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ICPSwap Review 2026: Native DEX on the Internet Computer

ICPSwap is a decentralized exchange built natively on the Internet Computer (ICP), described as the ecosystem's earliest DEX. It has modest TVL and no listed audits, so public sources are limited.

By the DappsAtlas editorial team · Updated Nov 4, 2026

DappsAtlas score

—/10

Not rated

Visit ICPSwap

Our verdict on ICPSwap

ICPSwap suits users already active in the Internet Computer ecosystem who want a native place to swap ICP tokens and take part in DAO services. Its main strength is being described as the earliest native DEX on ICP. The main caveat is the lack of listed audits and unpublished fee details, plus modest TVL of about 3.45 million USD. Do your own research and trade only what you can afford to lose.

Score breakdown

How ICPSwap scores

Security: n/a
Ease of use: n/a
Fees: n/a
Features: 6.0/10

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 ICPSwap?

ICPSwap is a decentralized exchange on the Internet Computer (ICP). DefiLlama describes it as the native and earliest DEX in the ICP ecosystem, offering financial, market and DAO services.

DefiLlama tracks about 3.45 million USD in TVL, with a 7-day change of 0.1%. The project has been listed since July 2023 and has a token with the ticker ICS.

Its homepage available is minimal, so details on products, fees and team come from the DefiLlama description only. No audits are listed.

How ICPSwap works

ICPSwap is a decentralized exchange, which means trades happen through smart contracts rather than an order book run by a company. On the Internet Computer, those contracts run as canisters. Users connect a wallet and swap one token for another directly.

DEXs like this generally rely on liquidity pools, where users deposit pairs of tokens and earn a share of trading fees. Prices are set by the pool's formula as trades change the balance. The project does not specify ICPSwap's exact pool design, so check the project's documentation for details.

Public sources also mention market and DAO services and an ICS token, but do not explain how they work.

4 features

Key features

Native ICP DEX

ICPSwap is described as a decentralized exchange where users swap tokens on the Internet Computer without a centralized custodian.

Financial and market services

DefiLlama says the platform offers financial, market and DAO services beyond basic swaps. The specific products are not detailed publicly.

DAO services

The description mentions DAO services, suggesting governance functions tied to the ecosystem. Details are not published publicly.

ICS token

DefiLlama lists an ICS token associated with the project. Its exact role is not described publicly.

Pros and cons

What we like

Described as the earliest native DEX on the Internet Computer.
Runs natively on ICP rather than as a bridged deployment on another chain.
Stable recent TVL, with a 7-day change of 0.1%.
Offers an ecosystem token (ICS) and DAO services according to DefiLlama.
Non-custodial DEX model, so users keep control of their wallets.

Watch out for

No audits are listed on DefiLlama, so smart-contract review status is unclear from the data.
Limited to the Internet Computer ecosystem, so liquidity depends on ICP-based assets.
TVL of about 3.45 million USD is modest compared with major DEXs on larger chains.
Fee schedule, token utility details and team information are not.
Requires an ICP-compatible wallet, which is an extra step for users new to the ecosystem.

ICPSwap fees

Fees are not published publicly available for this review. Swap fees and any liquidity-provider fees would normally be shown in the app before you confirm a transaction.

On ICP, users may also pay small network-related costs, but public sources give no figures. Check the app and project documentation for current fee tiers.

Is ICPSwap safe?

DefiLlama lists no audits for ICPSwap. Smart-contract risk, including bugs in swap or liquidity logic, therefore cannot be assessed from public sources. Check the project's documentation for audit reports.

As a DEX, ICPSwap does not take custody of funds in the way a centralized exchange does, but liquidity providers face impermanent loss and smart-contract risk. Newer or lower-liquidity tokens carry price and rug-pull risk. No incidents are mentioned publicly, and regulatory status is not stated.

6 steps

How to get started with ICPSwap

1
Set up an Internet Computer-compatible wallet and keep your recovery phrase offline.
2
Acquire ICP or another supported ICP-ecosystem token.
3
Open the official ICPSwap app and connect your wallet.
4
Review the swap pair, price impact and fees shown before confirming.
5
Start with a small test swap to confirm everything works as expected.
6
If providing liquidity, read how pool positions work and the risks of impermanent loss first.

Open ICPSwap

Who ICPSwap is for

ICPSwap is for people already using or exploring the Internet Computer who want to swap ICP-based tokens or provide liquidity. It is less relevant to users who trade mainly on Ethereum or other chains.

ICPSwap FAQs

What is ICPSwap?

ICPSwap is a decentralized exchange on the Internet Computer (ICP) blockchain. DefiLlama describes it as the native and earliest DEX in the ICP ecosystem, offering financial, market and DAO services.

Which blockchain does ICPSwap run on?

DefiLlama lists ICPSwap on the ICP chain only. It is not shown as running on Ethereum or other networks.

Does ICPSwap have a token?

DefiLlama lists a token with the ticker ICS for ICPSwap. The project does not describe its supply, utility or governance rights, so check the project's own documentation.

Has ICPSwap been audited?

DefiLlama lists no audits for ICPSwap. That does not prove the code is unsafe, but readers should look for audit reports from the team and only trade amounts they can afford to lose.

What are the fees on ICPSwap?

Fees are not stated. Swap and liquidity fees would be shown in the app before you confirm a trade or add liquidity.

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