SaucerSwap: Hedera spot pools, V3 order books and SAUCE staking

SaucerSwap combines three generations of spot execution. V1 and V2 use pooled liquidity; V3 uses orders matched by an off-chain engine and settled by a Hedera contract. A V3 balance remains in the trader’s wallet until execution, but that wallet must retain the required tokens and permissions. The order book is not a shared LP deposit with a redeemable pool token.[4]

A V3 limit order requires an expiry. The Post-Only control rejects an order that would immediately cross the book, preserving a maker-only instruction. A market order instead seeks available liquidity within its signed parameters and can fill partly or fail. Check executed amounts before resubmitting; the historical last-trade price is not a firm quote for the entire requested size.[9]

The swap interface compares a complete eligible V3 quote with the best V1/V2 route. It selects one venue, rather than dividing a trade between the book and pools. The AMM route itself may split across paths or traverse up to three pools. V3 must be fresh, fully fillable and at least 0.05% better all-in. A separately enabled AMM backstop inside a V3 order is a different mechanism.[5]

V2 concentrates capital inside a price range, which increases fee exposure there but also increases the chance of becoming inactive when price moves. LARI incentives are assigned automatically to eligible positions and distributed after each two-week epoch. Allocation depends on active liquidity hours and the pool’s reward budget. Holding an NFT alone does not guarantee a payment or a fixed annual return.[3]

Auto-marked V2 pools offer a vault that accepts one token and manages a range position. This shifts rebalancing decisions into the strategy; it does not remove changing inventory or impermanent loss. Manual positions retain user-selected bounds. The vault has its own deposit and withdrawal views, so an automated position should be identified separately from an ordinary V2 NFT when reconciling holdings.[12]

V1 charges 0.30% per swap. V2 offers 0.05%, 0.15%, 0.30% and 1.00% pools. V1 allocates five-sixths of its fee to liquidity providers; V2 uses that split by default, with governance able to change it per pool. These are pool charges, not a complete all-in quote for every interface or routed transaction.[31]

Discounts reduce positive fees; a negative maker fee can receive a larger rebate, subject to the cap of 25% of effective taker fees collected. An unfilled resting order earns nothing. V3 adds no separate interface fee; account-specific written programmes may differ from the public schedule.[6]

For a hypothetical 1,000-unit SAUCE/HBAR fill with a 20% taker discount, the 0.20% baseline produces a 1.6-unit fee and a 0.4-unit maker-rebate ceiling. The listed 0.05% maximum would otherwise be 0.5 units. The funding cap therefore matters even when the trader qualifies for a preferential tier.[40][6]

The protocol pays V3 settlement gas; setup and direct on-chain cancellation can still cost HBAR. Submitting an off-chain order or ordinary cancellation request does not itself require a separate network transaction.[4]

The July calibration proposal specified AMM interface surcharges of 0.25% on web and 0.50% on mobile. Current tutorials do not restate those numerical AMM surcharges, so treat them as proposal figures requiring confirmation in the quote, not a verified universal current tariff.[40]

The swap tutorial separates pool or order-book charges from network costs and shows minimum received, maximum sold and price impact. Its default slippage setting is 0.5%; changing that tolerance changes the execution protection, not the trading fee. For an illustrative 100-token quote, 0.5% permits a 99.5-token minimum before other quote-specific treatment. Inspect the final quote and wallet instruction together.[8]

HBAR pays ordinary Hedera setup and network charges. Funding instructions distinguish a Hedera account ID from an EVM address and note that a sending exchange may require a memo. MoonPay and Banxa are named external fiat gateways, and the web interface has a Buy tab. Payment methods and eligibility depend on the selected provider; a native cash account or bank payout service was not verified.[16]

Current bridging documentation points to Squid/Axelar and Stargate/LayerZero infrastructure. A source-chain token and a similarly labelled Hedera representation need not have the same issuer or redemption route. Check the source, destination, token identifier and received asset before approving a bridge. The transfer introduces dependencies beyond the exchange’s own pools and order matcher.[17]

Hashport independently confirms that its bridge shut permanently on 31 May 2026 at 12:00 UTC, with infrastructure offline and wrapped assets no longer redeemable. It also states that post-closure support and third-party recovery assistance are unavailable. Legacy Hashport wrapping is therefore not a live funding route, even where an old asset or help page remains visible.[39]

An Infinity Pool deposit acquires xSAUCE at the prevailing ratio; later deposits do not reset earlier holders to a one-for-one rate. The mechanism has no intrinsic lock-up schedule, and returns accrue through the conversion rate. Variable protocol revenue drives that rate’s growth. This is exposure to SAUCE and smart-contract performance, not a fixed bank-style interest rate or capital guarantee.[14]

An order signature and a token allowance grant different authority. A standing allowance can remain at its maximum until revoked, while the order specifies a particular trade. Removing an allowance may make an order unfillable, but does not cancel it. If permission is restored later, an old unexpired order may become executable again. Disconnecting a browser is consequently insufficient evidence that trading authority has ended.[10]

V3’s risk notice explicitly identifies dependence on matcher, database, queue, API, market-data and settlement-support systems. A displayed fill, cancellation or terminal status may lag or disagree with authoritative settlement. Self-custody protects against depositing a conventional trading balance with the operator, but it does not guarantee service availability, complete fills or cancellation before a transaction already in progress.[24]

Halborn assessed specified contracts during 4–18 May 2026. Its report lists 27 findings: five solved, sixteen risk accepted and six inapplicable; the accepted set includes one medium-severity issue involving partial-fill order state. Its summary that findings were addressed should not be read as all defects fixed. Later features fall outside its stated scope, and this review did not match the inspected commits to every post-relaunch deployment.[37]

The audit index distinguishes V1, V2, V3, staking and wallet reports, with different reviewers and dates. None of those reports constitutes a customer insurance policy. A verified coverage limit, named insured customer class or reimbursement entitlement was not found in the reviewed material. A contract review also cannot insure the separate bridge, wallet device or off-chain service.[27]

The WHBAR advisory describes a specific exposure: directly using the specialised contract while holding WHBAR, leaving an open allowance and lacking its protective transaction mechanisms. It directs integrations to WhbarHelper for wrapping and unwrapping. This is a material distinction between ordinary supported wrapping and directly approving a contract based only on its familiar token name.[26]

The service terms require users to be at least 18 and comply with applicable legal and sanctions restrictions. They prohibit circumventing restrictions through location-masking tools. Wallet connectivity alone is not proof of eligibility. The reviewed terms do not provide a complete country-by-product permission matrix.[22]

Hedera requires association with an HTS token before an account can receive or hold it; the interface prompts where needed. Asset compatibility also differs by generation: V2 does not support custom-fee tokens, while V1 supports a narrower class of fractional-fee arrangements. An available token symbol should therefore be checked against both the exact identifier and the intended pool.[31]

Official support directs users to Discord tickets and an email link. No staffed hours, guaranteed response time or emergency trade desk were verified. A support request is separate from a signed cancellation or network transaction; the account holder still needs to establish the actual order or settlement state.[20]

Troubleshooting distinguishes insufficient HBAR, token-association problems, allowance failures and execution reverts. A repeated click can be the wrong response when the first transaction has settled but the interface has not caught up. Check the network transaction and balances before retrying. Raising slippage to overcome a revert also permits a worse execution price, so it is not a neutral repair.[19]

Ordinary V3 cancellation is asynchronous. Reconcile any fills that occurred while it was pending before sizing a replacement. The advanced on-chain route, where available, requires the published signed order payload and a network fee. Cancelling only affects the unfilled remainder; it cannot undo an already settled trade.[28][10]

The terms provide a 60-day informal dispute stage before further proceedings and specify Delaware law, subject to stated non-waivable rights. That contractual escalation path is separate from community support and does not create a regulated compensation arrangement.[22]

SaucerSwap Labs, Inc. is the Delaware counterparty. Its terms disclose no SEC, CFTC, FinCEN or state registration in the listed intermediary roles for these services. That statement does not determine which registrations the law requires.[22]

SAUCE and xSAUCE holders vote on protocol matters including rewards, pool creation, treasury and token economics. Voting power uses historical balances, with xSAUCE converted into its SAUCE equivalent; balances inside liquidity pools are excluded. The documented process separates discussion, a proposal vote and a final election. Token ownership is a governance right, not a financial licence for the platform.[32]

For V3, Labs has a disclosed mandate to adjust baseline taker fees within ±50% and minimum orders within one to three times measured settlement breakeven. A market can report OPEN while matching is halted. Current status and effective parameters therefore matter alongside the published baseline table.[7]

The documentation reports more than $6 billion in cumulative volume and over 19 million trades as of July 2026. These provider-reported totals indicate historical protocol usage, not a count of registered or currently active customers, audited volume, or an October turnover ranking. Wallet-based exchange activity does not map directly to a centralised exchange’s sign-up count.[1]

The team page names Peter Campbell and Joseph Bergvinson as co-founders, with operational, marketing and token-economics responsibilities, and lists Markus Bergvinson as CSO with an operations and token-economics remit. Community governance and named development contributors have different roles from the company’s operation of the interface and associated services.[25]

The V3 relaunch cancelled orders on retired books rather than migrating them. Users must place desired orders again and approve the new settlement contract; existing token associations and Permit2 approvals carry over. Since orders were not deposits, there is no migrated order-book cash balance to claim.[7]

The September application release describes a redesigned interface and a separate future phase for HBAR/USD perpetuals, then planned for Q4 2026. The current materials inspected did not establish a live derivatives product. The confirmed spot, liquidity and staking functions should be assessed on their current rules rather than the proposed leverage or liquidity model.[38]

Operator

SaucerSwap Labs, Inc., a Delaware corporation, provides the interface and related services.

Exchange model

Decentralised

Service scope

Hedera spot AMMs and signed-order trading, liquidity provision, SAUCE staking, mobile wallet, external bridging and fiat gateways.

Client types

Retail clients; Professional clients; Institutional clients

Pricing publication

Public and quoted pricing

Other names

SaucerSwap V1; SaucerSwap V2; SaucerSwap V3

Funding scope

Hedera token transfers and external bridges; third-party fiat purchases are available, without a verified native bank-withdrawal service.

Custody and asset handling

Wallet-controlled funds enter pool or staking contracts when deposited. V3 orders use standing allowances and on-chain settlement after off-chain matching.

Client eligibility

Adults meeting legal and sanctions restrictions; wallet possession alone does not establish access eligibility.

Support

Official Discord ticket system and published email link; response hours and guaranteed resolution times were not verified.

Authorisation and registration scope

No independently verified financial-services permission or customer compensation entitlement for this operator.

Exchange metadata checked 20 Oct 2026Source 1Source 4Source 16Source 20Source 22Source 23Source 31Source 36

The dashboard groups wallet tokens, V1 pools and farms, V2 positions and vaults, xSAUCE and LARI. It also exposes order history. Pending V2 fees and farm rewards are separate from spendable wallet tokens and do not automatically compound. Any Hedera account can be inspected read-only without connecting its wallet; watching an address does not confer trading authority over it.[21]

DAO reporting provides transaction-level treasury CSVs, not a personal trading statement. Its July freshness note says the latest file ended on 11 February 2026 and had no fixed publication schedule. No complete personal cost-basis export or guaranteed tax-record retention was verified. Preserve individual settlement, bridge, liquidity and reward records when reconciling activity across products.[35]

SaucerSwap Wallet is available for iOS and Android, with locally generated keys and published swap, stake, portfolio and dApp functions. The recovery phrase must be backed up; losing both it and the device prevents recovery. The listed mobile functions do not establish identical desktop and mobile controls, especially for advanced order types or integrations.[18]

The API permits 5,000 open orders per wallet, deadlines from 30 seconds to 90 days, up to 250 orders per build/save request and 500 per cancellation request. A requested deadline may be shortened by the server, so the returned signed value matters. Limits govern submission validity rather than guaranteeing execution before expiry or immediate cancellation.[33]

V3 API access uses a signed wallet challenge and short-lived JWTs. Account-specific fees, orders and state-changing calls require authentication; the legacy REST API instead uses an API key. Public market-data access is documented as rolling out by network, so clients must check availability. Reading a book, authenticating an account and signing an asset-moving order remain separate steps.[29][36]

Programmatic orders carry minimum received amounts and environment-specific signing domains. OCO links are managed by the server and sit outside the signed on-chain order: the linkage does not atomically guarantee that only one leg can fill. Automated clients need to reconcile order events and settlement after reconnecting instead of treating their last local status as final.[28]

Explore’s Ask feature turns analytical questions into structured queries and chart or table results, with editable query logic and source receipts. Pinned results are stored in the current browser. The release presents this as an analytics function, not delegated trading authority. Separately, the documentation MCP offers search and reading tools without requiring a connected wallet.[38][30]

Unified BrewSaucer allocates purchased SAUCE 40% to xSAUCE, 30% to development, 10% to burning and 20% to protocol-owned liquidity and incentives. This division applies after relevant venue-level allocations. The separate burn of newly minted development-cut tokens must not be double-counted as revenue-funded buybacks. V3 maker rebates are a different fee-funded mechanism from LARI emissions.[15]

The bridge transaction guide distinguishes source gas, destination costs and routing charges, and provides route and delivery tracking. Estimates depend on the route and network conditions. A delayed transfer requires checking the bridge transaction’s own progress and relevant provider support; a successfully submitted source transaction is not proof that the destination asset has arrived.[34]

The privacy policy describes off-chain processing of wallet identifiers, usage and device information alongside service records. Public blockchain activity is therefore only part of the data footprint. Disconnecting a wallet or closing an interface does not remove already published transactions or necessarily delete service records retained for the policy’s stated purposes.[23]