Swaap Maker V2

Swaap Maker V2 receives a B- risk grade (33/100) from Hindenrank, where lower scores indicate lower risk. Moderate risk — innovative oracle-guided AMM with strong theoretical foundation, but novel model risk, heavy oracle dependency, and stalled development since 2024 create meaningful uncertainty about long-term viability. Swaap Maker V2 is a novel DEX protocol deploying the Matrix Market Maker (MMM) — an oracle-guided, stochastic AMM designed to provide market-neutral returns for liquidity providers while minimizing impermanent loss. Operating across Ethereum, Base, and Arbitrum with ~$4.4M TVL, it aims to make LP positions behave like index ETFs with fee income. Active development has stalled since late 2024, and the team released a self-service exit tool in June 2025 to help LPs withdraw, suggesting reduced active maintenance. The B- grade reflects its strong technical documentation and innovative approach, tempered by the inherent risks of novel mathematical models, heavy oracle dependency, and declining development vitality.

The key risks identified for Swaap Maker V2 are: (1) The MMM system heavily depends on accurate oracle price feeds — any oracle manipulation or latency directly undermines the market-neutral protection that distinguishes Swaap from standard AMMs (2) Novel stochastic market-making model has limited production stress testing — while mathematically sophisticated, real-world performance during extreme market events remains unproven (3) Development activity has stalled since late 2024 with no public commits to core repositories; a self-service LP exit tool released June 2025 signals reduced active maintenance of the protocol

Swaap Maker V2 scores 33/100 across eight risk dimensions: Mechanism Novelty: 6/15, Interaction Severity: 6/20, Oracle Surface: 5/10, Documentation Gaps: 2/10, Track Record: 2/15, Scale Exposure: 0/10, Regulatory Risk: 3/10, Vitality Risk: 9/10. The highest risk area is Vitality Risk at 9/10.

Among 112 rated DEX protocols on Hindenrank, Swaap Maker V2 ranks #57 by safety (lowest risk score = safest). Its 33/100 risk score and B- grade place it in the middle tier of DEX protocols.

Swaap Maker V2 scores 2/15 on the Track Record risk dimension, indicating some history of security incidents or exploits. Higher scores reflect more severe or frequent incidents. Review the full risk report for details.