> For the complete documentation index, see [llms.txt](https://daofair.gitbook.io/doc/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://daofair.gitbook.io/doc/master.md). # DAOFAIR Intro ![](/files/-MWtDG3EizQwB-FCfKpG) \ **What is DAOFAIR** DAOFAIR is a decentralized exchange platform powered by the Proactive Market Maker (PMM) algorithm. It features highly capital-efficient liquidity pools that support single-token provision, reduce impermanent loss, and minimize slippage for traders. The trading platform also offers SmartTrade, a decentralized liquidity aggregation service that routes to and compares various liquidity sources to quote the optimal prices between any two tokens. In addition, DAOFAIR removed all roadblocks hindering liquidity pool creation for the issuance of new assets - asset ratios, liquidity depths, fee rates, and other parameters can all be freely customized and configured in real-time. Based on this breakthrough, DAOFAIR has developed Crowdpooling, a permissionless, equal opportunity liquidity offering mechanic, as well as customizable technical solutions geared towards professional on-chain market makers. **Product Description** DAOFAIR’s decentralized exchange product suite consists of SmartTrade trading and aggregation, Crowdpooling/IDO, pools, and mining (which include liquidity mining, trading mining, and combiner harvest mining). It is integrated with various wallet applications through which users can interact with the platform. * **SmartTrade trading and aggregation:** The SmartTrade feature intelligently finds the best order routing from aggregated liquidity sources to give traders the best prices. Users who execute trades on DAOFAIR also have the option to participate in trading mining, which rewards traders with DAOFAIR tokens. * **Crowdpooling:** Crowdpooling is an equal opportunity way to distribute tokens and kick-off liquidity markets. Inspired by the call auction mechanism commonplace in securities markets, Crowdpooling ensures that there is no front-running or bot interference. With the added security and assurance provided by a liquidity protection period, users are able to participate in liquidity offering campaigns and be involved in the projects they support with peace of mind. * **Pools:** DAOFAIR gives liquidity providers the flexibility to create and manage their own market making strategies through DAOFAIR Vending Machine and DAOFAIR Private Pool. This is a fully permissionless, non-custodial process and users are empowered to configure pools with various parameters in order to establish liquidity markets with the ideal pricing curves that suit their needs. * **Mining:** In addition to the aforementioned trading mining and the traditional liquidity mining, pool creators and liquidity providers can also get involved by participating in Combiner Harvest mining, which gives DAOFAIR platform users readily available exposure to trending, promising projects that are willing to collaborate with DAOFAIR. Vetted projects can create liquidity pools on DAOFAIR and liquidity providers of these pools will receive DAOFAIR reward tokens. * **pmm:** Proactive Market Maker (PMM) is a new chain market making model. It is different from the non-constant function market maker model, which separates the transaction-to-asset relationship. Parameters such as asset ratio and curve slope can be flexibly set. At the same time, an oracle machine can be introduced to guide prices or price discovery by the market on the chain. It will gather more funds near the market price and provide sufficient liquidity. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter: ``` GET https://daofair.gitbook.io/doc/master.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.