> 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;

![](https://3684049901-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FqX1V3utG037uXsh1ikKI%2Fuploads%2FkZiPmFMbaEohqseUWbcw%2Fimage.png?alt=media\&token=72738c4c-6255-47de-af06-148edb3e4ea8)

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;