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Overview

Multiswap is not just another AMM. It is a new DeFi primitive designed to replace traditional exchanges and reshape global capital markets. Unlike existing automated market makers (AMMs) that rely on constant product formulas or fragmented liquidity pools, Multiswap introduces a first-principles approach to on-chain trading, liquidity management, and asset allocation.

Developed by CavalRe, Multiswap is engineered with institutional-grade financial principles, advanced numerical models, and modular architecture, enabling capital efficiency, dynamic market structures, and deep liquidity without fragmentation.

A Unified Ecosystem: Three Core Products​

Multiswap introduces three core products that work seamlessly together to create a coherent incentive-aligned experience for traders, liquidity providers and CAV holders alike:

1. Multiswap (DEX)​

At the core of the ecosystem, Multiswap enables capital efficient, low-slippage trading of unlimited assets in a single pool. By supporting dynamic weights and post-trade price execution, it provides deep liquidity while protecting LP wealth. The unified liquidity model activated all trading pairs automatically with no fragmentation of liquidity.

2. Staking Rewards (Dual Governance)​

Our new staking reward model is designed to combat mercenary farmers and ensure fair distribution of protocol rewards to active loyal participants. For Multiswap, we've adopted the staking reward model to create an innovative dual goernance model, where liquidity providers (LPs) and CAV token holders have distinct roles.

  • LPs stake LP tokens to pool assets to control target weights, directly influencing liquidity distribution, while earning real yield in that asset.
  • CAV holders stake CAV tokens to pool assets to control reward distributions and earn yield in CAV.

Aligning incentives between liquidity providers and CAV holders fostering sustainable participation.

3. Launchpad​

Designed for new token launches, the Launchpad integrates seamlessly with Multiswap to provide a fair and transparent mechanism for bootstrapping liquidity. The surplus-based model ensures that early buyers contribute to the ecosystem without artificial inflation, allowing new tokens to transition smoothly into organic trading within the Multiswap pool.

What Makes Multiswap Different?​

  • A New Primitive: Moves beyond the constant product curve to eliminate value leakage for LPs.
  • Dynamic Weights: Enables extremely capital-efficient trades for both stablecoins and volative tokens in the same pool.
  • Unified Liquidity: Supports an unlimited number of tokens in one pool, activating all possible trading pairs and eliminating liquidity fragmentation.
  • Surplus-Based Launchpad: A new way to distribute tokens that prevents distortions and enables fair price discovery, while organically growing a teams treasury.
  • Beyond Spot Markets: Lays the foundation for fixed income and derivatives, which are the bedrock for all onchain capital markets.

The Future of DeFi Starts Here​

Multiswap isn’t just an improvement—it’s a fundamental shift in DeFi. By combining innovative trading mechanics with governance and launch infrastructure, Multiswap is positioned as a complete DeFi ecosystem for both traders and token projects. The future of global finance starts on-chain—and it starts with Multiswap.