Stables FX DEX

The Stables FX DEX supports seamless USD stablecoin to USD stablecoin swaps and USD stablecoin to non-USD stablecoin swaps. Market makers, liquidity providers, OTC desks, whales and users can supply liquidity to the Stables FX DEX to ensure competitive wholesale FX spreads.

Hybrid FX DEX Model

Unlike traditional FX markets that rely on centralized intermediaries, the Stables FX DEX leverages a hybrid model that combines automated market makers (AMMs) with RFQ-based execution, enabling deep liquidity, efficient price discovery, and seamless execution for all users—from individuals to institutions.

AMM Model	Pairs	Slippage	Capital efficiency	Target users
Stableswwap	Stable FX pairs	Extremely low	Very high	Retail
Concentrated liquidty	Volatile FX pairs	Low	High	Businesses
RFQ based execution	Insto -size trades	Zero	Highest	Institutions

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Why a Hybrid Model?

A purely AMM-based approach lacks the flexibility and efficiency required for deep-liquidity FX markets, while a fully RFQ-based system limits accessibility. The hybrid model offers the best of both worlds:

• Stableswap AMM enables low-slippage, high-efficiency swaps for stablecoin FX pairs.
• Concentrated Liquidity AMM enables concentrated liquidity for volatile FX pairs via
• Request-for-Quote offers institutional-grade execution for large FX trades.

This structure ensures capital efficiency, deep liquidity, and flexible execution strategies for different user segments.

Onchain FX transaction flow