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XSwap V2 Review 2026: Small XDC Network AMM DEX

XSwap V2 is an automated market maker DEX for XRC20 tokens on the XDC Network, with farming, staking and launchpad tools. Its liquidity is now small, and the project has moved its focus toward V3.

By the DappsAtlas editorial team · Updated Nov 5, 2026

DappsAtlas score

5.5/10

Mixed

Visit XSwap V2

Our verdict on XSwap V2

5.5/10

XSwap V2 suits users already active on the XDC Network who want a basic AMM for XRC20 tokens, plus staking and farming. Its strengths are a clear 0.3% fee model and a broad toolset that includes a launchpad and lockers. The main caveat is thin liquidity of roughly $67,000 TVL, with the project's attention moving to V3. Expect noticeable price impact on anything but small trades, and treat farming rewards as high risk.

Score breakdown

How XSwap V2 scores

Security: 5.0/10
Ease of use: 6.5/10
Fees: 6.5/10
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 XSwap V2?

XSwap V2 is an automated market maker decentralized exchange built on the XDC Network. It was described as the first AMM DEX on that chain and lets users swap XRC20 tokens, provide liquidity, stake and farm.

Beyond trading, the XSwap ecosystem includes a launchpad with token creation, presale creation, a token and liquidity locker and a multisender. Its native token is XSP.

DeFiLlama has tracked the protocol since October 2022 and reports about $67,000 in total value locked, down 7.2% over seven days. The project also runs a V3 version with concentrated liquidity, and recent promotion points to that version.

How XSwap V2 works

XSwap V2 uses an automated market maker. Instead of matching buyers with sellers, trades happen against pools holding two tokens. A formula sets the price from the pool's balance, so large trades move the price more in small pools.

Liquidity providers deposit both tokens of a pair and receive a share of trading fees. Each trade pays 0.3%, and 0.214% goes to the pool for that pair. Providers face impermanent loss when token prices diverge.

The project also offers staking and farming, where users lock XSP or LP tokens for rewards. A launchpad suite covers token creation, presales, lockers and multisending for XRC20 tokens.

6 features

Key features

AMM token swaps

Swap XRC20 tokens through automated market maker pools instead of an order book.

Liquidity provision

Users can supply token pairs to pools and earn a share of the trading fees paid on that pair.

Staking and yield farming

XSP staking and farming pools offer rewards. One search snippet cites a 13% monthly reward for the first three months of the staking platform, which is an old promotional figure.

Launchpad tools

The ecosystem includes token creation, presale creation and multisender tools for XRC20 tokens.

Token and liquidity locker

Users can lock tokens and liquidity positions, a tool projects use to show commitment to holders.

Token listing requests

The contact page lists a process to list tokens and add logos to a suggested list.

Pros and cons

What we like

Early AMM DEX on the XDC Network with a clear focus on XRC20 tokens
Fee structure is published: 0.3% per trade, 0.214% to liquidity providers
Offers swaps, pools, staking, farming and launchpad tools in one place
Two audits are listed on DeFiLlama
Tracked since 2022, so it has a multi-year operating history

Watch out for

TVL is about $67,000, so liquidity is thin and larger trades may see heavy price impact
Runs only on the XDC Network, which limits reach and liquidity sources
A newer V3 with concentrated liquidity exists, so V2 may lose liquidity over time
The project does not publish team details or audit reports on the pages reviewed
The XSP token trades at a very low price on a small number of markets
Seven-day TVL fell 7.2%, a sign of weak momentum

XSwap V2 fees

Documentation states that each trade pays a 0.3% fee. Of that, 0.214% is added to the liquidity pool of the pair traded, which accrues to liquidity providers.

Network gas fees on XDC are paid on top. Staking and farming terms are not published in the pages reviewed and are shown in the app.

Is XSwap V2 safe?

DeFiLlama lists two audits for the protocol, but the reports and auditor names are not shown in the pages reviewed. The team is not named in them either. The exchange is non-custodial in design, so users keep tokens in their own wallet except while funds sit in pools or staking contracts.

Main risks are smart-contract bugs, impermanent loss, price swings in thin pools and the low liquidity of XSP. With TVL under $70,000, a few large withdrawals could change pool prices sharply. No hack or shutdown is reported in the sources reviewed.

6 steps

How to get started with XSwap V2

1
Set up an XDC-compatible wallet and fund it with a small amount of XDC for gas.
2
Open the XSwap app and connect the wallet.
3
Pick the tokens to swap and check the quoted price impact, as liquidity is thin.
4
Approve the token and confirm the swap in your wallet.
5
To earn fees, add liquidity to a pool and review impermanent loss risk first.
6
Check the farming and staking pages for current reward terms before depositing.

Open XSwap V2

Who XSwap V2 is for

XSwap V2 is for XDC Network users who trade XRC20 tokens, small liquidity providers comfortable with impermanent loss, and token projects that want launchpad, presale or locker tools on XDC. It is a poor fit for large traders who need deep liquidity.

XSwap V2 FAQs

What is XSwap V2?

XSwap V2 is a decentralized exchange on the XDC Network. It uses an automated market maker to swap XRC20 tokens and also offers liquidity pools, staking and yield farming.

Which blockchain does XSwap V2 use?

It runs on the XDC Network, formerly called Xinfin. Swaps involve XRC20 tokens, and XDC is the network's native asset.

What are the trading fees on XSwap V2?

Documentation says each trade pays a 0.3% fee, and 0.214% of the trade amount goes to the liquidity pool of the pair traded. The documentation excerpt reviewed does not break down where the remainder goes.

What is the XSP token?

XSP is the protocol's own token, used in its staking platform and rewards. Its market price is very low and it trades on a small number of markets, so liquidity is limited.

Is XSwap V2 audited?

DeFiLlama lists two audits for the protocol, but the reports are not reproduced in the pages reviewed. Any DEX carries smart-contract risk, so only use funds you can afford to lose.

How is V2 different from V3?

The project also runs XSwap V3, which uses concentrated liquidity and is promoted for capital efficiency. V2 uses the classic constant-product pools spread across the full price range.

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