KLAYswap is a complete on-chain instant swap protocol that operates with an on-chain liquidity pool, where liquidity is guaranteed by automated market-making (AMM) mechanisms. It is an on-chain swap service that allows anyone that has any KLAY or KCT-type token cryptocurrency to become a liquidity provider and earn income from transaction fee commissions. KLAYswap creates a high liquidity environment in which assets not only of the Klaytn network but also of other networks, including Ethereum, can enter Klaytn by utilizing Orbit Chain's interoperability to meet the Klaytn Foundation's goal of addressing a wide range of real-life digital assets. Ethereum-based tokens (ETH, ORC, DAI, WBTC) can be transferred to the Klaytn ecosystem via Orbit Bridge. In KLAYswap, traders can not only experience immediate transactions via liquidity pools, but also develop services by deciding the policy and direction of KLAYswap with the KSP governance token.