Plain English
ParaSwap is a DEX aggregator on Ethereum, Polygon, BNB Chain, and major L2s. Founded in 2019. Differentiator: positive-slippage refunds — if execution beats the quoted price, the user receives the difference rather than the aggregator keeping it. PSP is the governance token.
How it actually works
Multi-path routing across 30+ DEX sources. Delta plugin enables intent-based swaps similar to UniswapX and 1inch Fusion. The protocol takes a small fee on swaps; positive-slippage rebates flow back to users automatically. Open-source SDK widely integrated by other wallet projects.
What it means for you
ParaSwap is a credible 1inch alternative. The positive-slippage refund mechanism aligns incentives well for users. For HNW swap sizes, run quotes against ParaSwap alongside 1inch and Matcha — the best venue varies by token pair and time of day.
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Educational content only. Not investment, tax, or legal advice.