What Minswap Labs does

Minswap Labs operates Minswap, a multi-pool decentralized exchange (DEX) built on the Cardano blockchain. Founded in 2021, the protocol enables token swapping, liquidity provision, yield farming, and MIN token staking across standard AMM pools, stable pools, and CIP-113 fluid token pools. The platform has processed 19.53B ₳ in cumulative trade volume across 6.75 million successful transactions and holds 157.34M ₳ in total value locked, serving 220,926 active traders as of the data period.

The product surface extends beyond core trading to include a cross-DEX aggregator routing across 18+ Cardano protocols (MuesliSwap, SundaeSwap, VyFinance, WingRiders, Spectrum, and others), a CIP-113 Smart-Token DEX, a Margin Trading beta, the Launch Bowl token issuance platform, and MeowDrop for airdrop distribution. Developer-facing offerings include a REST Aggregator API and a React/HTML Widget SDK (@minswap/aggregator-widget) that partners can embed. Native iOS and Android mobile apps supplement the web interface. Governance is managed by the Minswap DAO, incorporated as a Non-Profit DAO LLC in the Republic of the Marshall Islands, with MIN token holders voting on Minswap Improvement Proposals (MIPs).

The business model is primarily transaction-based. Revenue is generated from swap/trading fees (LP fees, DEX protocol fees, 2.8 ADA batcher fees), a 500 ADA one-time fee for projects setting up Own Token Farms, a 4 ADA MeowDrop claim fee, and protocol revenue directed to MIN stakers via a fee switch mechanism (29.936M MIN has been bought back and burned to date). Minswap serves two main segments: individual Cardano DeFi users seeking trading and yield, and token projects seeking liquidity infrastructure. Distribution is product-led and community-led through Discord, Reddit, Telegram, and governance forums, with strategic integrations including Circle (USDCx), LayerZero (cross-chain), Grant Thornton (audit), and multiple Cardano wallets (Eternl, Flint, NuFi).

Name

Minswap Labs

Legal name

Minswap Labs

Website

https://minswap.org

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

11–50 employees

Short description

Minswap Labs operates a multi-pool decentralized exchange on Cardano enabling token swapping, liquidity provision, yield farming, and MIN staking. It serves individual DeFi users and token projects, with an aggregator routing across 18+ Cardano DEX protocols.

Ownership category

akta.pro rank

Product category

Decentralized Exchange (DeFi)

NAICS

Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518)

SIC

Finance Services (6199)

akta.pro primary industry

Decentralized Exchanges (DEX) & AMMs (FSADAMAB)

akta.pro secondary industries

DEX Aggregators & Smart Order Routing (FSADABAC), Launchpads, IDOs & Token Distribution via DEXs (FSADABAL)

Keywords

• Decentralized exchange
• Cardano defi
• Automated market maker
• Liquidity provision
• Yield farming

Headquarters

HQ city

Bac Giang

HQ country

Vietnam

HQ region

Asia

Markets served

GTM type

B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Infrastructure, Operations, Marketing or Sales

Revenue model

1. Swap/Trading Fees: Users pay fees when executing swaps on the DEX. Fee structure includes LP fees, DEX protocol fees, and batcher fees (2.8 ADA per batch).
2. Farming Program Fees: Projects seeking Own Token Farms pay a one-time fixed fee of 500 ADA to enable farming programs.
3. MIN Token Economics: Protocol generates revenue through fee switch mechanisms, staking rewards, and buyback-and-burn programs. Total of 29.936M MIN tokens have been bought back and burned.
4. MeowDrop Development Fee: A 4 ADA fee is charged for claim transactions to cover MeowDrop platform development and maintenance.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

Minswap Labs operates Minswap DEX, a multi-pool decentralized exchange built on the Cardano blockchain that enables users to swap tokens, provide liquidity, farm yields, and stake MIN tokens. The platform includes a cross-DEX aggregator routing trades across 18+ Cardano DEX protocols, plus developer tools (REST API and React Widget SDK) for embedding swap functionality.

Product overview

Minswap Labs operates Minswap DEX, a multi-pool decentralized exchange built on the Cardano blockchain. The platform offers a comprehensive DeFi suite consisting of core trading (Swap, Liquidity Pools), yield generation (Farm, MIN Staking with 7.79% APR), token launch services (Launch Bowl with Classical Listing, LBEaaS, CZI), and cross-DEX aggregation. Additional modules include Margin Trading Beta, MeowDrop airdrop gateway, Governance voting, Analytics Dashboard, and DAO Treasury. Developer offerings encompass Aggregator API, Aggregator Widget SDK (React/npm), and Wallet Connect integration. The ecosystem processes 19.53B ₳ in trades across 6.7M+ transactions with 157.34M ₳ TVL. Total MIN staked reaches 590.48M with 1,884 unique stakers.

Differentiator

Problem solved

Functional benefit

Brands

• MeowDrop: Decentralized gateway for tokenized community rewards and airdrop distribution.
• Launch Bowl
• Smart-Token DEX (CIP113)
• Minswap Margin
• Minswap Aggregator

Products and services

• Minswap Swap Token exchange interface enabling trading of thousands of Cardano tokens with access to deepest liquidity on chain and low fees.
• Liquidity Pools Add tokens to liquidity pools and earn fees while other people trade. Supports multiple pool types including V2 and stable pools.
• Farm Yield farming functionality allowing users to earn MIN token rewards by providing liquidity to designated farms with bi-weekly rebalancing.
• MIN Staking Stake MIN tokens to earn protocol revenue (7.79% APR) with two options: 9-month Tiered Contract with scaling rewards or Flexible Liquid Contract.
• Launch Bowl Token launch platform offering Classical Listing, LBE as a Service (LBEaaS), and Collective Zap-in (CZI) initiatives for projects to bootstrap liquidity on Minswap.
• Minswap Aggregator Cross-DEX aggregation routing finding optimal swap routes across 18+ Cardano DEX protocols including Minswap, SundaeSwap, MuesliSwap, WingRiders, and others.
• Minswap Mobile App iOS and Android mobile application for trading, farming, and portfolio tracking on the go.
• MeowDrop Decentralized gateway for tokenized community rewards airdrops, distributing partner project tokens to eligible Minswap users based on LP and staking positions.
• Aggregator API REST API providing direct access to Minswap's aggregation functionality for partners implementing custom interfaces. Includes endpoints for ADA pricing, wallet queries, token search, swap estimation, transaction building, and order management.
• Aggregator Widget SDK npm package (@minswap/aggregator-widget) for React and HTML integration of Minswap's token swapping widget with customizable themes, partner tracking, and configurable asset/protocol selection.
• Smart-Token DEX (CIP-113) Beta platform for trading Cardano CIP-113 fluid tokens with batcher and transaction fee structure.
• Margin Trading Beta margin trading feature enabling Long/Short positions on selected tokens with isolated margin and borrowing capabilities via Nitro Wallet.

Quantifiable outcome

• 17% TVL increase to $36M following USDCx stablecoin launch
• +2 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration15 records

Feature7 records

Partnerships

Five partnerships are on record, tiered core and minor.

• CirclecoreTechnology or Integration · 1 March 2026Circle's USDCx regulated stablecoin launched on Cardano mainnet with over 15 million tokens minted. USDCx captured 36% market share and integrated across Minswap DeFi protocols, generating over $8 million trading volume within 72 hours of launch.
• LayerZerocoreTechnology or Integration · 1 March 2026LayerZero integration connects Cardano to 160+ blockchains, enabling cross-chain interoperability for assets and applications on the network.
• Cardano DEX Protocols (Aggregator)coreTechnology or IntegrationMinswap's aggregator routes trades across MuesliSwap, SundaeSwap, VyFinance, WingRiders, Spectrum, Splash, and other Cardano DEXs for optimal price discovery.
• Wallet PartnerscoreTechnology or IntegrationSupports multiple Cardano wallets: Eternl and Flint (Default mode), NuFi (Custom mode with enhanced UX features). Wallet Connect integration enables mobile wallet QR code connections.
• Grant Thornton SwitzerlandminorStrategic or Co-development PartnerCompleted first global on-chain financial audit using Cardano Foundation's Reeve framework, demonstrating regulatory compliance for the ecosystem.

Scale indicators8 records

Recent moves6 records

Expansion highlights7 records

Direct peers

• MuesliSwap: Cardano-native DEX offering AMM and limit-order pools. Competes head-to-head with Minswap for liquidity and is included in Minswap's aggregator routing.
• VyFinance: Cardano DeFi protocol offering AMM swaps and yield products. Comparable as a competing DEX in the same ecosystem and routing peer.
• SundaeSwap: Major Cardano-native DEX with multiple pool types (V1, V3, Stable). Directly comparable as a parallel AMM on the same chain and a routing destination within Minswap's own aggregator.
• WingRiders: Cardano DEX with V2 AMM and Stable V2 pools. Direct peer on the same chain, also integrated into Minswap's aggregator.
• Spectrum Finance: Cardano DEX integrated into Minswap's aggregator routing. Provides comparable AMM swap and liquidity services on the same chain.

Broad incumbents

• Curve Finance: Specialized stablecoin and like-asset AMM deployed across many chains. Minswap's stable pools and OpenDjed integration mirror Curve's model and represent competitive benchmarks for stable liquidity.
• 1inch Network: Multi-chain DEX aggregator with smart order routing. Most comparable to Minswap's Aggregator product at a much larger cross-chain scale.
• PancakeSwap: Multi-chain AMM DEX (BNB Chain, Ethereum, others) with a broad product suite (swap, farms, launchpad, staking). Comparable as a larger incumbent offering the same vertical product mix that Minswap is building on Cardano.
• Uniswap: The largest Ethereum-native AMM DEX and category-defining protocol. Comparable business model (AMM swap + fee capture) at vastly larger scale; serves as the reference architecture for Cardano DEXs like Minswap.

Emerging players

• Jupiter Aggregator: Solana's leading DEX aggregator with similar routing and partner-widget distribution mechanics. Useful peer for evaluating the trajectory of Minswap's aggregator business on Cardano.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/MinswapDEX
• GitHubgithub.com/minswap
• LinkedInlinkedin.com/company/minswap

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Minswap Labs