Kokonut Swap is a next-generation AMM DEX protocol for the Klaytn ecosystem, through which users - or other protocols - can exchange stablecoins with low slippage.

CP-AMM(Constant-product Automated Market Maker) protocols such as KlaySwap are useful for general-purpose liquidity providing and trading. However, when it comes to exchanging assets whose exchange rate is mostly stable - for example, USDT-DAI, KLAY-AKLAY -, their market-making algorithm becomes very inefficient. With CP-AMM Protocols, market takers always suffer from high slippage losses even if there’s a lot of liquidity provided to the pool.