> For the complete documentation index, see [llms.txt](https://docs.pearlswap.ai/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.pearlswap.ai/readme.md).

# Pearl Swap

Turn anything you hold into Pearl's own coin, and move PRL between Pearl and Hyperliquid.

Pearl Swap does two things.

**It gets you PRL.** Pay with whatever you already hold, on whatever network you hold it, and native PRL arrives at your own Pearl address. You do not need an account with us, or with an exchange, and you never hand us your coins to look after.

**It moves PRL between Pearl and Hyperliquid.** PRL on Hyperliquid can be traded against USDC on a real order book. PRL on Pearl is the coin itself. The same PRL can be on either side, and one is always exchangeable for the other, one for one.

Between the two sides sits an escrow that no single party controls: every PRL on Hyperliquid is matched by a PRL held on Pearl by three independent guardians, of whom any two must agree before anything moves. None of them can move it alone, and that includes us.

{% hint style="warning" %}
**Test networks only, for now.** Pearl Swap runs end to end on test networks. On the live site you can see prices, but payments are switched off and no real money can move. [Where the project stands](/reference/status.md) says what is finished and what is not.
{% endhint %}

<figure><img src="https://215240236-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FwlmadLPdVKbSiMNzGovG%2Fuploads%2Fgit-blob-d5eff8234c21d1dce7fad3d192f17f4a2b145098%2Fswap-quote.png?alt=media" alt="The swap screen: 25 USDC on Base in, 96.4427 PRL out, with the fee and the time it takes"><figcaption><p>Pay with what you have. The figure you see is the figure that arrives.</p></figcaption></figure>

### Where to start

* [What Pearl is](/introduction/pearl.md) — the chain and the coin, if you are new to it.
* [What Pearl Swap is](/introduction/pearl-swap.md) — the problem this solves, and how.
* [Swapping into PRL](/use-it/swapping.md) — you hold something else and want PRL.
* [Moving PRL to Hyperliquid and back](/use-it/moving-prl.md) — you already hold PRL.
* [The short version](/how-it-works/overview.md) — what happens behind the screen.
* [Who can do what](/how-it-works/trust.md) — the honest account of what you are trusting.


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