> For the complete documentation index, see [llms.txt](https://docs.secretswap.net/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.secretswap.net/the-protocol/overview.md).

# Overview

SecretSwap is an automated market maker ([AMM](broken://pages/-MaeEUALTkZ9OCx3IWNZ)) liquidity protocol. There is no order book, no centralized party, and no central facilitator of trade. Built by Secret Contracts, SecretSwap transactions inputs are encrypted - protecting users from front-running attacks and providing an increased level of privacy compared to traditional AMMs.

Each pool within SecretSwap is defined by a secret contract that includes a few functions to enable swapping tokens, adding liquidity and more. At its core each pool uses the function `x*y=k` to maintain a curve along which trades can occur.

The pools keep track of reserves (liquidity) and updates those reserves every single time someone trades. Because the reserves are automatically rebalanced, a SecretSwap pool can always be used to buy or sell a token without requiring a counter-party on the other side of your trade.

* **Note:** Given the requirement to publicly update pool reserves to determine the price, an observer can see a consolidated view of changes (swaps, provide / remove liquidity) in a given block. As a result, if there’s a single transaction with the pool in a given block, it is not possible to have privacy on that transaction. With more transactions per pool in a given block, SecretSwap provides additional privacy to users.

For a more in depth description, check out how SecretSwap works in this [blog post](https://scrt.network/blog/secret-markets-front-running-prevention) outlining the theory behind an AMM using secret contracts.

In order to use SecretSwap, you will need the [Keplr Wallet](https://wallet.keplr.app/) installed on your browser and at a minimum, some `SCRT` to begin swapping.