of Haku, a play-to-earn NFT game on Avalanche, alongside NFT features.
06
Onboarding guides
The project published setup guides covering how to start using the exchange, along with Medium and Telegram channels.
Pros and cons
What we like
- Runs on Avalanche, where transaction fees are generally low.
- Combines swaps, farming, staking and a game in one ecosystem.
- Offers trade mining that rewards swaps through its router with HAKU.
- Provides setup guides for new users.
- Two audits are listed on DefiLlama.
Watch out for
- Total value locked is only about $29,000, so liquidity is thin and large swaps can move prices sharply.
- Most of the visible documentation and announcements date from early 2022, so current development activity is unclear.
- Swap fees, farm fee splits and token emission schedules are not stated.
- The HAKU token and xHAKU pools carry the usual price and emissions risk of farm-driven tokens.
- The team behind the project is not named.
- The play-to-earn game adds a second layer of risk, since NFT game economies often fade once rewards drop.
HakuSwap fees
HakuSwap's swap fee, liquidity provider share and farm fee structure are not published. Users would see the exact fee and price impact on the swap screen before confirming a trade.
On top of any protocol fee, every transaction on Avalanche requires AVAX for gas. With very thin liquidity, price impact on larger swaps is likely to be the biggest real cost.
Is HakuSwap safe?
DefiLlama lists two audits for HakuSwap, but the auditors and findings are not given, so users should look for the reports themselves. The exchange is non-custodial in the usual DEX sense: you keep your tokens in your own wallet and interact with smart contracts. That also means contract bugs, token approvals and phishing sites are your risk.
Liquidity is very small at roughly $29,000 TVL, and the project's public announcements date mostly from early 2022. The team, regulatory status and any incident history are not published. Only interact with the app through links from the project's official channels, and risk only what you can afford to lose.
6 steps
How to get started with HakuSwap
- 1
Set up an Avalanche-compatible wallet and fund it with a small amount of AVAX for gas.
- 2
Open the HakuSwap guides and read the setup steps before connecting a wallet.
- 3
Check that the app address matches the one in the project's official channels, such as its Medium or Telegram.
- 4
Start with a small test swap and review the price impact and fee shown before confirming.
- 5
If you consider providing liquidity or farming, read how rewards are paid and understand impermanent loss first.
- 6
Check whether trade mining and the game are still active before relying on any rewards.
Who HakuSwap is for
HakuSwap is for DeFi users already comfortable with Avalanche wallets who want to try a small, incentive-driven DEX and understand the risks of thin liquidity and a native farm token. It is not well suited to larger trades or to anyone seeking an established, deeply liquid exchange.
HakuSwap FAQs
What is HakuSwap?
HakuSwap is a decentralized exchange on the Avalanche network. It combines an automated market maker for token swaps with yield farms, NFTs and a GameFi element, and it has its own token, HAKU.
Which blockchain does HakuSwap use?
It runs on Avalanche. Users need a compatible wallet and AVAX to pay network gas fees.
What is trade mining on HakuSwap?
Trade mining was announced as a way to earn HAKU by swapping through the HakuSwap router. The announcement allocated 15,000,000 HAKU to it, and each router swap is recorded. Check whether the program is still running before relying on it.
Is HakuSwap safe?
DefiLlama lists two audits for the project, but public sources do not say who performed them or what they covered. As with any small DEX, smart contract risk remains, and liquidity is very low at roughly $29,000 in TVL.
Does HakuSwap have a token?
HakuSwap has a native token, HAKU. It was used for trade mining rewards and farming incentives, and an xHAKU staking pool was also introduced.
Does HakuSwap have a game?
Yes. HakuSwap announced a play-to-earn NFT game called The Battle of Haku on Avalanche. Whether it is still active is not clear.
Compare
HakuSwap alternatives
Uniswap V3 is a non-custodial decentralized exchange protocol for token swaps and concentrated liquidity provision across 40+ chains.
Uniswap V4 is the latest Uniswap DEX version with hooks and concentrated liquidity, running on 22 chains for self-custody token swaps and liquidity provision.
Uniswap V2 is a non-custodial automated market maker DEX on 17 chains for token swaps and liquidity provision, with about $938M TVL.
THORChain is a Layer 1 DEX for swapping native assets across blockchains without wrapped tokens or bridges, aimed at self-custody and no-KYC users.
SushiSwap is a multichain decentralized exchange with a swap aggregator, perps, staking and liquidity pools for self-custody DeFi traders.
Balancer V2 is a non-custodial AMM protocol for programmable liquidity pools on Ethereum and eight other EVM chains, aimed at traders and liquidity providers.
Same category
More DEXes
Curve is a decentralized exchange on Ethereum built for low-slippage swaps of stablecoins and similar assets, with CRV governance and a crvUSD stablecoin.
PancakeSwap is a BNB Smart Chain decentralized exchange with swaps, farming, staking and CAKE governance for self-custody DeFi users.
PancakeSwap AMM V3 is a multichain decentralized exchange using concentrated liquidity pools, for traders and liquidity providers, led by BNB Chain.
PancakeSwap V2 is a constant-product AMM DEX mainly on BNB Chain for swapping tokens, providing liquidity and farming CAKE rewards.
Raydium is a decentralized exchange and automated market maker on Solana, built around fast, low-cost swaps and liquidity pools.
QuickSwap is a multichain DEX, started on Polygon, offering swaps, liquidity pools, farms, QUICK staking and perpetuals for self-custody DeFi users.
Same chain
More on Avalanche
Aave V3 is a non-custodial DeFi lending protocol on 21 chains where users earn interest on deposits or borrow against collateral.
OKX is a major centralized crypto exchange for spot and derivatives trading, earn products and a Web3 wallet, with its own OKB token.
LayerZero V2 is a cross-chain messaging protocol and bridge infrastructure for developers and asset issuers, connecting dozens of blockchains.
Morpho Blue is a permissionless lending primitive with about $11.4 billion in TVL on DefiLlama, accessed mainly through curated vaults.
Euler V2 is a modular DeFi lending protocol for lenders, borrowers and market curators, with about $268M TVL across 16 chains.
Across is an intent-based cross-chain bridge and swap protocol for moving tokens between Ethereum, rollups and other chains, with an API for apps.
How we checked
Sources
Last updated . Spotted an error? Tell us and we will correct it.