DEXes · Review
OreoSwap Review 2026: Small Arbitrum AMM With NFT Farming
OreoSwap is a small automated market maker on Arbitrum that combines token swaps, yield farming and NFT farming. Liquidity is very low, no audits are listed and a rebrand note raises questions about its current status.
By the DappsAtlas editorial team · Updated
DappsAtlas score
3.8/10
Weak
Our verdict on OreoSwap
3.8/10OreoSwap suits experienced DeFi users who are curious about a small Arbitrum AMM that ties NFTs into farming and are comfortable with unaudited, low-liquidity contracts. Its main strength is the mix of swaps, yield farming and NFT utility in one place. The main caveat is risk: TVL is only about $66,600, no audits are listed, OREO trades with minimal volume, and a rebrand note means you should verify the current project before depositing anything.
Score breakdown
How OreoSwap scores
- Security
- 3.0/10
- Ease of use
- 5.0/10
- Fees
- n/a
- Features
- 5.0/10
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 OreoSwap?
OreoSwap is a decentralized exchange on the Arbitrum network. DefiLlama describes it as a DeFi platform with both an AMM and integrated NFT farming, and it has been listed since December 2022.
The homepage pitches automated, instant solutions, yield farming that pays the OREO token, low swap fees and an NFT utility aimed at the web3 community. Public reporting also show an IFO page, which currently reports no live offerings.
The protocol is small. DefiLlama shows total value locked of about $66,600, with a 3.9% rise over seven days, and market pages show OREO trading at a fraction of a cent with very little daily volume. One third-party token page also says OreoSwap was rebranded as MallowSwap with a new contract address, so anyone interested should verify what is currently live.
How OreoSwap works
OreoSwap is an automated market maker. Instead of matching buyers and sellers, it holds pools of two tokens. A swap changes the ratio in the pool, and that ratio sets the price. A fee on each swap goes to the people who supplied the liquidity.
Liquidity providers deposit pairs of tokens and receive LP tokens. According to the project's description, they can stake those in farms to earn OREO, the platform token. This is the yield farming layer, and the rewards are paid in a token whose market is very thin.
OreoSwap also describes an integrated NFT farming feature, where NFTs are tied into the farming system. Its homepage available does not spell out the mechanics, so details such as how NFTs boost or unlock rewards should be checked in the app itself.
6 features
Key features
01
AMM token swaps
Users swap tokens against liquidity pools rather than an order book. Prices are set by the pool ratios.
02
Yield farming
Liquidity providers can stake in farms to earn the OREO token. The homepage promotes this as the main way to get OREO.
03
NFT farming
The protocol integrates NFTs into its farming system. The homepage describes it as an NFT utility for the web3 community.
04
IFO launch page
Public reporting shows an IFO page, which suggests an initial farm offering format for new tokens. It currently shows no live offerings.
05
Arbitrum deployment
Running on Arbitrum means transactions settle on an Ethereum layer 2 with lower gas costs than Ethereum mainnet.
06
Native OREO token
OREO is the protocol's own token. It is listed on a handful of venues, though trading volume is minimal.
Pros and cons
What we like
- Combines a standard AMM with yield farming and an NFT farming feature, which is uncommon among small DEXes
- Runs on Arbitrum, so transaction costs are lower than on Ethereum mainnet
- Has an operating history dating back to December 2022 on DefiLlama
- Has its own OREO token, so yield farming rewards are clearly defined
- Homepage positions the platform around low swap fees
Watch out for
- Total value locked is only about $66,600, so liquidity is thin and larger swaps may suffer heavy price impact
- DefiLlama lists no audits for the protocol
- Trading volume for the OREO token is tiny on the market pages that report it, sometimes only a few dollars a day
- A token contract page says OreoSwap was rebranded as MallowSwap, so the project's current status is unclear
- The team, fee schedule and licensing or legal structure are not published on the homepage
- The NFT farming layer adds extra smart-contract and NFT price risk on top of normal AMM risk
OreoSwap fees
The homepage promises the lowest fees to swap, but the text available does not give a specific swap fee, a liquidity provider share or a farming fee. The project does not publish a fee table on its homepage.
Users would see the exact fee and expected output in the swap interface before confirming. Arbitrum gas costs apply to every transaction, and with low liquidity, price impact can cost more than the fee itself.
Is OreoSwap safe?
DefiLlama lists zero audits for OreoSwap, and its homepage does not link to an audit report or name the team. Users interact with smart contracts directly and keep custody of their wallets, so the main risks are contract bugs, rug-style admin controls and unsound reward tokenomics.
Liquidity is very low, which makes price manipulation and heavy slippage more likely. A third-party token page also reports a rebrand to MallowSwap with a new contract address, so users should verify which contracts are current. The project does not publish licensing or regulatory information. Check the rules that apply to DeFi use where you live.
6 steps
How to get started with OreoSwap
- 1
Confirm the project's current name and contract addresses via the official website and social channels, given the reported rebrand to MallowSwap.
- 2
Set up an Arbitrum-compatible wallet and bridge a small amount of ETH to Arbitrum for gas.
- 3
Open the app, connect the wallet and check pool liquidity before making any swap.
- 4
Start with a small test swap and look at the quoted price impact and fees.
- 5
If you provide liquidity or stake in a farm, read the pool's terms, understand impermanent loss and check how OREO rewards are paid.
- 6
Revoke token approvals you no longer need once you are done.
Who OreoSwap is for
OreoSwap is for experienced DeFi users who like exploring small, early-stage protocols and understand impermanent loss, token emissions and contract risk. It is not suited to beginners, to anyone needing deep liquidity for large trades, or to users who require audited contracts and a clearly identified team.
OreoSwap FAQs
What is OreoSwap?
OreoSwap is a DeFi platform on the Arbitrum network. It offers an automated market maker for swapping tokens, yield farming that pays out the OREO token, and an NFT farming feature.
Which blockchain does OreoSwap run on?
DefiLlama lists OreoSwap on Arbitrum only. Its listing dates from December 2022.
What is the OREO token?
OREO is the platform's own token. The project's marketing says users can earn it through yield farming. Market pages show a price of a fraction of a cent and very low daily volume.
Has OreoSwap been audited?
DefiLlama lists no audits for OreoSwap, and the homepage does not point to any audit report. Treat the contracts as unaudited, and only risk money you can afford to lose.
Did OreoSwap rebrand?
A token contract page reports that OreoSwap was rebranded and is now known as MallowSwap, with a new contract address. Check the official site and the project's social channels for the current name and contract before interacting with any token.
What are the fees on OreoSwap?
The homepage says it offers the lowest fees to swap, but it does not state a specific rate. Swap fees and farm rewards would be shown in the app before you confirm a transaction, along with Arbitrum network gas costs.
Compare
OreoSwap 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.
PancakeSwap AMM V3 is a multichain decentralized exchange using concentrated liquidity pools, for traders and liquidity providers, led by BNB Chain.
Fluid DEX is the trading layer of Instadapp's Fluid protocol, where LP positions can also serve as collateral on a shared liquidity layer.
Clipper is a multi-chain decentralized exchange built for small trades under $10k, with pooled liquidity and SAIL token rewards for 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 V2 is a constant-product AMM DEX mainly on BNB Chain for swapping tokens, providing liquidity and farming CAKE rewards.
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.
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 Arbitrum
Aave V3 is a non-custodial DeFi lending protocol on 21 chains where users earn interest on deposits or borrow against collateral.
DeFi Saver is a non-custodial tool for managing and automating leveraged lending positions across major DeFi protocols on Ethereum and layer-2 networks.
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.
Compound V3 is a lending protocol on Ethereum and nine other chains where users supply a base asset for yield or borrow it against collateral.
How we checked
Sources
Last updated . Spotted an error? Tell us and we will correct it.