Ambient (previously known as CrocSwap) is a DEX that is run in a single smart contract, where individual AMM (automated market maker) pools are included in the same contract instead of being separate smart contracts. Ambient single-contract architecture is designed to reduce gas and taxes while allowing users to seamlessly manage collateral in a single platform.
Ambient was developed as a new codebase that provides various different features compared to other DEXes. The team believes that the economics of AMMs are "broken", which causes liquidity to be centralized and controlled by very few. In order to change this, Ambient built their protocol from the ground-up allowng for deeper and varied types of liquidity and introduced various features and quality of life improvements vs other DEXes. These features include:
- Gas savings vs other competing DEXes
- Gasless transactions - users can pay in the swapped token instead of ETH for gas (using the EIP-712 off-chain standard)
- Permissioned pools
- Different types of liquidity - Concentrated (similar to UniV3), ambient (similar to UniV2), and knockout (similar to limit orders)
- Dynamically adjusted pool fees
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