> For the complete documentation index, see [llms.txt](https://aiswap2023s-organization.gitbook.io/aiswap-whitepaper/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://aiswap2023s-organization.gitbook.io/aiswap-whitepaper/product-guides/exchange.md).

# Exchange

## Swapping/Trading

AiSwap enables users to trade without relying on a Centralized Exchange. 

All transactions occur directly through users' wallets, ensuring full control over their coins. 

To facilitate token swaps, sufficient liquidity must be available. 

### Liquidity Pools

Users who provide liquidity receive LP Tokens, earning rewards through trading fees, ensuring a smooth exchange experience. 

### Yield Farming

Yield farming allows liquidity providers to earn CAKE rewards by locking their LP tokens in a smart contract, compensating for potential impermanent loss risks.