# Exchange

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Cobe Exchange is an automated market maker (AMM) that enables users to exchange two tokens on the Arbitrum Chain. The exchange's liquidity is provided by Liquidity Providers (LPs) who stake their tokens in Liquidity Pools. In exchange, users receive LP tokens that can also be staked to earn $COBE tokens in the "Farms."

When users make a token swap in the Exchange tab, a trading fee of 0.2% is charged, which is divided as follows:

<mark style="color:red;">**0.15% - LP Reward for Liquidity Providers**</mark>

<mark style="color:red;">**0.01% - COBE Token Burn**</mark>

<mark style="color:red;">**0.02% - Cobe Trade Earn (Multi-reward pool, Double Launchpools, other product features)**</mark>

<mark style="color:red;">**0.02% - Cobe Trade Team**</mark>
