Classic StableSwap

The Classic StableSwap is an implementation of Curve Finance’s AMM on PancakeSwap. It adds linear invariant constant sum curve (x+y=k) on top of the constant product formula (x*y=k) to keep prices more equal as long as the liquidity pool is not extremely unbalanced. As a result, since StableSwaps are restricted to similarly priced assets, impermanent loss is not as much of a concern (except in extreme depeg cases) and the slippage is lower than normal AMM which just uses the constant product formula.

When you conduct a Swap (trade) on the StableSwap you will pay lower trading fees, than the usual 0.25% on normal PancakeSwap AMM. The fee attribution is broken down as follows:

• 50% to the LP as rewards

• 40% to CAKE buyback and burn

• 10% to the PancakeSwap Treasury

Stableswap Fees

Fees for pairs are broken down in the table below:

Stablepair	Trading Fees	LP Rewards	CAKE Buyback	PancakeSwap Treasury
USDT-BUSD	0.01%	0.005%	0.004%	0.001%
USDC-BUSD	0.01%	0.005%	0.004%	0.001%
USDC-USDT	0.01%	0.005%	0.004%	0.001%
HAY-BUSD	0.04%	0.02%	0.016%	0.004%
HAY-USDT	0.04%	0.02%	0.016%	0.004%
axlUSDC-USDT	0.04%	0.02%	0.016%	0.004%
BNBx-WBNB	0.04%	0.02%	0.016%	0.004%
stkBNB-WBNB	0.04%	0.02%	0.016%	0.004%

The Kitchen will gradually roll out StableSwap pairs and revise the fees to test and improve the product further.

Why should I use the StableSwap instead of the normal AMM Swap?

• Swap your stablecoins or other pairs with similar asset prices more efficiently with the same trade steps

• With the StableSwap function, the trading slippage is lower than normal AMM

• The StableSwap trading fees are lower compared to the normal AMM