Puzzle Swap Fee Calculator
Fee Breakdown
Base AMM Fee: 0.00 WAVES
Protocol Fee: 0.00 WAVES
Total Fee: 0.00 WAVES
You Save: 0.00 WAVES
Net Output: 0.00 WAVES
Fee Percentage: 0.00%
Note: Puzzle Swap charges a base AMM fee of 0.3% and a protocol fee of 0.05%. With PUZZLE staking, the protocol fee is waived.
PUZZLE Token
Native token for governance and fee discounts
Supply: 471,270
Waves Ecosystem
Only supports Waves-native assets
Deep liquidity for Waves tokens
Fee Structure
0.3% AMM + 0.05% Protocol
0% with PUZZLE staking
Puzzle Swap review
TL;DR
- Puzzle Swap is a Waves‑only DEX aggregator that pulls liquidity from Puzzle pools, Swop.fi and Waves.Exchange.
- The native PUZZLE token has a fixed supply of 471,270 and is used for governance and fee discounts.
- Smart Puzzle Aggregator automatically finds the best price across supported pools in a single transaction.
- Pros: deep Waves liquidity, single‑click best‑price routing, low‑fee environment.
- Cons: limited to Waves assets, scarce public security audits, low overall trading volume.
What Is Puzzle Swap?
When you hear Puzzle Swap is a next‑generation automated market maker (AMM) exchange built for the Waves blockchain ecosystem, think of it as a one‑stop shop for swapping Waves‑based tokens without hopping between different sites. The platform works as a decentralized exchange (DEX) aggregator that pulls liquidity from its own pools, Swop.fi and another Waves‑native exchange. By doing that, it can offer traders the best available rate in a single click.
How the Platform Works
The heart of the system is the Puzzle Aggregator, a smart algorithm that scans every connected pool, compares prices, and executes the trade at the optimal price point.
- Connect a Waves‑compatible wallet (e.g., Waves Keeper or the desktop wallet).
- Select the asset you want to sell and the asset you want to receive.
- The aggregator queries Puzzle Swap pools, Swop.fi, and Waves.Exchange in real time.
- It picks the route that gives the highest output after fees.
- The transaction is sent as a single blockchain call, saving you gas and time.
This flow eliminates the manual price‑checking you’d have to do on each separate DEX, which is a huge convenience for active Waves traders.
PUZZLE Token: The Engine Behind the Platform
The native token, PUZZLE, is capped at a total supply of 471,270 and currently the full amount is in circulation. PUZZLE serves two main purposes:
- Governance: Holders can vote on protocol upgrades, fee structures, and new pool additions.
- Fee discounts: Staking PUZZLE reduces the platform’s trading fees, encouraging long‑term participation.
Unlike many multi‑chain tokens, PUZZLE’s utility is restricted to the Waves ecosystem, which makes its price closely tied to Waves‑DeFi activity.
Liquidity, Fees, and Trading Experience
Puzzle Swap’s biggest selling point is its deep liquidity for Waves‑based assets. By aggregating pools from three sources, the platform often offers tighter spreads than a single DEX would.
Fee structure is simple:
- Base AMM fee: 0.3% per swap.
- Additional protocol fee: 0.05% (reduced to 0% for PUZZLE stakers).
Because the aggregator routes trades through the cheapest pool, you usually end up paying less than you would on Swop.fi or Waves.Exchange alone.
Security and Regulatory Transparency
Public security audits for Puzzle Swap are harder to locate. The platform does not publish audit reports on its site, which puts it behind competitors like 1inch, a multi‑chain aggregator that regularly shares audit results. That said, all transactions are recorded on the Waves blockchain, meaning they are traceable for tax reporting. No mandatory KYC is required to start swapping, but large‑volume users may still be asked to verify identity under local AML rules.
How It Stacks Up Against Other Aggregators
Below is a quick side‑by‑side look at Puzzle Swap and two popular alternatives. The table focuses on features that matter most to Waves users.
| Feature | Puzzle Swap | 1inch | Meteora |
|---|---|---|---|
| Supported blockchains | Waves only | Ethereum, BSC, Polygon, Optimism, Arbitrum, Avalanche, … | Waves, Binance Smart Chain |
| Liquidity sources | Puzzle pools, Swop.fi, Waves.Exchange | 1inch Liquidity Protocol, multiple DEXs | Meteora pools, Waves native DEXes |
| Protocol fees | 0.35% (0% for PUZZLE stakers) | 0.5% (varies by route) | 0% (zero protocol fee model) |
| Governance token | PUZZLE | 1INCH | METEO |
| Public security audit | Not publicly disclosed | Audited by CertiK, Hacken | Audit summary available |
If you live and trade exclusively on Waves, Puzzle Swap’s deep‑pool advantage often outweighs the broader reach of 1inch. For multi‑chain traders, 1inch still wins on flexibility.
Pros and Cons
- Pros
- Best‑price routing within the Waves ecosystem.
- Low fee when staking PUZZLE.
- Simple UI - one‑click swap.
- Cons
- Only works with Waves‑compatible assets.
- Lack of publicly available security audit.
- Relatively low trading volume; slippage can increase on large orders.
Who Should Consider Using Puzzle Swap?
If you already hold Waves, WAVES, or other tokens that live on the Waves blockchain, Puzzle Swap is a handy way to get the best rate without hopping between multiple sites. Newcomers who are exploring crypto for the first time might find the limited asset list a bit restrictive, especially if they want to trade Ethereum‑based tokens.
Getting Started: Step‑by‑Step Guide
- Visit puzzleswap.org/trade and click “Connect Wallet”.
- Choose a Waves‑compatible wallet (Waves Keeper, desktop wallet, or mobile app).
- Authorize the connection - the DApp will read your address and token balances.
- Select the token you want to sell and the token you want to receive.
- Review the estimated output. If you hold PUZZLE, toggle the “Apply staking discount” switch.
- Confirm the swap. The transaction will be signed in your wallet and broadcast to the Waves network.
- Check the transaction hash on a Waves explorer to verify completion.
That’s it. The whole process usually takes under a minute, even on a slow internet connection.
Frequently Asked Questions
Is Puzzle Swap a centralized exchange?
No. Puzzle Swap is a decentralized exchange aggregator that runs entirely on the Waves blockchain. It does not hold user funds; trades are executed via smart contracts.
Do I need to complete KYC to trade?
Trading itself does not require KYC. However, if you plan to move large amounts or use any off‑ramp services linked to the platform, local AML regulations may ask for verification.
How does the PUZZLE token reduce fees?
Staking PUZZLE in the platform’s fee‑discount contract removes the 0.05% protocol fee, leaving you with just the 0.3% AMM fee.
Is my transaction traceable for tax purposes?
Yes. Every swap is recorded on the public Waves ledger, so you can export your transaction history and report gains or losses to tax authorities.
Can I use Puzzle Swap on mobile?
Absolutely. The web interface is responsive, and you can connect mobile wallets like Waves Keeper or the Waves mobile app to trade on the go.
Whether you’re a Waves power‑user or just curious about niche DEX aggregators, this review should give you a clear picture of what Puzzle Swap offers, where it shines, and where you might want to look elsewhere.
Cryptocurrency Guides
Michael Wilkinson
July 3, 2025 AT 14:15The fee model is clear: 0.3% AMM plus 0.05% protocol, but staking PUZZLE wipes that extra cost.
Billy Krzemien
July 4, 2025 AT 09:42For anyone testing the Calculator, remember to input your exact WAVES amount and check the “PUZZLE Staking Discount” box if you hold staked PUZZLE. The interface will then show a zero protocol fee, which aligns with the advertised 0% fee for stakers.
april harper
July 5, 2025 AT 05:09In the grand tapestry of decentralized finance, fees are the silent toll‑keepers, whispering the cost of freedom. Yet when PUZZLE steps in, it seems to barter that whisper away, leaving the traveler unburdened…
Clint Barnett
July 6, 2025 AT 00:35Puzzle Swap arrives on the Waves frontier like a flamboyant circus performer, twirling bright banners of low‑fee promises.
Its AMM core, seasoned with a modest 0.3 % spread, already undercuts many rival aggregators that demand a full percent or more.
But the true magnum opus is the PUZZLE staking tier, which, with a flick of your staked balance, erases the 0.05 % protocol levy as if it were never written in the ledger.
Imagine the trader’s heart beating slower, knowing that every hundred WAVES traded saves a precious third of a WAVES to the protocol.
The UI itself is a pastel‑kissed tableau: sliders glide like silk, input fields whisper “just type your amount” and the result pane shines with the calm blue of a sunrise over the Baltic.
Under the hood, the aggregator consults multiple pools, cherry‑picking the deepest liquidity, which is why slippage remains whisper‑thin even on larger volumes.
Liquidity providers on Waves benefit from the native asset focus, funneling dense order books that a cross‑chain beast would envy.
Nonetheless, the exclusivity to Waves‑native tokens means you miss out on the exuberant world of ERC‑20 bridges, a trade‑off some power users will lament.
Security‑wise, Puzzle Swap leans on the proven Waves smart‑contract framework, avoiding the experimental code that sometimes haunts newer DEXes.
The fee calculator, though elegant, currently displays zeros until you hit ‘Calculate’, a minor UX quirk that can confuse first‑timers.
If you happen to hold PUZZLE, staking not only grants fee relief but also hands you a modest slice of governance, letting you vote on future fee structures.
Community feedback loops are active on the Waves Discord, where developers field suggestions about expanding token support.
For arbitrageurs, the sub‑0.4 % total fee opens narrow windows to profit from price differentials across Waves‑centric pools.
Yet, remember that every trade still incurs on‑chain gas costs, which on Waves are typically lower than Ethereum but can spike during network congestion.
Overall, Puzzle Swap feels like a polished, niche‑focused DEX that knows its audience and delivers a fee‑friendly experience without overcomplicating the trader’s journey.
Jacob Anderson
July 6, 2025 AT 20:02Oh great, another DEX that promises zero protocol fees if you ‘stake’ a token – because the only thing missing from DeFi was another loyalty program.
Carl Robertson
July 7, 2025 AT 15:29Watching the fee numbers drop to zero feels like a plot twist in a tragedy where the hero finally discovers a secret weapon-only the hero here is a staked PUZZLE token, and the audience is left wondering why we needed such melodrama to get a simple discount.
John Kinh
July 8, 2025 AT 10:55Zero protocol fee? 😏
Mark Camden
July 9, 2025 AT 06:22It must be emphasized that the removal of the 0.05 % protocol fee is contingent upon the holder maintaining an active PUZZLE staking position, as stipulated in the platform’s fee schedule, and any deviation from this condition will reinstate the full fee structure.
Evie View
July 10, 2025 AT 01:49If you think the 0.3 % AMM fee is a slap in the face, just wait until you see how the system drains your wallet when you forget to stake PUZZLE – it’s a brutal reminder that nothing is truly free.
Kate Roberge
July 10, 2025 AT 21:15Honestly, the fee calculator looks slick, but if you’re not already holding PUZZLE you’re paying the same old 0.35 % total – nothing revolutionary, just a marketing gimmick.
Oreoluwa Towoju
July 11, 2025 AT 16:42Good point – the staking box is the key to unlocking the fee‑free experience.
Jason Brittin
July 12, 2025 AT 12:09Yeah, because we all love another subscription‑style model in crypto 🙄
Amie Wilensky
July 13, 2025 AT 07:35Indeed,; the fees-though minuscule-serve as both a deterrent; and a reminder; that liberty always carries a price,, however subtle it may appear.
MD Razu
July 14, 2025 AT 03:02Oreoluwa’s succinct observation underscores a fundamental truth about decentralized platforms: simplicity often masks layered incentives.
When the interface nudges users toward staking, it is not merely a UI convenience but a strategic alignment of user behavior with network security.
Stakeholders who lock PUZZLE gain influence over fee governance, effectively becoming co‑architects of the fee architecture.
This symbiosis, however, raises the question of accessibility for newcomers who may lack the requisite PUZZLE balance.
Nevertheless, the zero protocol fee for stakers acts as a tangible reward, encouraging deeper participation beyond mere trading.
From a tokenomics perspective, the reduction in fee revenue must be compensated by other mechanisms, such as increased volume or value capture through governance.
The broader ecosystem benefits when liquidity concentrates around incentivized assets, leading to tighter spreads and better price stability.
Critics may argue that this creates a two‑tiered system, yet the alternative-uniform fees for all-could diminish the platform’s competitive edge.
In practice, users who evaluate the fee calculator daily will notice the stark contrast between staked and non‑staked scenarios.
Thus, the staking discount is both a marketing hook and a functional lever that shapes user engagement across the Waves landscape.
Ben Dwyer
July 14, 2025 AT 22:29Indeed, the dramatic fee drop can feel rewarding, but it’s also worth monitoring the liquidity depth to ensure trades execute as expected.
Lindsay Miller
July 15, 2025 AT 17:55Fees can bite, but the staking discount does soften the blow for regular traders.
Katrinka Scribner
July 16, 2025 AT 13:22Wow, that deep dive was amazing! 🎨🚀 The colorful description really paints a vivid picture of how Puzzle Swap works.
VICKIE MALBRUE
July 17, 2025 AT 08:49Staking definitely makes it feel more fair and fun.
Waynne Kilian
July 18, 2025 AT 04:15While sarcasm highlights the fee gimmick, the underlying utility of reduced protocol fees can still be a genuine benefit for power users.
Naomi Snelling
July 18, 2025 AT 23:42Just think – maybe the zero fee is a way to get us to lock up more tokens while the real fees stay hidden elsewhere.
Kate Nicholls
July 19, 2025 AT 19:09That’s a stretch; the fee structure is transparent on the platform and the discount is plainly displayed.
Rajini N
July 20, 2025 AT 14:35Exactly, the calculator shows the numbers clearly – just make sure you’re staking PUZZLE to see the zero protocol fee.