Swap
Swap through v2 and v3 pools with one quote. Every trade pays a fee to the pool it crosses. Fees earned by staked liquidity go in full to the voters backing that pool, paid in the pool's own tokens.
Crypto and Stock Tokens in one venue
Every listed market settles on Robinhood Chain and plugs into the same flywheel.
Four ways in, one way up
Traders pay fees, liquidity providers earn rewards, and long-term lockers decide where those rewards go.
Provide
Deposit into the pool that fits the pair (stable, volatile, or a v3 range), then stake it in the gauge. Staked liquidity trades its fees for UP emissions, sized by the vote and capped by the fees the pool produces.
Lock
Lock UP for one week to four years and receive veUP, an NFT that carries your voting power. Power scales linearly with the time locked. A permanent lock holds full weight and never counts down.
Vote and earn
Point your veUP at the gauges you want funded before each 7-day epoch flips. Your vote directs the next epoch's UP emissions and earns you that epoch's own fees and incentives, claimable at the flip.
Real numbers, updated live
Totals across up. pools only, not Robinhood Chain as a whole: value locked right now, volume and fees since the first pool opened, and the 7-day epoch they are running in. Read live from the up. pool indexer on Robinhood Chain.
Total value locked
$6.68m
Volume (all time)
$1.85b
Fees (all time)
$3.47m
Current epoch
13
Two ways to provide
Spread liquidity across every price, or concentrate it in a range you pick. Either way the pool can carry a gauge and compete for emissions.
v2 pools
Paired, full-range liquidity in two curves. Volatile pools use a constant product and charge a 0.3% fee, which suits uncorrelated pairs. Stable pools use a curve shaped for assets that should trade near parity, at a lower fee. Deposit both tokens and stake the LP token you get back in the pool’s gauge.
Liquidity spread across every price.
| Pool type | Swap fee |
|---|---|
| Volatile | 0.30% |
| Stable | 0.05% |
v3 pools
Place liquidity inside a price range you choose and earn fees only while the market trades there. A tight range earns more per dollar deposited. A wide one needs less tending. Seven tick spacings cover everything from pegged stables to new listings.
Liquidity focused where trading happens.
| Tick spacing | Base fee |
|---|---|
| 1 | 0.01% |
| 10 | 0.05% |
| 50 | 0.05% |
| 60 | 0.30% |
| 100 | 0.05% |
| 200 | 0.30% |
| 2000 | 1.00% |
Fees that move with the market
Swap fees are read live rather than fixed at deployment. When volatility and volume pick up, a pool’s fee climbs from its base toward its cap. When markets calm, it settles back down and stays cheap for routine flow.
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Read live, every swap
No pool hardcodes its fee. Each swap asks the fee module for the current rate at execution, so pricing policy can change without migrating positions.
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Base to cap with volatility
Every dynamic pool carries a base fee and a fee cap. Turbulence lifts the fee toward the cap, paying liquidity for the risk it is carrying. Calm brings it back to the base, where routine flow is cheap to trade.
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Hard ceilings
The factory accepts nothing above 10% from any fee module and falls back to the pool's listed rate if a module ever misbehaves. v2 pools keep fixed rates under a 3% hard ceiling.
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Turbulence feeds the flywheel
Fees from staked liquidity flow to voters, and fee value sets gauge caps. A volatile hour pays voters more and lifts the pool's emission ceiling at the next distribution.
One market day
Calm morning, violent noon, calm close. The fee sits at its base while the market drifts and climbs toward the cap while it whips. It comes back down once the storm passes.
The fee rises and falls with the market’s turbulence.
Emissions go where they earn
Gauge caps tie each pool’s emissions to the trading fees it produces. Votes decide the split and fees set the ceiling. Anything past the cap burns instead of diluting the protocol.
Pay for performance
Three pools, one epoch. The busy pool trades enough to clear its ceiling and is paid in full. The steady and idle pools are both voted past what their fees justify, and everything above a dashed line burns.
Anything above a pool’s cap is burned rather than paid out.
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Fees set the ceiling
A gauge can receive at most a governance-set multiple of the WETH value of the trading fees its pool produced. A vote can move emissions toward a pool. It cannot raise that ceiling.
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Excess burns
Emissions voted past the cap are burned, not redistributed. Idle pools cannot drain active markets, and every burned token is supply growth that never happens, so holders never take the dilution it would have caused.
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Rules in the open
A new gauge gets a 7-day grace period before any cap binds. Cap changes are onchain actions, visible before they affect an epoch.
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A dial for growth
Caps scale with fees on their own. A single pool's multiple can be widened when volatility picks up and liquidity needs to lead demand, then tightened again as the market normalizes.
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Measured in value
The caps compare value to value. When UP trades high, the same emission is worth more, meets the caps sooner, and more of it burns. Issuance tightens when dilution would cost holders most and loosens when liquidity needs buying.
The difference from earlier deployments
The first ve(3,3) exchanges paid emissions for votes alone, so voting your own quiet pool was the winning strategy and the token inflated to fund it. Caps close that loop. A vote past what a pool’s fees justify now burns the emissions it wins.
| Earlier ve(3,3) deployments | up. |
|---|---|
| Votes alone set every payout | Trading fees cap every payout |
| Over-voted emissions pay out in full | Over-voted emissions burn |
| Farming a dead pool is profitable | Farming a dead pool wastes the vote |
| Inflation equals the schedule | Inflation runs at or below the schedule |
The case for locking UP
Locking turns UP into veUP, an NFT that votes on where emissions go and collects what the protocol earns. It is built as a public good for Robinhood Chain, with no venture allocation ahead of its users.
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Fee share
Fees from staked liquidity route to voters in full, paid in the tokens each pool earned.
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Incentives
Projects pay voters to send emissions to their pool. Back a gauge and you take a share of that by voting power, on top of the fees.
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Permanent locks
Switch a lock to permanent to hold maximum voting power with no expiry, and switch back to a dated lock whenever you choose.
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No one ahead of you
There is no venture allocation and no early tranche waiting to unlock. Every allocation except the incentive budget and seed liquidity is locked as veUP, and the foundation earns fees beside every other locker rather than selling around them.
Locking 100 UP
Voting power is linear in both amount and duration: veUP = UP × lock time ÷ 4 years.
| Lock duration | Voting power |
|---|---|
| 4 years | 100 veUP |
| 2 years | 50 veUP |
| 1 year | 25 veUP |
| 6 months | 12.5 veUP |
| 1 week | 0.48 veUP |
An airdrop every epoch
The 100,000,000 UP community distribution is not a launch event. It pays out epoch after epoch to the people aligned with the protocol, for as long as the allocation lasts. Qualifying again next week is what earns the next payout.
One snapshot against every epoch
A one-time drop pays for what an address did before the snapshot, and it is gone in days. A drop every epoch keeps paying for staying aligned, week after week, so there is no exit event to farm toward.
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Lockers and voters
Weight to locked positions and epoch vote participation. The people with the longest commitment come first.
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Liquidity providers
Depth in the pools the protocol needs most, rewarded on top of the gauge emissions those pools already earn.
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Traders
Real flow through the protocol's markets. Volume that pays fees counts as alignment.
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Builders and partners
Protocols, wallets, frontends, and communities that route flow to the protocol or build on top of it.
On the shoulders of giants
The core is inherited from the most battle-tested designs in the category. The changes are aimed at the pitfalls those deployments exposed.
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Proven foundations
The ve(3,3) core descends from the Velodrome line and the v3 liquidity engine from Uniswap. Both have cleared years of adversarial use at scale, so up. starts from code the market has already tried to break.
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Where it departs
Where those deployments showed their limits, the design changes. Gauge caps burn emissions that trading cannot justify, and dynamic fees price volatility instead of averaging it. The swap engine and the pool math are untouched.
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Changes that stay in their lane
Every departure ships as a bounded module beside the core, not a rewrite of it. Fee modules answer behind hard ceilings with automatic fallbacks, and cap settings are public onchain actions.
How the modules attach
The departures attach beside the engine, never inside it. Guarded calls, hard ceilings, and automatic fallbacks stand between every module and the core.
New behavior docks as a module. The core itself is unmodified.
Plugged into the tools you already use
Routing, analytics and portfolio tracking, through the services this market already runs on.
