What is AndromedaSwap?

AndromedaSwap is an Automated Market Maker (AMM) Decentralized exchange built upon the Aleph Zero Blockchain with the aim of offering the community a safe and secure means to exchange their assets.
With a robust infrastructure, AndromedaSwap (Launched on the 6th of December 2022) offers a means for liquidity providers to earn by providing liquidity to their most preferred token pairs, while creating an avenue for swaps (trading) between the two tokens; say Token A to Token B and vice versa using a defined formula.

What differentiates AndromedaSwap from a typical market?

Most publicly accessible markets implement a central limit order book exchange model, where buyers and sellers make orders defined by price level that is progressively filled as demand shifts.
AndromedaSwap uses an Automated Market Maker (AMM), sometimes called a Constant Function Market Maker in place of an order book, which implies a liquidity pool of two tokens that are valued relatively based on the volumes in the associated pool they are supplied into.
As one asset is bought or sold against the other, its value changes based on a ratio-based formula so that the next buyer or seller trades them at a different rate, hence introducing a Permissionless system by design.
Permissionless design means that the protocol's services are entirely open for public use, with no ability to selectively restrict who can or cannot use them. Anyone can swap, provide liquidity, or create new markets at will.
This is a departure from traditional financial services, which typically restrict access based on geography, wealth status, and age.
The protocol is also immutable, in other words not upgradeable. No party is able to pause the contracts, reverse trade execution, or otherwise change the behaviour of the protocol in any way.
AndromedaSwap utilizes and supports PSP22 tokens (a token standard created by Supercolony for Substrate chains).