OasisSwap - Exchange Review

OasisSwap, also known as Oasis DEX, is a privacy-centric, non-custodial exchange operating across the Oasis Network and Arbitrum. It offers permissionless swaps, zero trading fees beyond network gas, limit orders, and a governance token model. It’s built for privacy-first DeFi users - but trading volume and features remain modest.

Privacy-first architecture and non-custody

OasisSwap runs entirely on-chain with no user custody. Trades happen directly via smart contracts, and only network gas is paid - no platform fees on top. That reflects the ethos of privacy-focused decentralization and minimizes third-party risk.

AMM with limit order support

Built as a fork of a core AMM protocol, OasisSwap adds support for limit orders through its own OasisDEX interface. This gives DeFi users more control over execution prices without relying on a separate limit-order DEX.

No trading or withdrawal fees

There are no trading fees - only standard network gas applies. Swap and withdrawal costs are limited to blockchain fees, making trades cost-efficient and transparent.

Governance and security

OasisSwap is community-governed and open-source. Its contracts have undergone audits with no major exploits known so far. Governance is designed to enable token holders to propose upgrades and direct liquidity incentives.

Liquidity and usage - very light

Liquidity remains extremely low. On Arbitrum, daily transactions hover near 4 to 7, with volumes of around 25 to 65 dollars per day. Total value locked is around 16k dollars, split mainly between Arbitrum and Base.

This minimal activity leads to high slippage, poor fills, and manual execution - suitable only for small, patient trades.

UX and tools

The interface is functional but basic - swap windows, limit order setup, simple charts, and wallet connection. Mobile support exists, but there’s no fiat on-ramp, no API, and no educational support for beginners.

Pros and cons

Pros

Privacy-first non-custodial swaps with no fees beyond gas
Smart contract-based limit orders
Open-source, audited contracts and community management
No trading or withdrawal fees outside of gas

Cons

Extremely low liquidity and tiny volume
ASignificant slippage on anything but micro-trades
Basic user interface with minimal features
No fiat on-ramp or onboarding support
Better suited for technical users

Who it fits - and who it doesn’t

Suitable for:

Privacy-conscious DeFi users focused on small-volume trades
Those who want limit order control without intermediaries
Developers or projects experimenting with Oasis Network integrations

Not for:

Traders needing liquidity, speed, or scalability
Beginners wanting user-friendly interfaces or tutorials
Users expecting fiat options, advanced tools, or margin features

Final verdict

OasisSwap offers a niche, privacy-first AMM experience with zero-fee swaps and decentralized control. But its low volume and basic UI limit its audience to deliberate, privacy-minded users working with small amounts.

If you’re seeking liquidity, advanced trading, or a polished user experience, OasisSwap won’t fit. But as a quiet option for secure, low-cost, and private on-chain swaps - it holds its ground in a narrow but distinct lane.