Trades, settled by contract.
How HexaFlow built Paybius Swap: a peer-to-peer decentralised exchange on Binance Smart Chain, where trades execute through smart contracts instead of an order book — and the people who supply the liquidity are rewarded in the platform's own token.
The pool's liquidity providers are rewarded on-chain, in the platform's native token.
Decentralised exchanges on Ethereum work. But transaction cost and settlement time price smaller trades out entirely: when the network fee can exceed the value being swapped, a small trade stops making sense at all.
And on-chain there is a second, harder constraint. A contract bug is permanent and public. Once liquidity is committed there is no patch-and-deploy — whatever the contract does on day one, it does with everyone's funds in it.
Binance Smart Chain was chosen for faster transaction times and lower fees than the Ethereum network. That is not a detail of the stack; it is the product decision that makes smaller trades viable at all.
A qualitative comparison. The page quotes no fee or speed figures.
An order book only trades when two people agree at the same moment. Paybius Swap uses an automated market maker instead: trades execute through smart contracts rather than by matching orders, which removes the need for a counterparty to be present.
Place a sell order for token A and watch where it goes.
Without an order book, something still has to set the price. An AMM takes it from the pool itself: two reserves, and a rule every trade has to respect. The best-known rule — the one modelled here — is the constant product: reserve A times reserve B stays the same, trade after trade.
Put token A in and the pool pays out exactly as much token B as keeps that product unchanged. The pool slides along the curve, and the price moves with it — gently for a small trade, steeply for a large one.
Drag the trade size and watch where the pool ends up. The numbers are a model in abstract units, not market data.
Model, not market data: abstract tokens, unitless reserves, fees left out. The product x · y stays at 10,000 on every trade.
A pool with nothing in it prices nothing. The reserves every trade runs against come from users, and users who provide liquidity earn rewards paid in the platform's native cryptocurrency, on-chain.
A deeper pool sits on a flatter stretch of the curve, so trades move it less.
Next.jsThe exchange itself: the market list, swap and liquidity, in the browser.
LaravelThe server side of the platform, alongside the chain.
Web3Connects the user's wallet to the contracts, to sign trades and deposits.
SolidityPermanent and public once deployed — the layer that has to be right first.
Services: Blockchain & Web3 · Web Application Development
Trading viable at smaller sizes through lower network fees
Trades executed without order books or counterparty matching
Liquidity providers rewarded on-chain
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