OneSwap, a permissionless automated market maker built on Canton Network, has gone live for public trading, becoming one of the first retail-accessible decentralised exchanges to launch on infrastructure that powers settlement pilots with DTCC, Goldman Sachs, and BNY Mellon.
The protocol is developed by Sats Terminal, a Bitcoin DeFi platform backed by Draper Associates and Coinbase Ventures. OneSwap is Sats Terminal's first Canton-focused consumer product.
Trading launches with two initial pairs: CC/USDCx and CC/CBTC. CBTC is described as the first non-native asset launched on Canton Network, bringing tokenized Bitcoin liquidity to the ecosystem. The protocol charges a 0.3% swap fee, with 75% distributed to liquidity providers and 25% retained by the protocol.
OneSwap supports the CIP-56 token standard and is currently compatible with Console, Loop, Nightly, Send, and Bron wallets, with additional integrations planned.
An early user incentive programme, OneSwap Diamonds, is active at launch. Users earn one Diamond per USDCx-equivalent unit of swap volume, with a 1.5x multiplier currently in effect. The system is intended to reward early and active protocol participants.
"OneSwap is what happens when institutional-grade infrastructure meets permissionless design," said Stan Havryliuk, Founder and CEO of Sats Terminal. "Canton is where the next trillion in tokenized value is going to settle, and OneSwap is how anyone with a wallet gets a seat at that table."
