DEXes · Review
ActiveZealousSwap Review 2026: A Young AMM DEX on Kaspa
ZealousSwap is an AMM-based DEX that describes itself as the first on the Kaspa ecosystem, running on Igra and Kasplex. It is an early-stage venue with small liquidity and a short track record.
By the DappsAtlas editorial team · Updated
DappsAtlas score
6.0/10
Mixed
Our verdict on ZealousSwap
6.0/10ZealousSwap suits users already active in the Kaspa ecosystem who want an AMM DEX on Igra or Kasplex and accept early-stage risk. Its main strength is being an early native venue with protocol-owned liquidity, an insurance fund and listed audits. The main caveat is the small scale: TVL is under $300,000, volume is thin, and fees, auditors and team are not clearly published. Treat it as an experimental venue and size positions accordingly.
Score breakdown
How ZealousSwap scores
- Security
- 5.5/10
- Ease of use
- 6.5/10
- Fees
- n/a
- Features
- 6.5/10
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 ZealousSwap?
ZealousSwap is a decentralised exchange that calls itself the first AMM-based DEX on the Kaspa ecosystem. DefiLlama tracks it on the Igra and Kasplex chains, with listing since October 2025.
The project's own token is ZEAL. Search snippets describe an NFT-based fee structure, protocol-owned liquidity and an insurance fund, and mention more than 2.5 million swaps on the Kasplex testnet before launch.
TVL is about $274,756, with a 7-day change of -0.2%. That makes it a small venue. One price tracker shows roughly $6,200 in 24-hour volume on the Igra deployment.
How ZealousSwap works
ZealousSwap is an automated market maker. Instead of matching buyers and sellers, it holds pools of two tokens. A trader swaps against a pool, and the price moves according to a formula based on the ratio of the two tokens in it.
Liquidity providers deposit token pairs into pools and earn a share of trading fees. Farms and the Infinity Pool, mentioned in public reporting, offer additional rewards for staking or locking liquidity.
The project also describes protocol-owned liquidity and an insurance fund. Protocol-owned liquidity means the protocol holds some pool positions itself, and the insurance fund is meant as a backstop. Details of both are not set out on the homepage.
6 features
Key features
01
AMM token swaps
Token swaps are priced by liquidity pools rather than an order book, the standard model for on-chain DEXs.
02
Kaspa ecosystem focus
The project is described as the first AMM-based DEX on Kaspa, targeting users of that ecosystem who want on-chain trading.
03
NFT-based fee structure
Public reporting describes an NFT-based fee structure, though specific mechanics are not detailed on the homepage.
04
Protocol-owned liquidity
Project descriptions cite protocol-owned liquidity, which aims to keep depth in pools without relying only on outside providers.
05
Insurance fund
The project describes an insurance fund intended to add protection, though its size and rules are not published.
06
Infinity Pool and farms
Public reporting mentions an Infinity Pool and farms for earning rewards on deposited liquidity.
Pros and cons
What we like
- Early mover as an AMM DEX in the Kaspa ecosystem
- Two audits are listed in DefiLlama data
- Protocol-owned liquidity and an insurance fund are part of the stated design
- Testnet history, with a reported 2.5 million swaps before launch
- Includes farms and an Infinity Pool for liquidity providers
Watch out for
- Small pool of liquidity, with about $275,000 in TVL, so larger trades may see heavy price impact
- Runs on Kaspa EVM-style layers (Igra and Kasplex) that are young and have limited tooling and liquidity
- Fee levels, audit reports and team details are not published on the homepage
- ZEAL token trades at a low price with thin daily volume, which makes it volatile and illiquid
- Listed only since October 2025, so the track record is short
ZealousSwap fees
Swap fee rates, liquidity provider shares and any fee tiers tied to the NFT-based structure are not published on the homepage. Users would see the exact fee on the swap screen before confirming a trade.
As on any EVM-style network, you also pay gas on Igra or Kasplex for each transaction. Slippage on thin pools can cost more than the nominal fee.
Is ZealousSwap safe?
DefiLlama lists two audits for ZealousSwap, but the homepage does not name the auditors or link reports. The team, licensing and any bug bounty are not published. No hack or incident appears.
The DEX is non-custodial in the usual sense, so you keep your keys, but smart-contract bugs, bridge risk and the immaturity of the underlying networks all apply. The insurance fund is described but its size and payout rules are unknown. Check local rules on crypto trading before using it.
6 steps
How to get started with ZealousSwap
- 1
Set up an EVM-compatible wallet and add the Igra or Kasplex network details from the project's official channels.
- 2
Bridge or acquire the network's gas token and the assets you want to trade.
- 3
Open the ZealousSwap app and connect your wallet.
- 4
Choose a pair, check the quoted price, fee and slippage, then confirm the swap.
- 5
If you add liquidity or farm, read the pool terms and understand impermanent loss first.
- 6
Start with a small amount to confirm the flow works before moving larger sums.
Who ZealousSwap is for
ZealousSwap is for Kaspa ecosystem users who want to swap or farm on Igra or Kasplex and are comfortable with early-stage DeFi risk. It is less suited to large traders who need deep liquidity or users who need clear published audits and team information.
ZealousSwap FAQs
What is ZealousSwap?
ZealousSwap is an automated market maker (AMM) decentralised exchange built for the Kaspa ecosystem. It is described as the first AMM-based DEX there and runs on the Igra and Kasplex networks.
Which chains does ZealousSwap run on?
DefiLlama data lists Igra and Kasplex as the chains. Neither has its own slug in the standard chain list, so they are grouped under other here.
What is the ZEAL token?
ZEAL is the project's own token. Public reporting describes an NFT-based fee structure, protocol-owned liquidity and an insurance fund as parts of the design, but the homepage does not detail how ZEAL is used.
Has ZealousSwap been audited?
DefiLlama lists two audits for the project, but the homepage does not name the auditors or link reports. Read the audit reports yourself before depositing, and remember that an audit does not remove smart-contract risk.
Can I provide liquidity or farm on ZealousSwap?
Public reporting mentions an Infinity Pool and farms, and a testnet guide refers to adding liquidity and farming rewards. Details on reward rates and risks should be checked inside the app.
Is ZealousSwap safe?
The project does not publish a clear risk rating. TVL is small, the underlying networks are new and the team is not named. Only use funds you can afford to lose.
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How we checked
Sources
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