Swappi Crypto Exchange Review: Low Fees, Limited Liquidity on Conflux Network

8 August 2025

Swappi isn’t another Uniswap or PancakeSwap. It doesn’t have millions of users or billions in daily volume. But if you’re already on the Conflux Network, it might be the only DEX worth using. Swappi is the first and still the leading decentralized exchange built specifically for Conflux eSpace - an EVM-compatible layer that lets Ethereum tools run on Conflux’s faster, cheaper blockchain. That’s its whole reason for existing.

What Swappi Actually Does

Swappi gives you three things: swap, stake & earn, and win. That’s it. No complex dashboards. No hidden features. Just a clean interface for trading tokens, adding liquidity, and playing a lottery system tied to its native token, PPI.

The swap function works like any AMM (automated market maker). You pick two tokens - say, CFX and USDT - and swap them directly from your wallet. No order books. No middlemen. The price is set by an algorithm based on pool ratios. You pay a tiny fee, and a portion of that fee goes back to liquidity providers.

The stake & earn section lets you lock up your liquidity provider (LP) tokens to farm PPI rewards. For example, if you add CFX and USDT to a pool, you get LP tokens. You can then deposit those LP tokens into a farm and start earning PPI over time. It’s a standard DeFi model - but here, it’s the only way to earn PPI outside of trading.

The “win” feature is where Swappi tries to stand out. Users can buy lottery tickets with PPI tokens. Each ticket gives you a chance to win cash prizes - sometimes thousands of dollars. It’s gamified, risky, and fun. But it’s not a yield farm. It’s a gamble. And like any lottery, most people lose. The odds aren’t published, so you’re playing blind.

Why Swappi Exists: The Conflux Advantage

Swappi only makes sense if you’re already using Conflux. Why? Because transaction fees on Ethereum can hit $10-$50 for a simple swap. On Swappi, they’re under $0.01. That’s not a marketing claim - it’s a technical reality. Conflux uses a unique consensus mechanism called Tree-Graph that allows parallel processing of transactions. That means no congestion. No gas wars. Just fast, cheap swaps.

Swappi doesn’t run on Ethereum. It doesn’t run on BSC. It runs on Conflux eSpace - a side environment that’s fully compatible with Ethereum’s smart contract language (Solidity) and wallets like MetaMask. That’s huge. You don’t need a new wallet. You don’t need to learn new tools. You just connect your existing MetaMask, switch the network to Conflux eSpace, and go.

That’s the real value: access to a blockchain that’s faster and cheaper than Ethereum, without leaving the ecosystem you already know. If you’re tired of paying $20 to swap a token on Uniswap, Swappi is a breath of fresh air.

What Tokens Can You Trade?

Swappi supports a handful of tokens, all tied to the Conflux ecosystem:

• CFX - Conflux’s native token
• USDT - Tether on Conflux eSpace
• WBTC - Wrapped Bitcoin on Conflux
• MULTI - MultiChain’s token
• BNB - Binance Coin (wrapped version)
• PPI - Swappi’s own token

That’s it. No Solana tokens. No Polygon tokens. No meme coins from random chains. If you want to trade something outside this list, you’ll need to bridge it in first - which adds steps and risk.

Compare that to Uniswap, which supports over 10,000 tokens. Swappi is tiny. But it’s focused. And for users who care about low fees and security over variety, that’s fine.

Security: Audited, But Limited Transparency

Swappi claims to be secure. And it has the audit to prove it - Certik, one of the most respected blockchain security firms, has reviewed its smart contracts. That’s a good sign. Most small DEXs skip audits entirely.

Other security features include:

• Open-source code on GitHub
• Contract verification on Conflux Scan
• Multisig wallets for contract control
• Timelock delays for critical changes

That’s a solid setup. No red flags. But here’s the catch: you can’t read the full Certik audit report. It’s not publicly posted. Swappi says it’s been audited. But without seeing the details, you’re trusting them on faith.

Also, the PPI token has a total supply of 488 million - but only 4.6 million are in circulation. That means over 99% of the supply is still locked up. Who controls it? The team? The treasury? No one says. That’s a risk. If those tokens ever flood the market, PPI’s price could crash.

Trading Volume and Liquidity: The Big Problem

Swappi’s biggest weakness isn’t security. It’s liquidity.

As of October 2023, Swappi’s 24-hour trading volume was around $6,150. That’s less than what a single popular meme coin trades in an hour on Uniswap. The entire DeFi ecosystem on Conflux has a total value locked (TVL) of just $18.7 million. For context, Uniswap alone holds over $10 billion.

Why does this matter? Because low liquidity means:

• Slippage - your swap price changes dramatically between click and execution
• Low rewards - if you stake LP tokens, you’re sharing tiny fees with few other users
• Hard to exit - if you want to sell your PPI, there might not’t be enough buyers

Swappi’s PPI token trades at $0.00134 with a market cap of just $650,000. It’s ranked #5,477 on CoinMarketCap. That’s not a bad ranking for a project on a niche chain - but it’s not a project you should treat like Bitcoin or Ethereum.

Who Is Swappi For?

Swappi isn’t for everyone. It’s not for casual traders. It’s not for people looking to get rich quick. It’s not even for most DeFi users.

Swappi is for one specific group: Conflux Network users.

If you’re already holding CFX, using Conflux-based apps, or believe in Conflux’s tech over Ethereum - then Swappi is your natural home. It’s the only DEX built for your chain. It’s low-cost. It’s secure. And it’s the only place to farm PPI.

If you’re not on Conflux? Then Swappi is irrelevant. You’d be better off using Uniswap, PancakeSwap, or Curve. Swappi won’t save you money. It won’t give you better returns. It’s just a different chain - and unless you’re committed to that chain, there’s no reason to use it.

How to Get Started

Using Swappi is simple - if you know what you’re doing.

1. Get a wallet that supports Conflux eSpace (MetaMask works).
2. Add the Conflux eSpace network manually (RPC: https://evm.confluxrpc.com, Chain ID: 1030).
3. Buy CFX or USDT on a centralized exchange like KuCoin or Phemex.
4. Withdraw those tokens to your wallet on the Conflux network.
5. Go to swappi.io and connect your wallet.
6. Start swapping, staking, or buying lottery tickets.

No sign-up. No KYC. No account. Just your wallet and your private keys. That’s DeFi.

But if you’re new to crypto? This is a steep learning curve. You need to understand wallets, networks, gas, bridges, and token approvals. Swappi doesn’t hold your hand. It assumes you know what you’re doing.

The Verdict: Niche Tool, Not a Mainstream Player

Swappi isn’t trying to beat Uniswap. It’s not trying to be the next PancakeSwap. It’s trying to serve one small community: Conflux users.

It succeeds there. The interface is clean. The fees are dirt cheap. The security is solid. And it’s the only DEX on the chain.

But it’s fragile. If Conflux doesn’t grow, Swappi dies. If liquidity doesn’t improve, the rewards vanish. If the PPI token dump happens, users lose money.

Swappi is a tool for a niche audience. It’s not a crypto investment. It’s a utility for people already invested in Conflux. If you’re not one of them? Walk away. There are better exchanges out there.

If you are? Then Swappi is your best - and maybe only - option.