# Introduction 👋

<figure><img src="https://1914496991-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F0bGMGaQOhEWbZAuX4oXE%2Fuploads%2Fs8Vvl2lscXL9y4XI67Al%2Fimage%20(7).png?alt=media&#x26;token=64be7754-49c0-46ad-92ac-02290ea76cdb" alt=""><figcaption></figcaption></figure>

### What is GammaSwap?

GammaSwap is the first onchain perpetual options protocol. It is non synthetic and positions are created by borrowing liquidity from [Automated Market Makers ](https://docs.gammaswap.com/resources/glossary#automated-market-maker-amm)[(AMMs)](https://docs.gammaswap.com/resources/glossary#automated-market-maker-amm). This enables users to hedge Impermanent Loss in AMMs and speculate on the volatility of any token.

### DeltaSwap, an AMM unique to GammaSwap

DeltaSwap is an AMM built by the GammaSwap Labs team. It uses the canonical liquidity invariant formula, x\*y=k (Uniswap V2).&#x20;

DeltaSwap is purpose built to work with GammaSwap by streaming the yield to reduce rate volatility and leveraging variable swap fees.

### The GammaSwap dApp

<figure><img src="https://1914496991-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F0bGMGaQOhEWbZAuX4oXE%2Fuploads%2FteyMtJMnMGxjQXph2T9D%2FScreenshot%202024-06-05%20at%2012.38.12%E2%80%AFAM.png?alt=media&#x26;token=5c01a2fc-7e24-43c4-927a-48115b6b6d0e" alt=""><figcaption><p>The Pools Page</p></figcaption></figure>

The [GammaSwap dApp](https://app.gammaswap.com/earn) is live on Arbitrum, Base and Ethereum. Users can connect their wallets to trade perp options and provide liquidity. The docs explain how to utilize the platform based on different user personas.

\
Here is a breakdown of the available pages in the interface:

* **Trade**- the trading interface for perpetual option positions and swaps.
  * **Perp Options** - Borrow liquidity to get perpetual option exposure. Hedge IL or speculate on volatility.
  * **Swap** - Trade spot assets using DeltaSwap.
* **Earn** - the liquidity provider interface, where LPs can add liquidity to GammaSwap pools.
  * **Pools** - Provide liquidity into pools to earn trading fees.
  * **Stake** - Stake GS and esGS to earn ETH fees, MP points and esGS rewards.
  * **Farms** - Stake GammaSwap LP tokens (GSLP) to earn escrowed GS incentives.
* **Portfolio** - once you have added liquidity or opened an option position, your positions will appear here. There are two tabs "Supplied" to view open LP positions and "Borrowed" to view open borrow (option) positions.

### Liquidity Providers

{% content-ref url="guides/provideliquidity" %}
[provideliquidity](https://docs.gammaswap.com/guides/provideliquidity)
{% endcontent-ref %}

### Perpetual Option Traders

{% content-ref url="guides/tradeperpoptions" %}
[tradeperpoptions](https://docs.gammaswap.com/guides/tradeperpoptions)
{% endcontent-ref %}

### Spot Traders

{% content-ref url="guides/swap" %}
[swap](https://docs.gammaswap.com/guides/swap)
{% endcontent-ref %}

### Farming&#x20;

{% content-ref url="guides/farms" %}
[farms](https://docs.gammaswap.com/guides/farms)
{% endcontent-ref %}

### Staking Rewards

{% content-ref url="guides/stakinggs/staking-guide" %}
[staking-guide](https://docs.gammaswap.com/guides/stakinggs/staking-guide)
{% endcontent-ref %}

### Vesting Rewards

{% content-ref url="guides/stakinggs/vesting-staking-rewards" %}
[vesting-staking-rewards](https://docs.gammaswap.com/guides/stakinggs/vesting-staking-rewards)
{% endcontent-ref %}


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