# Bitswap
Bitswap operates as an automated market maker (AMM) that provides token swap functionality and liquidity provision. The formula is simple: x \* y = k. Prices are determined by the amount of each token in a pool, with x and y representing the two tokens in a liquidity pool. No intermediaries are needed. Bitswap allows your club to have its own decentralized exchange (DEX).
When adding Bitswap to their club, a BounceClub owner can choose which token pairs they wish to support for swapping. Users who interact with Bitswap within a BounceClub can swap any supported tokens and manage liquidity. Each transaction made in the liquidity pool incurs a 3% fee based on the token swap volume.
## How to add Bitswap to your BounceClub
1. First make sure that you've connected your wallet, claimed and created your BounceClub. For more details on how to do that, check out the [*Club Creator Guide*](https://docs.bouncebit.io/archived/for-bounceclub-owners/how-to-create-your-own-bounceclub).
2. Once you've created your BounceClub, enter your club and click "+Add An App" at the bottom of the page.
3. From the listed DApps, click on Bitswap.
4. You can then start creating token pairs.
5. To create a token pair, select the selling and payment currencies and hit "Submit". You can create multiple token pairs.
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