DEXes · Review
ActiveOolongSwap Review 2026: Boba Network's Native AMM DEX
OolongSwap is an automated market maker built on Boba Network that combines token swaps, farming and auto-compounding OLO staking. Its liquidity is small, so it suits users already active on Boba rather than traders who need deep markets.
By the DappsAtlas editorial team · Updated
DappsAtlas score
5.5/10
Mixed
Our verdict on OolongSwap
5.5/10OolongSwap is a small, Boba-native AMM with farming and auto-compounding OLO staking. It suits users already on Boba who want a local place to swap and earn yield, and who are comfortable with a low-liquidity protocol. Its strengths are the YOLO staking design and its early position on the network. The caveats are thin liquidity of roughly $328,000, a single-chain dependency and little published detail on fees, team and audit reports.
Score breakdown
How OolongSwap scores
- Security
- 5.0/10
- Ease of use
- 6.0/10
- 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 OolongSwap?
OolongSwap is a decentralized exchange on Boba Network, an Ethereum layer-2. Its homepage calls it the first native DEX on Boba, and DeFiLlama describes it as the network's liquidity hub. It has been tracked since November 2021.
Beyond swaps it offers liquidity pools, Oolong Farm contracts (with a second farm version) and a staking system. The native token is OLO, and LP positions are represented by OLP tokens.
The project says it wants to be more than a standard AMM and highlights Protocol Controlled Value. In practice it is a small protocol: total value locked is about $328,000, and activity depends on Boba Network. The homepage publishes little about the team, fees or audit reports.
How OolongSwap works
OolongSwap is an automated market maker. Instead of matching buyers and sellers, it holds pools of two tokens. Traders swap against a pool, and the price moves with the ratio of tokens in it. Liquidity providers add both tokens and receive OLP tokens as proof of their share.
Those LP tokens can be placed in the Oolong Farm contracts to earn OLO rewards. The staking system works differently: staking OLO gives you YOLO, which compounds rewards automatically, so your claim on the staked pool grows over time.
The project also promotes Protocol Controlled Value (PCV). The idea is that the protocol owns part of its own liquidity instead of relying only on rented liquidity from farmers. The homepage gives no detailed mechanics, so users should read the app and contract details before relying on it.
6 features
Key features
01
AMM token swaps
Users swap tokens against liquidity pools on Boba Network using the standard AMM model, with no order book.
02
Liquidity pools
Liquidity providers deposit token pairs and receive OLP LP tokens, which represent their pool share.
03
Yield farming
LP tokens can be placed in Oolong Farm contracts, and a second farm version also exists, to earn OLO rewards.
04
YOLO auto-compound staking
Staking OLO converts it into YOLO, a position that compounds rewards automatically so users do not need to reinvest by hand.
05
Protocol Controlled Value
The project describes itself as pioneering Protocol Controlled Value, where the protocol holds and manages its own liquidity.
06
Native to Boba Network
It positions itself as the first native DEX on Boba Network, so it sits close to the core assets and apps on that layer-2.
Pros and cons
What we like
- Native to Boba Network, so it fits users already holding assets on that layer-2.
- Auto-compounding YOLO staking removes the need to claim and restake rewards manually.
- Supports both token swaps and farming with OLP LP tokens in one app.
- Two audits are listed for the protocol.
- Has been live since 2021, so it has a multi-year on-chain history.
Watch out for
- Total value locked is only about $328,000, so liquidity is thin and large trades may see heavy price impact.
- It runs only on Boba Network, so its activity depends on that one chain's health and user base.
- The project does not publish swap fee rates, team details or audit reports on its homepage.
- The Protocol Controlled Value model and the YOLO staking wrapper add layers of smart-contract risk beyond a plain AMM.
- The OLO token trades at very low volume, so exiting a position can be difficult.
OolongSwap fees
OolongSwap does not publish swap fee rates, farm reward terms or staking fees on its homepage. Fee details are shown inside the app when you swap, add liquidity or stake.
As on any AMM, expect three types of cost: the pool trading fee, price impact (larger in small pools), and Boba Network gas fees. With total value locked of roughly $328,000, price impact is likely the biggest cost for bigger trades.
Is OolongSwap safe?
DeFiLlama lists two audits for OolongSwap, but the project does not publish the reports or auditor names on its homepage. An audit lowers risk but does not remove it, and the farm, staking wrapper and PCV mechanics all add contract complexity.
The protocol is non-custodial: you keep your tokens in your own wallet and interact through smart contracts. The main risks are contract bugs, impermanent loss for liquidity providers, thin liquidity and dependence on Boba Network and its bridges. The project does not publish team or regulatory information. Check the contracts and use small amounts first.
6 steps
How to get started with OolongSwap
- 1
Set up an Ethereum-compatible wallet and add Boba Network.
- 2
Bridge ETH or other assets to Boba and keep some ETH for gas.
- 3
Open the OolongSwap app from the official website and connect your wallet.
- 4
Check the pool's liquidity and expected price impact, then try a small swap first.
- 5
If providing liquidity, deposit a token pair to receive OLP tokens and read the farm terms before staking them.
- 6
To use the staking system, stake OLO to receive YOLO, and review how and when you can withdraw.
Who OolongSwap is for
OolongSwap suits DeFi users who already hold assets on Boba Network and want to swap, farm or stake OLO there. It is less suited to traders who need deep liquidity or to newcomers who want a well-documented protocol with published fees and a named team.
OolongSwap FAQs
What is OolongSwap?
OolongSwap is a decentralized exchange (AMM) on Boba Network, an Ethereum layer-2. It describes itself as the first native DEX on Boba and the network's liquidity hub, and it also offers farming and staking.
Which blockchain does OolongSwap use?
OolongSwap runs on Boba Network, an Ethereum layer-2. No other chains are listed for the protocol.
What is YOLO on OolongSwap?
YOLO is the main staking mechanism. When you stake OLO you exchange it for YOLO, which is described as an auto-compounding staking position, so rewards are reinvested instead of claimed manually.
What is the OLO token?
OLO is OolongSwap's own token. It is used in the staking system and in the farms, and it trades at very low volume.
Is OolongSwap safe?
DeFiLlama lists two audits for OolongSwap, but the project's homepage does not publish the reports or the auditors. Even with audits, smart-contract risk remains, so only commit funds you can afford to lose.
What fees does OolongSwap charge?
The project does not publish a fee schedule on its homepage. Swap fees and farm terms are shown in the app at the time of each trade or deposit, along with Boba network gas costs.
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How we checked
Sources
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