OneSwap makes every effort to become a decentralized and trusted platform. There are no admin controls or shutdowns built into the code of its smart contract, and all modifications and optimization will be decided by the voting results from community governance.
Automated market making (AMM) can calculate the buying and selling price according to the formula, so as to provide continuous quotation for the market. Essentially, AMM is automatic agent and can be realized through smart contracts without human intervention. OneSwap applies the "constant product market maker formula" algorithm in AMM, which characterized in the firm liquidity provision to the market no matter how large the order book is or how small the liquidity pool is.
OneSwap supports on-chain order book. Users can place buy and sell orders at a fixed price. All pending orders are stored in the order book of the blockchain, and the system will conduct transaction matching and settlement in terms of the buying and selling orders. In this way, high security and transparency can be guaranteed. However, all operations like order placing, cancellation, etc. need to be confirmed on the chain, and the transaction speed is affected by the public chain network and the transaction fee paid.