Perpetual Stable Swap API
The Perpetual Stable Swap is a programmatic order type that automatically provides liquidity for swapping between two stable tokens at a 1:1 exchange rate. It operates as an automated market maker that dynamically determines which token to sell based on the owner’s current holdings.
Key Parameters
Operational Logic
The getTradeableOrder function executes the following workflow:
- Compares owner balances of both tokens after decimal normalization
- Identifies which token has greater value
- Creates a sell order for the entire balance of the higher-value token
- Applies the spread formula:
- Returns tokens to the owner automatically (
receiver = address(0))
Error Handling
Orders fail with “not funded” messaging when the sell amount equals zero, indicating zero balance in the designated selling token.
Design Considerations
- Orders utilize time-bucketing to prevent orderbook spam
- Remain non-partially-fillable
- Charge zero protocol fees
- The spread parameter prevents order collision unless intentionally set to zero
Last modified on March 12, 2026
