> For the complete documentation index, see [llms.txt](https://docs.swappi.io/swappi/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.swappi.io/swappi/products/exchange/token-swaps.md).

# Token Swaps

Token swaps on Swappi are a simple way to trade one ERC-20 token for another via automated liquidity pools. &#x20;

![](/files/jh3Rb1NpM8DM1fYzELIZ)

When you make a token swap (trade) on the exchange you will pay a .25% trading fee, which is broken down as follows:&#x20;

0.17% - Returned to Liquidity Pools in the form of a fee reward for liquidity providers.&#x20;

0.03% - Sent to the Swappi Treasury.&#x20;

0.05% - Sent towards PPI buyback and burn.&#x20;