WaultSwap is an automated market maker (AMM) built on the decentralized finance (DeFi) hub Wault Finance. The protocol aims to enhance the liquidity for Wault Finance by providing multiple crypto farming pools. An AMM is a protocol that uses mathematical formulas to derive prices of digital assets without any human or third-party intervention. WaultSwap uses the WEX as the primary farming token to reward members of the liquidity pools.

Wault Finance is a DeFi ecosystem that aims to bring various primary use cases of the DeFi under one roof. Built on Binance Smart Chain (BSC) and Polygon blockchain networks, Wault Finance aims to be a one-stop solution for decentralized finance solutions. According to the whitepaper, the ecosystem seeks to make DeFi accessible to the masses by building an intuitive platform and offering high-end security. Moreover, Wault Finance aims to eliminate issues plaguing existing DeFi platforms like high costs, confusing interfaces, and centralized network governance. 

A farm pool or a liquidity pool is a space where users can lock their crypto holding to earn rewards. WaultSwap uses these pools to generate liquidity for Wault Finance, charging as low as 0.20% as transaction fees. WEX is one of the four native cryptocurrencies of Wault Finance, with the other three being WAULTx, WEXpoly, and WUSD. WaultSwap claims that the trading fee it charges is among the lowest on the BSC. Out of the 0.20%, WaultSwap sends 0.14% to the liquidity pools, while the remaining 6% is used to buy back and burn WEX tokens. Token burning means sending a certain number of tokens to an inaccessible wallet to remove them from circulation permanently. 

Wault Finance was launched in early 2021, while WaultSwap was launched on April 27, 2021. The initial development team included five members, though the two marketing members—JB and Marcelo—were dissociated following the Holder Finance presale held on May 9, 2021. All the team members go by pseudonyms, including Creppy, the platform's founder. The WEX cryptocurrency had an initial maximum total supply of 750,000,000 tokens, of which 250,000,000 were airdropped to WAULT token holders.