A comprehensive walk through on CandySwap

Qitmeer Network
4 min readMar 15, 2024

🚀💰💵CandySwap is a decentralized trading platform built on the Qitmeer Network.

The vast majority of cryptocurrency asset trading occurs on centralized trading platforms, such as Binance and MEXC. These platforms are bound by a single central entity (operating exchange company), and users are required to deposit funds as per the platform’s requirements and use traditional order book systems to facilitate trades.

Order book trading involves buying and selling orders presented on a table with their respective amounts. The volume of an unfinished buy or sell order for an asset is referred to as “market depth”. To facilitate successful trades in this system, a buy order in the order book needs to match with a corresponding sell order, and vice versa.

For example, if you want to sell 10,000 MEER at a price of $0.1 on a centralized trading platform, you need to wait for a buyer to appear who is willing to purchase MEER at this price or a higher price.

The main issue with this system is liquidity, in this context, liquidity refers to the depth and quantity of orders on the order book at any given time. If liquidity is low, it means that traders cannot execute their buy or sell orders.

Looking at liquidity from another perspective, imagine you have your own small stand in a marketplace. If this marketplace is bustling with people constantly buying and selling goods, it can be considered “liquid”. If the market is quiet with only a few transactions, it can be considered a “narrow market”.

What is CandySwap?

🐬CandySwap is a completely different trading platform, fully decentralized, meaning it is not owned or operated by a single entity, but utilizes a new trading model called the Automatic Liquidity Protocol.

In simple terms, CandySwap is a decentralized trading platform on the Qitmeer Network, providing liquidity services for MEER and its on-chain tokens. Its most significant feature is that it doesn’t rely on an order book system, it uses a design known as a constant product market maker, which is a variant of an automated market maker. This ensures efficient order matching while using smart contracts to guarantee the safety and reliability of transactions, free from control by banks, brokers, or any other intermediaries, realizing the vision of decentralized trading.

According to the latest data, CandySwap has achieved remarkable results since the fourth quarter of 2022, with its on-chain trading volume surpassing 200 million USD. CandySwap supports dozens of token trading pairs and offers cross-chain swapping. By using CandySwap, users can gain greater trading flexibility and convenience while avoiding the restrictions and risks that centralized exchanges may pose.

Unique Aspects of CandySwap

No Need for Trust in Third Parties

Users no longer need to trust intermediaries, all transactions are automated through smart contracts, reducing potential risks and opaqueness.

User Control Over Assets

Users have full control over their assets, there’s no need to keep funds on exchanges, enhancing asset security.

No KYC Identity Verification

Users do not need to create accounts or provide personal information, they only need a Qitmeer Network wallet to start trading.

Free Token Listing

By creating a Liquidity Provider (LP) pool on CandySwap and offering liquidity for trading pairs, any token can have a free trading opportunity.

Completing the Economic Model Loop

Liquidity providers offer liquidity and earn trading fees, enhancing the system’s resistance to manipulation and long-term stability, trading users can obtain better prices and efficiency.

Risk warning

🚨When using applications on the Qitmeer network, please be aware of the following potential risks:

  • CandySwap is an application developed and operated by a third-party independent team. As blockchain applications are continually evolving, similar to other on-chain applications, there might be undiscovered potential usage risks.
  • We strongly advise users to independently assess the security risks of this application before starting to use it and to have a clear understanding of the associated risk factors.

However, please note that the ultimate risk analysis and liability is the sole responsibility of the user. Due to the decentralized nature of on-chain operations, users must be cautious.

🧑‍💻CandySwap Website


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Qitmeer Network

Qitmeer Network is the next generation payment network infrastructure based on BlockDAG technology.