Fictive Reserve Technology
The SmarDex protocol uses the Fictive Reserve algorithm to dynamically manage liquidity, solving the impermanent loss problem and enabling impermanent gain for liquidity providers.
Impermanent GainSwap, pool, and earn on the SmarDex protocol. Fictive Reserve technology, ultra-low fees, multi-chain support.
Everything you need in one unified protocol — swap, pool, stake, and earn across multiple networks.
The SmarDex protocol uses the Fictive Reserve algorithm to dynamically manage liquidity, solving the impermanent loss problem and enabling impermanent gain for liquidity providers.
Impermanent GainProvide liquidity in optimized pools that maximize your fee earnings. SmarDex's unique approach means higher returns per unit of capital deployed compared to traditional AMMs.
Up to 31% APREuler Swap routes your trades through the best available paths to guarantee optimal execution price with minimal price impact on every swap.
0.07% base feeTrade on Ethereum, Arbitrum, Polygon, and BNB Chain — all from a single interface. Access the full SmarDex ecosystem wherever your assets are.
4 NetworksEarn SDEX rewards through trading, liquidity provision, and staking. Protocol fees are distributed back to participants — real yield backed by real volume.
Real YieldStake SDEX to participate in protocol governance. Vote on fee tiers, pool allocations, and protocol upgrades through on-chain proposals.
SDEX GovernanceThe SmarDex protocol is built with institutional-grade security. Open-source smart contracts, multiple audits, no admin keys.
You always retain full control of your assets. All swaps execute through audited on-chain smart contracts — no intermediaries, no trust assumptions.
Protocol upgrades require multi-signature approval with time-locked execution. Community oversight before any changes go live.
All SmarDex smart contracts are published on GitHub under the Business Source License. Fully transparent and verifiable by anyone.
Core swap and AMM logic has been formally verified. The Fictive Reserve algorithm is mathematically proven and documented in the SmarDex whitepaper.
Euler Swap is powered by the SmarDex protocol — an open ecosystem with open-source smart contracts, comprehensive documentation, and developer-friendly architecture.
About Euler Swap, the SmarDex protocol, SDEX token, and how to get started.
Euler Swap is the premier interface for the SmarDex protocol, providing token swapping, liquidity pools, staking, and SDEX yield rewards. It leverages the Fictive Reserve algorithm to optimize prices and enable impermanent gain for liquidity providers. Euler Swap supports multiple networks including Ethereum, Arbitrum, Polygon, and BNB Chain. Available at euler-swap.com.
SmarDex is an advanced automated market maker protocol that uses Fictive Reserve technology to dynamically manage liquidity. SDEX is the native governance and reward token of the SmarDex ecosystem. It can be earned through trading, providing liquidity, and staking on the platform. SDEX is deployed on Ethereum, Polygon, Arbitrum, and BNB Chain.
The Fictive Reserve is a novel algorithm developed by the SmarDex team that uses unique mathematical formulas to dynamically balance swap prices and manage liquidity differently from traditional automated market makers. Instead of suffering from impermanent loss, liquidity providers on SmarDex can achieve impermanent gain — earning more than they would by simply holding. The algorithm is detailed in the published SmarDex whitepaper.
Euler Swap through the SmarDex protocol charges as low as 0.07% on swaps on Ethereum — significantly lower than the standard 0.3% fees on most other platforms. Fees are distributed to liquidity providers and SDEX stakers, ensuring real yield backed by real trading volume. Fee tiers may vary by network and pair.
Euler Swap supports all networks where SmarDex is deployed: Ethereum, Arbitrum, Polygon, and BNB Chain. Users can swap ERC-20 compatible tokens on any of these supported networks. Simply connect your wallet, select the target network, and start trading with ultra-low fees.
Connect your wallet (MetaMask, WalletConnect, or any compatible wallet), select your input and output tokens, enter the amount, review the route and price impact, and click Swap. Euler Swap's smart router finds the best execution path through SmarDex liquidity pools. Transactions on Ethereum typically confirm within seconds.
Yes. The SmarDex protocol has undergone multiple independent security audits. All smart contracts are open-source, published on GitHub under the Business Source License, and formally verified. The protocol operates in a fully non-custodial manner — you always retain full control of your assets. The Fictive Reserve algorithm has been peer-reviewed and documented in an academic whitepaper.
SDEX can be earned in several ways: trading on the platform generates trading rewards; providing liquidity to SmarDex pools earns LP rewards and fee income; staking SDEX yields additional rewards. The SmarDex protocol distributes real yield from actual trading volume — no inflationary emissions. You can view and claim rewards from the Rewards section of the app.
Impermanent gain is the opposite of impermanent loss — liquidity providers earn more than they would by simply holding. SmarDex achieves this through its patented Fictive Reserve algorithm, which dynamically adjusts swap prices and liquidity distribution. This novel approach, detailed in the SmarDex academic whitepaper, has been shown to generate positive returns for liquidity providers even during volatile market conditions.
Navigate to the Pools section, select an existing pool or create a new one, and deposit your token pair. Your liquidity position begins earning swap fees and SDEX rewards immediately. Thanks to the Fictive Reserve technology, SmarDex liquidity providers benefit from impermanent gain rather than suffering impermanent loss. No lock-up period is required.
Euler Swap works with all major EVM-compatible wallets including MetaMask, WalletConnect, Coinbase Wallet, Trust Wallet, Rabby, and Ledger hardware wallets. Simply connect your preferred wallet and select the network you want to trade on. Mobile users can connect via WalletConnect through their wallet's built-in browser.
USDN is a synthetic stablecoin integrated with the SmarDex ecosystem. It offers yield opportunities and can be used within the protocol's liquidity pools. sUSDN is the staked version of USDN, which accrues additional yield. Both are available on Euler Swap for trading and liquidity provision.
While traditional AMMs like Uniswap use the constant product formula (x*y=k) which causes impermanent loss, SmarDex uses the Fictive Reserve algorithm — a fundamentally different approach that dynamically manages liquidity to generate impermanent gain. SmarDex also offers significantly lower fees (0.07% vs 0.3%) and distributes all fee revenue to liquidity providers and stakers.
Full SmarDex documentation is available at docs.smardex.io. The academic whitepaper detailing the Fictive Reserve algorithm is published on Academia.edu. Developer resources and smart contract source code are available on GitHub at github.com/SmarDex-Ecosystem. For Euler Swap specific support, visit euler-swap.com.
Ultra-low fees. Multi-chain support. Impermanent gain. Euler Swap is the SmarDex interface you've been looking for.