SaucerSwap is the leading decentralized exchange protocol on the Hedera network, implemented as a set of non-upgradable smart contracts focused on censorship resistance, security, and self-custody.

SaucerSwap leverages the Hedera Token Service (HTS) for its rapid throughput and low-cost, U.S. dollar-denominated fee structure. Hedera's architecture ensures fair transaction ordering on SaucerSwap. This nullifies the possibility of MEV attacks seen in Ethereum-based protocols like Uniswap.

The protocol has two iterations: SaucerSwap V1 operates as a constant product AMM, while V2 introduces concentrated liquidity for better capital efficiency.