# What is Clipper? ### The Blue-Chip DEX Clipper is a DEX designed specifically for blue-chip token swaps (e.g., ETH, WBTC, USD stablecoins, etc.), which comprise 70% of all on-chain trading volume. Clipper’s [novel architecture](/~/changes/Pe3DAbObJ7vk3hibsPW0/introduction/how-clipper-works.md#fmm-architecture) incorporates prices formed off-chain for these assets into a sophisticated formula and validates them on-chain. This removes the need for arbitrageurs and ensures lower gas fees for traders. On Clipper, traders can expect no whales or bots front-running their trades, and liquidity providers take home [superior yields](/~/changes/Pe3DAbObJ7vk3hibsPW0/introduction/how-lp-returns-work.md) with **no impermanent loss**. Clipper was initially developed by [Shipyard Software](https://www.shipyardsoftware.org) and licensed to [AdmiralDAO](https://www.admiraldao.xyz/). Previously Clipper focused only on smaller trades. Recent architectural improvements now allow it to provide best prices for all trades with sufficient TVL. **Clipper is currently available on the following chains:** * Ethereum * Polygon * Optimism * Arbitrum * Mantle Network > **⛵️ Fun Fact:** Clipper is named for the mid-19th-century merchant vessels that revolutionized global trade. Clipper ships were designed for speed, partially by trading off cargo capacity, and made their owners millions of dollars. --- # Agent Instructions: 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: ``` GET https://docs.clipper.exchange/~/changes/Pe3DAbObJ7vk3hibsPW0/introduction/what-is-clipper.md?ask= ``` The question should be specific, self-contained, and written in natural language. 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.