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NetSwap Review 2026: A Uniswap-Style DEX on Metis

NetSwap is a Uniswap-style decentralized exchange on the Metis Andromeda Layer 2, with swaps, pools, farms and a governance token called NETT. It is small, at roughly $970,000 in TVL, so treat it as a niche venue for Metis users.

Metis

By the DappsAtlas editorial team · Updated Nov 4, 2026

DappsAtlas score

5.8/10

Mixed

Visit NetSwap

Our verdict on NetSwap

5.8/10

NetSwap suits Metis Andromeda users who want a simple AMM for swaps, liquidity provision and farming with the NETT token. Its main strength is a familiar Uniswap-style design with farm and migration guides in the docs. The main caveat is size: TVL near $970,000 and very low reported trading volume mean thin liquidity and higher slippage. Fees are not stated publicly, so check them in the app. Newcomers should start with small amounts and treat it as a niche, higher-risk venue.

Score breakdown

How NetSwap scores

Security: 5.5/10
Ease of use: 7.0/10
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 NetSwap?

NetSwap is a decentralized exchange built for the Metis Andromeda Layer 2 network. DefiLlama files it under DEXs and says it uses the same AMM model as Uniswap. It has been tracked since 29 December 2021 and has a governance token, NETT.

The product covers swapping, liquidity pools and yield farming, including Boost Farms described in its docs. A retrospective post marking its first birthday in December 2022 lists swapping, staking and farming as its main activities.

It is a small venue. DefiLlama shows about $970,177 in TVL, down 6.2% over seven days. A third-party price page lists very low 24-hour NETT volume. Those numbers are a snapshot and may differ from current figures, but they point to thin liquidity.

How NetSwap works

NetSwap is an automated market maker. Instead of matching buyers and sellers, it holds pairs of tokens in smart contract pools. A formula sets the price based on the ratio of the two tokens, and each trade shifts that ratio. DefiLlama says it uses the same model as Uniswap.

Liquidity providers deposit both tokens of a pair into a pool and receive LP tokens. They earn a share of trading activity but can suffer impermanent loss if prices move. NetSwap also has a farm section where LP tokens can be staked for extra rewards, and it offers Boost Farms, which are covered in the docs.

The app runs on Metis Andromeda, an Ethereum Layer 2, so users need to bridge assets to that network. NETT, the governance token, is meant to let holders vote on protocol changes.

6 features

Key features

Uniswap-style token swaps

Users swap tokens against liquidity pools priced by the same AMM model Uniswap uses, with a familiar interface.

Liquidity pools

Users can supply token pairs to pools and earn a share of trading activity, with the usual impermanent loss risk.

Yield farming and Boost Farms

The docs describe a farm section and a guide for migrating LP tokens to Boost Farms, where staked LP positions earn extra rewards.

NETT governance token

NETT is the protocol's governance token. The governance write-up describes votes on protocol changes once governance went live.

Metis onboarding guides

The documentation includes a guide to bridging assets to Metis Andromeda and adding the network to MetaMask.

Stablecoin support at launch

The launch announcement said the network would support stablecoins such as USDT and USDC to welcome new Metis users.

Pros and cons

What we like

Familiar Uniswap-style AMM model and interface, easy for DeFi users to understand
Covers swaps, liquidity pools and farming in one place on Metis Andromeda
Documentation includes guides on bridging to Metis, farming and LP migration
Has been tracked since December 2021, which gives it a multi-year history
DefiLlama lists two audits for the protocol

Watch out for

TVL is under $1 million, so liquidity is thin and larger trades can move prices noticeably
Third-party data shows very low NETT trading volume (about $492 over 24 hours at the time of the listing), which suggests limited activity
Runs only on Metis Andromeda, so users must bridge assets and depend on that network's health
Liquidity provision carries impermanent loss, and farming rewards depend on the NETT token, which is volatile
Homepage and fee details are sparse, so users must check the app and docs themselves

NetSwap fees

NetSwap's swap fee, liquidity provider share and farm reward rates are not published, so this review does not quote figures. The swap interface should show the fee and price impact before you confirm, and the documentation covers pools and farms.

Beyond protocol fees, you will pay network gas on Metis Andromeda and any bridge costs to move assets there. Low liquidity can also raise your effective cost through slippage on larger trades.

Is NetSwap safe?

DefiLlama lists two audits, but the project does not name the auditors, the dates or the findings, so read the audit reports yourself. An audit does not remove smart contract risk. As with any AMM, risks include contract bugs, impermanent loss and token price swings.

NetSwap is non-custodial: you trade from your own wallet and the contracts hold pool funds. You also rely on the Metis Andromeda network and any bridge you use to move assets. The project does not mention hacks or incidents, and they do not describe a regulatory status. Check the rules in your own jurisdiction.

6 steps

How to get started with NetSwap

1
Set up an EVM wallet such as MetaMask and add the Metis Andromeda network, following the steps in the NetSwap docs.
2
Bridge the tokens you want to trade to Metis Andromeda, and keep some METIS for gas.
3
Open the NetSwap app from the official website and connect your wallet.
4
Start with a small swap and check the fee, slippage and price impact before confirming.
5
If you want to provide liquidity, read the pool and farm guides first and understand impermanent loss.
6
Check the current TVL and your own position regularly, and withdraw if conditions change.

Open NetSwap

Who NetSwap is for

NetSwap is for people already active on Metis Andromeda who want a native DEX for swaps, pools and farms, and who are comfortable with small-cap DeFi risks. It is less suited to large traders who need deep liquidity, or to beginners who have not yet used a bridge or an AMM.

NetSwap FAQs

What is NetSwap?

NetSwap is a decentralized exchange on Metis Andromeda, an Ethereum Layer 2. It uses the same automated market maker model as Uniswap, so users swap tokens against liquidity pools instead of an order book.

Which blockchain does NetSwap use?

NetSwap runs on Metis Andromeda. Its documentation includes a guide on bridging tokens to that network and adding it to MetaMask, so you need a compatible wallet and some bridged funds before you can trade.

What is the NETT token for?

NETT is NetSwap's governance token. The project's governance write-up describes plans for token holders to vote on changes to the protocol. The farming docs also refer to liquidity mining emissions, so the token appears to play a role in rewards.

How big is NetSwap and has it been audited?

DefiLlama listed about $970,177 in TVL with a 6.2% fall over seven days. The protocol has been tracked since late December 2021, and its audits are listed as two. The project does not name the auditors or their findings.

What are NetSwap's fees?

Public sources provided do not state the swap fee or how it is split with liquidity providers. Check the fee shown in the app before you confirm a swap, and read the docs for farm and pool details.

Is NetSwap safe to use?

No DEX is risk free. Smart contract bugs, impermanent loss, low liquidity and bridge risk all apply, and NetSwap's small size makes slippage a particular concern. Only use funds you can afford to lose.

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