Prices and fees

Prices
Prices are determined by the amount of each token in a pool. For a given liquidity pair, the smart contract maintains the above equation x * y = k. 
For example, if you bring ∆x tokens in order to swap for ∆y XTZ then the following formula will be used 
x∗y=k=(x+∆x)∗(y−∆y)x * y = k = (x + ∆x) * (y - ∆y) x∗y=k=(x+∆x)∗(y−∆y)
Since the product must still be equal to k. It is equivalent to :
∆y=y∗∆x/(x+∆x)∆y = y * ∆x / (x + ∆x)

∆y=y∗∆x/(x+∆x)
Finally, we need to operate with integers only (Tezos doesn’t manage floating numbers) and take a 0.28% fee, which means at the end of every transaction, the user receives  97.2% = 9972 / 10000 :
∆y=9972∗y∗∆x/10000∗(x+∆x)∆y=9972∗y∗∆x/10000∗(x+∆x)∆y=9972∗y∗∆x/10000∗(x+∆x)∆y=9972∗y∗∆x/10000∗(x+∆x)∆y = 9972 * y * ∆x / 10 000 * (x + ∆x)∆y\\ =9972∗y∗∆x/10000∗(x+∆x)∆y=9972∗y∗∆x/10000∗(x+∆x)∆y=9972∗y∗∆x/10000∗(x+∆x)∆y=9972∗y∗∆x/10000∗(x+∆x)
If you bring ∆x ∆x∆x
XTZ in order to swap for∆y ∆y∆y
tokens then the following formula will be used :
k=x∗y=(x+0.9972∗Δx)∗(y−Δy)k = x*y = (x + 0.9972*Δx)*(y − Δy)k=x∗y=(x+0.9972∗Δx)∗(y−Δy)
Hence
Δy=(0.9972∗Δx∗yx+0.9972∗Δx) Δy = (\frac{0.9972*Δx* y}{x + 0.9972*Δx})Δy=(x+0.9972∗Δx0.9972∗Δx∗y​)
Fees
The  0.28% fee taken against each swap is allocated as per the following ratio:
0.25% will be given to the liquidity providers
0.01% will be sent to Smartlink Treasury
0.02% will be used to buy back and burn $SMAK tokens.

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Prices

Fees