OneSwap V2 transforms swaps from a manual, multi-step process into a single, atomic experience. Atomic DvP settlement, automated transfers, gas prepayment, usernames and lower fees all serve the same goal: making trading on canton simpler while taking full advantage of canton's unique infrastructure.
As the canton ecosystem continues to grow, so do expectations around the applications built on top of it. Users want the security, privacy, and programmability that blockchain infrastructure provides but they also want experiences that are seamless and intuitive. OneSwap V2 arrives at that intersection.
Rather than introducing a single headline feature, the upgrade brings together improvements across settlement, transaction execution, identity, liquidity and rewards. Individually, each change improves a specific part of the platform. Together, they create a more connected trading experience that feels less like interacting with infrastructure and more like using a modern financial application.
Building on the Foundations
The first generation of OneSwap established a foundation for decentralized trading on canton.
Users could swap assets, provide liquidity and participate in the platform's growing ecosystem while benefiting from canton's unique architecture. As adoption increased and user behavior evolved, opportunities emerged to make that experience even more streamlined.
OneSwap V2 builds on that foundation.
The upgrade focuses on reducing the number of steps between intent and execution while improving transparency around costs and creating a stronger connection between users and the rewards they earn.
The result isn't a reinvention of OneSwap's core purpose. It's a refinement of how users interact with it.
Atomic Trading Arrives
At the core of V2 is Atomic Delivery versus Payment (DvP) settlement.
This is the technological foundation that powers many of the improvements introduced in the upgrade.
With Atomic DvP, the asset being sold and the asset being received settle together in a single transaction. Rather than treating different parts of a trade as separate actions, settlement happens atomically either the entire transaction succeeds, or it doesn't happen at all.
For users, this means swaps become faster, simpler, and easier to understand.
For the platform, it introduces a more elegant settlement model that aligns closely with canton's strengths.
Atomic DvP is particularly meaningful on canton because it allows settlement to be treated as a coordinated event rather than a sequence of independent actions. Instead of focusing on moving assets through multiple steps, users can focus on the outcome itself: the trade settles exactly as intended, or it doesn't settle at all. While much of this complexity remains invisible to end users, it's what enables many of the usability improvements introduced throughout V2, from automated transfers to a more streamlined execution flow.
The impact of that architectural shift extends throughout the trading experience.
One of the most noticeable improvements is the introduction of automated transfers. Rather than requiring users to manually move funds as part of the swap flow, V2 allows the system to handle those movements automatically. The process becomes more streamlined, reducing the distance between receiving a quote and completing a trade.
Cost efficiency has also improved, V2 introduces a more streamlined fee structure that reduces overall swap costs while making transaction pricing easier to understand. Previously, users paid network costs through their connected wallet while also accounting for swap fees as part of the transaction flow. By simplifying how costs are handled during execution, OneSwap creates a smoother experience while reducing the overall cost of swapping.
Another major addition is gas prepayment, execution costs have traditionally been one of the more difficult variables for users to estimate in advance. With gas prepayment, users can account for those costs upfront, giving them a clearer understanding of what a trade will cost before execution begins.
The result is greater predictability, more accurate swap quotes, and fewer surprises between the quoted and final execution price.
Taken together, Atomic DvP settlement, automated transfers, lower fees, and gas prepayment all point toward the same objective: reducing friction while preserving the security and reliability expected from on-chain trading.
Identity, Liquidity and a More Connected Experience
While the settlement engine may be the most significant technical upgrade, OneSwap V2 also introduces a new identity layer through usernames.
Users can now claim a username that serves as a persistent identity across the OneSwap ecosystem.
On the surface, usernames make accounts easier to recognize and interact with. Underneath, they unlock something more important: continuity.
As the ecosystem grows, activity is no longer limited to a single wallet. Users often participate through multiple wallets over time, whether for security, experimentation, or operational reasons. V2 introduces the ability to merge Diamonds accumulated across different wallets under a single username, bringing rewards and participation together under one identity.
The change may appear simple but it represents a meaningful shift. Rather than viewing wallets as isolated accounts, OneSwap is beginning to recognize the broader user journey across the platform. Usernames provide a foundation for a more connected ecosystem where identity, participation, and rewards can move together.
The V2 rollout also includes an important transition for liquidity providers, liquidity providers are currently migrating liquidity from V1 pools into the new V2 architecture through a withdrawal-and-redeposit process. To encourage participation, OneSwap is rewarding migrated wallets with a 2x diamonds multiplier on swaps.
The migration is an important milestone because it represents more than a pool update. It marks the transition into the infrastructure that powers the next phase of OneSwap's evolution. As liquidity continues to move into V2 and swaps reopened, users are now interacting directly with the new settlement model and the improvements built around it.
Looking Ahead
Viewed individually, the usernames, diamond consolidation, automated transfers, gas prepayment, lower fees and Atomic DvP settlement may appear to be separate features but in reality, they're all connected, each one removes a layer of complexity from the user experience while strengthening the infrastructure operating behind the scenes. More recently the OneSwap Wallet v2, which makes Oneswap a unified platform, you can send, receive, trade assets all in the same place. OneSwap wallet v1 users are encouraged to migrate to v2 with a single click.
That's what makes OneSwap V2 noteworthy.
The upgrade isn't simply about adding new functionality. It's about making powerful infrastructure feel effortless.
By combining atomic settlement, streamlined execution, unified identity and a more efficient cost model, OneSwap is demonstrating how applications built on Canton can evolve alongside the network itself.
The underlying technology has become more sophisticated.
The experience has become simpler, traders get a 2x diamond multiplier till August 18th.
And that's exactly the direction decentralized trading should be heading.
Swaps are reopened and liquidity continues migrating into the new pools, OneSwap V2 offers a glimpse into the next phase of trading on canton: one where powerful infrastructure fades into the background and a seamless user experience takes center stage.