> For the complete documentation index, see [llms.txt](https://docs.parityswap.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.parityswap.io/introduction.md).
# Introduction
[ParitySwap](https://parityswap.io/) is a decentralized exchange (DEX) built on Robinhood Chain, an Arbitrum-based Layer 2 network for tokenized real-world assets. It lets anyone swap tokens and earn fees by providing liquidity — including for tokenized equities and ETFs traded on-chain, alongside crypto-native assets.
Parity runs both **V2-style pools** (a simple constant-product model, liquidity spread across all prices) and **V3-style pools** (concentrated liquidity, where providers choose the price range they cover). Swappers get the best available price across both automatically; liquidity providers choose the model that fits how hands-on they want to be.
### The idea behind the name
*Parity* means equal value on both sides — and it runs through everything the protocol does:
* **Balance.** Every pool holds two assets in equilibrium; trading and arbitrage keep them fairly priced.
* **Fairness.** Everyone trades against the same curve. There are no privileged market makers and no insider order flow — the fees a pool earns flow back to the people who supplied its liquidity, not to a middleman.
* **The peg.** A tokenized real-world asset should trade at parity with the real thing. Parity is designed to make that relationship visible and to keep it tight.
### What you can do here
* **Swap** any listed token for another in a few clicks, with a transparent quote and honest routing.
* **Provide liquidity** to a V2 or V3 pool and earn a share of trading fees.
* **Trade tokenized real-world assets** — on-chain representations of equities and ETFs — with the same tooling you'd use for any token.
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