# Exchange

HakuSwap is an Automated Market Maker (AMM), and the Exchange is at the keystone of HakuSwap.&#x20;

## Token Swaps

HakuSwap lets users trade without the need to go through a Centralized Exchange. Everything you do on HakuSwap is routed directly through your own wallet—no need to trust someone else with your coins!

{% content-ref url="exchange/token-swaps" %}
[token-swaps](exchange/token-swaps)
{% endcontent-ref %}

## Liquidity Pools

The HakuSwap exchange can only operate when there's enough liquidity to support trades; if nobody wanted to sell you AVAX for example, then it wouldn't matter how much you wanted to trade for some.&#x20;

Providing liquidity will get you LP Tokens, which will earn you rewards in the form of trading fees for making sure there's always liquidity for the exchange to use.

{% content-ref url="exchange/liquidity-pools" %}
[liquidity-pools](exchange/liquidity-pools)
{% endcontent-ref %}
