> For a complete index of Agora Finance documentation, fetch https://docs.agora.finance/llms.txt

# Instant Settlement

> Documentation for the AUSD stablecoin and Agora's APIs.

## Docs

- [Protocol Deployments](https://docs.agora.finance/instant-settlement/protocol-deployments.md): Instant Settlement factory and pair contract addresses across supported networks
- [Core Concepts](https://docs.agora.finance/instant-settlement/core-concepts.md): Key concepts behind Agora Instant Settlement including fixed-price mechanics, liquidity, and fee structures
- [Smart Contracts](https://docs.agora.finance/instant-settlement/smart-contracts.md): Overview of the Instant Settlement smart contract architecture — factory and pair contracts
- [Factory Contract](https://docs.agora.finance/instant-settlement/smart-contracts/factory-contract.md): Factory contract API reference — creating pairs, querying deployments, and deterministic CREATE3 addresses
- [Pair Contract](https://docs.agora.finance/instant-settlement/smart-contracts/pair-contract.md): Pair contract API reference — swap execution, reserve management, pricing, and fee configuration
- [Quick Start](https://docs.agora.finance/instant-settlement/guides/quick-start.md): Get started with Agora Instant Settlement — setup, dependencies, and your first swap using Viem and TypeScript
- [Fetching All Pairs](https://docs.agora.finance/instant-settlement/guides/fetching-all-pairs.md): Query the factory contract to retrieve all available trading pairs and their addresses
- [Fetching Pair Reserves](https://docs.agora.finance/instant-settlement/guides/fetching-pair-reserves.md): Read current reserve balances for a trading pair to check available liquidity
- [Fetching Purchase Fees](https://docs.agora.finance/instant-settlement/guides/fetching-purchase-fees.md): Query fee rates for a specific trading pair before executing a swap
- [Fetching Pair Price](https://docs.agora.finance/instant-settlement/guides/fetching-pair-price.md): Get the current fixed price for a trading pair
- [Getting Testnet Tokens](https://docs.agora.finance/instant-settlement/guides/getting-testnet-tokens.md): Obtain testnet tokens and get whitelisted for Instant Settlement testing on supported testnets
- [Executing a Swap](https://docs.agora.finance/instant-settlement/guides/executing-swap.md): Guide to executing token swaps through the Pair contract with fixed-input and fixed-output options
- [Swapping - Fixed Input](https://docs.agora.finance/instant-settlement/guides/executing-swap/swapping-fixed-input.md): Execute a swap specifying an exact input amount and receiving a calculated output
- [Swapping - Fixed Output](https://docs.agora.finance/instant-settlement/guides/executing-swap/swapping-fixed-output.md): Execute a swap specifying an exact output amount with the input calculated automatically


> **Note:** This page contains both a page directory (above) and the landing page content (below). The page directory is generated for agent use and does not appear on the landing page.

> For a complete index of Agora Finance documentation, fetch https://docs.agora.finance/llms.txt

# Protocol Overview

> Agora Instant Settlement — a fixed-price swap protocol for verified users eliminating slippage on stablecoin trades

## Why Agora Instant Settlement?

[Stablecoins](/instant-settlement/core-concepts#stablecoins) and tokenized [RWAs](/instant-settlement/core-concepts#rwas-real-world-assets) typically trade close to their [redemption price](/instant-settlement/core-concepts#redemption-price), but inefficiencies in traditional liquidity pools often result in unwanted slippage and increased transaction costs. Agora Instant Settlement offers verified users seamless, fixed-price swaps, eliminating price uncertainty and significantly lowering transaction costs.

## Overview

**Agora Instant Settlement** enables the exchange of [stablecoins](/instant-settlement/core-concepts#stablecoins) and [RWAs](/instant-settlement/core-concepts#rwas-real-world-assets), allowing trades at fixed, predictable prices without typical market slippage or [price impact](/instant-settlement/core-concepts#price-impact). It is tailored for users seeking token swaps within a secure environment without the need for trusted intermediaries, prioritizing execution efficiency and reducing market impact. Agora Instant Settlement is available as open-source software [on GitHub](https://github.com/agora-finance/stable-swap) under the **BUSL-1.1 License**.

The Instant Settlement facility adheres to the **Uniswap-v2 interface** and is available exclusively to verified platform users through a protected whitelist.

## Ecosystem Participants

Unlike most decentralized liquidity protocols, Agora Instant Settlement does not rely on external Liquidity Providers (LPs). Instead, liquidity management is handled by Agora's team, which oversees inventory and redemption across chains to guarantee a **fixed exchange price** between [stablecoins](/instant-settlement/core-concepts#stablecoins) and [RWAs](/instant-settlement/core-concepts#rwas-real-world-assets). Unlike typical decentralized exchanges, Agora Instant Settlement pair pricing **does not rely on the Constant Product formula**, enabling users to rebalance their portfolios without [price impact](/instant-settlement/core-concepts#price-impact).

Agora Instant Settlement prioritizes regulatory compliance and user security. All participants undergo thorough [Know-Your-Customer (KYC)](/instant-settlement/core-concepts#know-your-customer-kyc) verification, ensuring compliance with relevant anti-money laundering (AML) and financial regulation. Additionally, our smart contracts have undergone rigorous audits, reinforcing trust and reliability.

### Whitelisted Users

Users verified through Agora's [KYC](/instant-settlement/core-concepts#know-your-customer-kyc) system are eligible to be whitelisted for interacting with the pair contracts, allowing swap execution at **any time**.

* **DAPP Users**: Users interacting directly with the decentralized application through their [wallet](/instant-settlement/core-concepts#wallet), benefiting from predictable swap rates and Instant Settlement.
* **Arbitrageurs**: Traders who identify price inefficiencies across platforms. They help equalize prices across the broader DeFi ecosystem, promoting fair valuations aligned with underlying token [redemption price](/instant-settlement/core-concepts#redemption-price).
* **Liquidity Aggregators and Smart Contracts**: Automated systems leveraging Agora's predictable pricing for optimal trade execution across multiple platforms, significantly enhancing their operational efficiency.