> For the complete documentation index, see [llms.txt](https://seacows.gitbook.io/seacows-amm-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://seacows.gitbook.io/seacows-amm-docs/technical-reference/overview.md).

# Overview

<figure><img src="/files/DSANID5yNKhAMF6e27Xp" alt=""><figcaption></figcaption></figure>

Seacows is an *automated liquidity protocol* powered by a [constant product formula](broken://pages/i8RZD0yaqvqFnzN9yAru#x--y--k) and implemented in a system of non-upgradeable smart contracts on the [Ethereum](https://ethereum.org/) blockchain. It obviates the need for trusted intermediaries, prioritising **decentralisation**, **censorship resistance**, and **security**.

All the fee are with respect to the [`PERCENTAGE_PRECISION`](/seacows-amm-docs/technical-reference/core/seacowserc721tradepair/seacowspairmetadata.md#percentage_precision).&#x20;

## Fee Structure

### Swap Fee

There are 2 fee tiers:

* 0.5%. See [POINT\_FIVE\_PERCENT](/seacows-amm-docs/technical-reference/core/seacowserc721tradepair/seacowspairmetadata.md#point_five_percent)
* 1%. See [ONE\_PERCENT](/seacows-amm-docs/technical-reference/core/seacowserc721tradepair/seacowspairmetadata.md#one_percent)

The fee tier is determined when it was created. The swap fee accumulates in the Pair but will not be considered as part of the liquidity. To collect swap fee, please refer to [Collect Swap Fee](/seacows-amm-docs/technical-reference/core/seacowserc721tradepair/seacowsrewarder.md).

### Protocol Fee

Protocol fee is the fee that will be collected every swap and transferred to the `feeTo` address specified in the [SeacowsPositionManager](/seacows-amm-docs/technical-reference/core/seacowspositionmanager.md).&#x20;

* Max Protocol Fee = 10%
* Default Protocol Fee = 0.3%

The protocol fee can be configured by Royalty Fee Manager. See royaltyFeeManager.

The max protocol fee is a constant in the pair contract. See [MAX\_PROTOCOL\_FEE\_PERCENT](/seacows-amm-docs/technical-reference/core/seacowserc721tradepair/seacowspairmetadata.md#max_protocol_fee_percent).

### Royalty Fee


---

# Agent Instructions
This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com.

## Querying This Documentation
If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question.

Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter:

```
GET https://seacows.gitbook.io/seacows-amm-docs/technical-reference/overview.md?ask=<question>&goal=<endgoal>
```

`ask` is the immediate question: it should be specific, self-contained, and written in natural language.
`goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal.

The response will contain a direct answer to the question and relevant excerpts and sources from the documentation.

Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.