# Capybara Exchange

> #1 Decentralized Exchange & Perp DEX & mini-games on Kaia Chain

Capybara Exchange is a decentralized exchange and launchpad on Kaia, using a coverage-ratio-based stableswap for single-sided liquidity with minimal impermanent loss.

Capybara Exchange is a DeFi suite on Kaia built on Wombat Exchange technology. It uses a coverage-ratio-based stableswap mechanism to enable single-sided liquidity provision, minimizing impermanent loss and slippage across asset pools. The platform serves Kaia ecosystem users seeking capital-efficient swaps, token launches via IDO, leveraged trading through Capy Perp, and community engagement through raffle and Capy Go mini-games. It was the first launchpad and decentralized exchange deployed on Kaia and received an inaugural $2M+ grant from the Kaia Foundation.

- Type: Project
- Sector: Finance
- Status: Active
- Founded: 2024-03-01
- Profile: https://thegrid.id/profiles/capybara_exchange

## Products

- [CapybaraDEX](https://thegrid.id/profiles/capybara_exchange): CapybaraDEX is a decentralized exchange on Kaia that uses a coverage-ratio-based stableswap algorithm derived from Wombat Exchange technology. It enables single-sided liquidity provision across asset pools, minimizing impermanent loss and slippage. Users can swap tokens, provide liquidity to earn fees, and participate in a fee-sharing mechanism. Additional on-platform features include Capy Perp (perpetual trading), on-chain raffle, and the Capy Go mini-game. (Decentralised Exchange, Live, Main Product)
- [Capybara Launchpad](https://thegrid.id/profiles/capybara_exchange): Capybara Launchpad is the first IDO platform on Kaia, enabling new projects to conduct token launches and connect with the Kaia ecosystem community. It removes scalability barriers for emerging protocols by providing a direct distribution channel between new Kaia chain projects and global users. (Launch Pad, Live)

## Assets

- [Capybara Token (CAPY)](https://thegrid.id/profiles/capybara_exchange): CAPY is the utility token of Capybara Exchange, the first decentralized exchange and launchpad on Kaia. It is used for fee-sharing rewards distributed to liquidity providers and for participation in the protocol's points-based incentive system. CAPY aligns community incentives with protocol growth on Kaia. (Utility)

## Links

- [Main](https://capybara.exchange)
- [Documentation](https://docs.capybara.exchange)
- [Terms of Service](https://docs.capybara.exchange/english/resources/terms-and-conditions)
- [Whitepaper](https://docs.wombat.exchange/resources/whitepapers)
- [Media Kit/branding](https://docs.capybara.exchange/english/resources/brand-assets)
- [Twitter / X](https://x.com/CapybaraDEX)
- [Telegram](https://t.me/CapybaraDEX)

## Legal

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Model 2 - commercial licenses. The Grid Data Service (TGDS) is also available as a commercial license. See [Web Services Terms](https://about.thegrid.id/legal/web-services-terms) for commercial use that is not covered by the open data service.

The following applies to both licensing models.
- All data is provided AS IS with no guarantees of accuracy.
- The Grid does not provide investment, legal, or tax advice, and
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- [Data Licensing & Disclaimers](https://about.thegrid.id/legal/data-licensing-and-disclaimers): Licensing models and disclaimers
- [Open Data (ODbL)](https://about.thegrid.id/legal/open-data): Open Database License terms and scope for The Grid's open data service.
- [Attribution Guidelines](https://about.thegrid.id/legal/open-data-attribution-guidelines): How to attribute The Grid's data when using the open data service.
- [Web Services Terms](https://about.thegrid.id/legal/web-services-terms): commercial Terms for using data services.
- [All Legal Documents](https://about.thegrid.id/legal): Full index of terms, policies, and disclosures

## Optional

- [TGS Field Descriptions](https://github.com/The-Grid-Data/workspace-public/blob/main/references/tgs-field-descriptions.md): Schema field definitions for The Grid's data model
- [TGS JSON Structure](https://github.com/The-Grid-Data/workspace-public/blob/main/references/tgs-json-structure.md): Data model structure and relationships
- [Product Type Definitions](https://github.com/The-Grid-Data/workspace-public/blob/main/references/product-type-definitions.md): Definitions for each product type
- [Product Type Classification](https://github.com/The-Grid-Data/workspace-public/blob/main/references/product-type-classification.md): Guide for classifying products into types
- [Grid MCP Guide](https://github.com/The-Grid-Data/workspace-public/blob/main/grid-search/skills/grid-query/references/grid-mcp-guide.md): How to query The Grid programmatically via MCP