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Swapr V2 Review 2026: DXdao's Adjustable-Fee AMM

Swapr V2 is an automated market maker built by DXdao that lets governance and pool settings adjust trading fees. It runs on Gnosis, Arbitrum and Ethereum, but its liquidity is small.

By the DappsAtlas editorial team · Updated Nov 5, 2026

DappsAtlas score

6.3/10

Mixed

Visit Swapr V2

Our verdict on Swapr V2

6.3/10

Swapr V2 suits DeFi users who like DAO-run infrastructure and want an AMM with adjustable fees on Gnosis, Arbitrum or Ethereum. Its strengths are the DXdao governance model, a multi-chain presence and two listed audits. The main caveat is small liquidity of roughly 331,000 USD in TVL, which can mean noticeable slippage on larger trades. Check pool fees and depth before swapping, and treat liquidity provision as a risk-bearing activity.

Score breakdown

How Swapr V2 scores

Security: 6.5/10
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 Swapr V2?

Swapr V2 is a decentralized exchange built by DXdao. It is described as a governance-enabled automated market maker with adjustable fees, and it is listed on Gnosis, Arbitrum and Ethereum.

The project has its own token, SWPR, and two audits are listed for it. Total value locked is around 331,000 USD, with a small weekly increase of about 1.7 percent, which places it as a small venue rather than a major liquidity hub.

The homepage itself carries little detail, so users who want specifics on fee tiers, governance procedures or audit reports should check the app and the project's community channels.

How Swapr V2 works

Swapr V2 is an automated market maker. Instead of matching buyers and sellers, it holds pools of two tokens. A formula sets the price based on the ratio of the tokens in the pool, and each trade shifts that ratio.

Liquidity providers deposit both tokens into a pool and earn a share of the trading fees. What sets Swapr apart is that fees are adjustable and the protocol is governance-enabled, meaning parameters can be changed through DXdao's governance rather than being fixed in code forever.

Traders connect a wallet, pick a token pair and sign a transaction. The swap settles on-chain and funds stay in the user's wallet except during the transaction.

6 features

Key features

Automated market maker

Swapr V2 uses liquidity pools rather than an order book, so users trade directly against pooled tokens.

Adjustable fees

Trading fees can be adjusted, giving pools and governance room to set fees to fit different pairs.

DXdao governance

The protocol was created by DXdao and is described as governance-enabled, so changes are meant to be decided by token holders.

Multi-chain deployment

The protocol operates on Gnosis, Arbitrum and Ethereum, letting users choose between low-fee and mainnet environments.

SWPR token

SWPR is the project's own token, tied to the protocol's governance and incentives.

Listed audits

Two audits are listed for the project.

Pros and cons

What we like

Built by DXdao, an established DAO, with governance as a core design idea
Adjustable fees allow pools to be tuned for different pairs
Available on Gnosis, Arbitrum and Ethereum
Two audits are listed for the project
Non-custodial swaps from the user's own wallet

Watch out for

TVL of about 331,000 USD is small, so liquidity is thin and larger trades may see heavy price impact
Adjustable fees mean the cost of a swap differs from pool to pool and must be checked each time
The official site is reached through an ENS gateway address, which some users find less convenient than a standard domain
Public documentation of audits, team and roadmap is not included on the homepage
As with any AMM, liquidity providers face impermanent loss and smart-contract risk
Activity is split across three networks, which can spread liquidity thin

Swapr V2 fees

Swapr V2 describes its fees as adjustable, so there is no single flat rate. The homepage does not publish a fee schedule, so users would see the fee for a given pool in the swap interface before confirming a trade.

On top of trading fees, every swap costs network gas on Gnosis, Arbitrum or Ethereum. Gas is typically lowest on Gnosis and Arbitrum and highest on Ethereum mainnet. Slippage on thin pools can also add to the effective cost.

Is Swapr V2 safe?

Two audits are listed for Swapr V2, but the homepage does not name the auditors or link the reports, so readers should look for them directly before depositing significant funds. Swaps are non-custodial, so funds are not held by a company, but smart-contract bugs remain a risk, as with any AMM.

Liquidity providers also face impermanent loss. Because liquidity is small, price impact and manipulation risk are higher than on large venues. Regulatory status is not described, and users are responsible for checking the rules where they live.

6 steps

How to get started with Swapr V2

1
Install a wallet that supports Ethereum-compatible networks and fund it with a small amount of gas token.
2
Open the official Swapr site and connect the wallet.
3
Select the network you want to use: Gnosis, Arbitrum or Ethereum.
4
Choose the pair to swap, enter the amount and review the quoted price, fee and slippage.
5
Approve the token if prompted, then confirm the swap in your wallet.
6
To provide liquidity, pick a pool, deposit both tokens and understand impermanent loss first.

Open Swapr V2

Who Swapr V2 is for

Swapr V2 is for DeFi users who value governance-led protocols and want a small, DAO-backed AMM on Gnosis, Arbitrum or Ethereum. It suits people making modest swaps who are comfortable checking pool depth and fees themselves. Those needing deep liquidity for large trades will likely prefer bigger venues.

Swapr V2 FAQs

What is Swapr V2?

Swapr V2 is a decentralized exchange built on an automated market maker model. It was made by DXdao and is described as governance-enabled with adjustable fees.

Which networks does Swapr V2 support?

Swapr V2 is listed on Gnosis, Arbitrum and Ethereum. You need a compatible wallet and a small amount of the network's gas token to trade.

Does Swapr have a token?

Swapr has its own token, SWPR. It is associated with governance of the protocol, though the exact voting and reward mechanics are not described on the homepage.

What are the fees on Swapr V2?

Fees are adjustable rather than fixed, so they can differ by pool. The exact figures are not published on the homepage; they appear in the app when you select a pair.

Is Swapr V2 safe?

Two audits are listed for the project, which is a positive sign. Still, an audit does not remove risk, and liquidity providers can lose money to impermanent loss or contract bugs.

How much liquidity does Swapr V2 have?

Total value locked is roughly 331,000 USD, which is modest compared with the largest DEXes. Small pools mean larger trades can move the price noticeably.

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