Liquidity pool

A liquidity pool is the basic building block of an AMM exchange: a contract holding reserves of two assets, open to two kinds of users. Traders swap one asset for the other against the reserves, and liquidity providers deposit both assets to deepen those reserves in exchange for a share of trading fees.

The pool's state is minimal and fully explicit. Two reserve balances determine the current price; a fee setting determines what each swap pays; and the record of provided liquidity determines how fee income is divided. When a trade executes, the input asset enters the reserves, the output asset leaves, and the fee stays behind, slightly enriching every provider's share.

Depth is what separates a usable pool from a nominal one. A pool with thin reserves will quote a price, but any meaningful trade size moves that price substantially. This is why serious market surfaces report reserves and TVL alongside rates, and why OneSwap's catalog only lists routes backed by funded, enabled pools rather than every token pair that could theoretically exist.

The OneSwap trade catalog shows live TVL, fee settings, and recorded swap counts for every funded pool, regenerated every five minutes.