# Pact > The home of liquidity. Pact is a decentralized trading protocol operating an automated market maker on the Algorand blockchain. It lets users swap tokens and provide liquidity to earn trading fees. Pact is a decentralized trading protocol that operates an automated market maker on the Algorand blockchain. It allows users to swap tokens and supply liquidity to pools without relying on a central order book or intermediary. The protocol is designed for traders and liquidity providers seeking low fees and fast settlement on a proof-of-stake network. Pact addresses the need for permissionless, non-custodial exchange infrastructure within the Algorand ecosystem. Liquidity pools are governed by immutable smart contracts, so pricing and swaps occur algorithmically rather than through matched orders. Liquidity providers deposit paired assets into pools and receive a share of the trading fees generated by swap activity, taking on exposure to impermanent loss in exchange. The protocol's core offering centers on token swaps, liquidity pools with multiple fee tiers, and a smart routing feature that finds efficient paths across pools. Its smart contracts have undergone third-party security audits and a bug bounty program. Pact is used by traders executing swaps and by liquidity providers seeking fee income within the Algorand-based decentralized finance ecosystem. - Type: Protocol - Sector: DeFi - Status: Active - Founded: 2022-02-21 - Profile: https://thegrid.id/profiles/Pact ## Products - [Pact app](https://thegrid.id/profiles/Pact): Pact is a decentralized exchange on the Algorand blockchain that lets users swap tokens and provide liquidity through automated market maker pools. It supports concentrated, traditional constant-product, and stableswap pool types with multiple fee tiers, and routes swaps across multiple Algorand liquidity sources to find better execution. Liquidity providers can stake pool tokens into farms to earn additional rewards, while built-in analytics and portfolio views let users track pool performance and holdings. The platform is transitioning users from earlier contracts to a newer deployment, with a migration window for liquidity providers. (Decentralised Exchange, Live, Main Product) ## Links - [Main](https://www.pact.fi) - [Blog](https://pact.fi/blog) - [Documentation](https://docs.pact.fi) - [Media Kit/branding](https://github.com/pactfi/pact-brand) - [Terms of Service](https://docs.pact.fi/pact/introduction/terms-and-conditions) - [Telegram](https://t.me/pactfi) - [Twitter / X](https://x.com/pact_fi) - [Discord](https://discord.io/pact) - [Medium](https://medium.com/@pact.fi) ## Legal This data is provided under two licensing models. Model 1 - open data. The open data core is licensed under the Open Database License (ODbL) — a copyleft/share-alike license allowing free use, modification, and sharing for any purpose. 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