# Swaps
YeiSwap lets you exchange one token for another directly within the Yei ecosystem. Trades are matched based on available liquidity in the pool, enabling fast and permissionless swaps.
### Mechanism
YeiSwap is a decentralized exchange (DEX) that integrates Yei’s native interest-bearing tokens.
* Users swap tokens as usual, with no change in experience.
* Liquidity providers (LPs) earn both **trading fees** and **lending yields**, boosting capital efficiency.
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## Token Swap
### Important Concepts
* **Price Impact**: Change in market price caused by your trade. Larger trades experience higher impact.
* **Slippage**: Difference between expected and actual price due to market changes. Set a slippage tolerance to manage this.
### How to Swap
Follow these steps to complete a swap on Yei:
* **Select Tokens:** Choose the token to swap from and to.
* **Set Slippage:** Adjust your slippage tolerance.
* **Review Price Impact:** Higher impact = worse rates.
* **Approve Token:** Required only on the first swap for each token.
* **Sign and Confirm:** Approve the transaction in your wallet.
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## **Security**
View our [audit report here](/security/audits.md#yei-swap).
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