diff --git a/src/components/Swap/Input.tsx b/src/components/Swap/Input.tsx
index b2d086f8d..434cd2182 100644
--- a/src/components/Swap/Input.tsx
+++ b/src/components/Swap/Input.tsx
@@ -2,26 +2,20 @@ import { Trans } from '@lingui/macro'
 import { Currency, CurrencyAmount } from '@uniswap/sdk-core'
 import { TextButton } from 'components/Button'
 import { loadingTransitionCss } from 'css/loading'
-import {
-  useIsSwapFieldIndependent,
-  useSwapAmount,
-  useSwapCurrency,
-  useSwapCurrencyAmount,
-  useSwapInfo,
-} from 'hooks/swap'
+import { useIsSwapFieldIndependent, useSwapAmount, useSwapCurrency, useSwapInfo } from 'hooks/swap'
+import { useIsWrap } from 'hooks/swap/useWrapCallback'
 import { usePrefetchCurrencyColor } from 'hooks/useCurrencyColor'
-import { useCallback, useMemo, useState } from 'react'
+import { PriceImpact } from 'hooks/usePriceImpact'
+import { MouseEvent, useCallback, useMemo, useRef, useState } from 'react'
 import { TradeState } from 'state/routing/types'
 import { Field } from 'state/swap'
 import styled from 'styled-components/macro'
 import { ThemedText } from 'theme'
-import invariant from 'tiny-invariant'
 import { formatCurrencyAmount } from 'utils/formatCurrencyAmount'
 import { maxAmountSpend } from 'utils/maxAmountSpend'
 
 import Column from '../Column'
 import Row from '../Row'
-import TokenImg from '../TokenImg'
 import TokenInput, { TokenInputHandle } from './TokenInput'
 
 export const USDC = styled(Row)`
@@ -32,33 +26,48 @@ export const Balance = styled(ThemedText.Body2)`
   transition: color 0.25s ease-in-out;
 `
 
-export const InputColumn = styled(Column)<{ approved?: boolean; hasColor?: boolean | null }>`
+const InputColumn = styled(Column)<{ approved?: boolean; disableHover?: boolean }>`
   background-color: ${({ theme }) => theme.module};
   border-radius: ${({ theme }) => theme.borderRadius - 0.25}em;
   margin-bottom: 4px;
   padding: 20px 0 24px 0;
   position: relative;
 
-  // Set transitions to reduce color flashes when switching color/token.
-  // When color loads, transition the background so that it transitions from the empty or last state, but not _to_ the empty state.
-  transition: ${({ hasColor }) => (hasColor ? 'background-color 0.25s ease-out' : undefined)};
-  > {
-    // When color is loading, delay the color/stroke so that it seems to transition from the last state.
-    transition: ${({ hasColor }) => (hasColor === null ? 'color 0.25s ease-in, stroke 0.25s ease-in' : undefined)};
+  &:before {
+    background-size: 100%;
+    border: 1px solid ${({ theme }) => theme.module};
+    border-radius: inherit;
+
+    box-sizing: border-box;
+    content: '';
+    height: 100%;
+
+    left: 0;
+    pointer-events: none;
+    position: absolute;
+    top: 0;
+    transition: 125ms ease border-color;
+    width: 100%;
   }
 
-  ${TokenImg} {
-    filter: ${({ approved }) => (approved ? undefined : 'saturate(0) opacity(0.4)')};
-    transition: filter 0.25s;
-  }
+  ${({ theme, disableHover }) =>
+    !disableHover &&
+    ` &:hover:before {
+        border-color: ${theme.interactive};
+      }
+
+      &:focus-within:before {
+        border-color: ${theme.outline};
+      }`}
 `
 
-interface UseFormattedFieldAmountArguments {
+export function useFormattedFieldAmount({
+  currencyAmount,
+  fieldAmount,
+}: {
   currencyAmount?: CurrencyAmount<Currency>
   fieldAmount?: string
-}
-
-export function useFormattedFieldAmount({ currencyAmount, fieldAmount }: UseFormattedFieldAmountArguments) {
+}) {
   return useMemo(() => {
     if (fieldAmount !== undefined) {
       return fieldAmount
@@ -70,78 +79,85 @@ export function useFormattedFieldAmount({ currencyAmount, fieldAmount }: UseForm
   }, [currencyAmount, fieldAmount])
 }
 
-export default function Input() {
+interface InputWrapperProps {
+  field: Field
+  impact?: PriceImpact
+  maxAmount?: string
+  isSufficientBalance?: boolean
+}
+
+export function InputWrapper({
+  field,
+  impact,
+  maxAmount,
+  isSufficientBalance,
+  className,
+}: InputWrapperProps & { className?: string }) {
   const {
-    [Field.INPUT]: { balance, amount: tradeCurrencyAmount, usdc },
+    [field]: { balance, amount: currencyAmount, usdc },
     error,
     trade: { state: tradeState },
   } = useSwapInfo()
 
-  const [inputAmount, updateInputAmount] = useSwapAmount(Field.INPUT)
-  const [inputCurrency, updateInputCurrency] = useSwapCurrency(Field.INPUT)
-  const inputCurrencyAmount = useSwapCurrencyAmount(Field.INPUT)
+  const [amount, updateAmount] = useSwapAmount(field)
+  const [currency, updateCurrency] = useSwapCurrency(field)
+
+  const wrapper = useRef<HTMLDivElement>(null)
   const [input, setInput] = useState<TokenInputHandle | null>(null)
+  const onClick = useCallback(
+    (event: MouseEvent) => {
+      if (event.target === wrapper.current) {
+        input?.focus()
+      }
+    },
+    [input]
+  )
 
   // extract eagerly in case of reversal
-  usePrefetchCurrencyColor(inputCurrency)
+  usePrefetchCurrencyColor(currency)
 
   const isDisabled = error !== undefined
   const isRouteLoading = isDisabled || tradeState === TradeState.LOADING
   const isDependentField = !useIsSwapFieldIndependent(Field.INPUT)
   const isLoading = isRouteLoading && isDependentField
 
-  const amount = useFormattedFieldAmount({
-    currencyAmount: tradeCurrencyAmount,
-    fieldAmount: inputAmount,
-  })
-
-  //TODO(ianlapham): mimic logic from app swap page
-  const mockApproved = true
-
-  const insufficientBalance = useMemo(
-    () =>
-      balance &&
-      (inputCurrencyAmount ? inputCurrencyAmount.greaterThan(balance) : tradeCurrencyAmount?.greaterThan(balance)),
-    [balance, inputCurrencyAmount, tradeCurrencyAmount]
-  )
+  const isWrap = useIsWrap()
+  const formattedAmount = useMemo(() => {
+    if (amount !== undefined) return amount
+    if (!currencyAmount) return ''
+    return isWrap ? currencyAmount.toExact() : formatCurrencyAmount({ amount: currencyAmount })
+  }, [amount, currencyAmount, isWrap])
 
-  const max = useMemo(() => {
-    // account for gas needed if using max on native token
-    const max = maxAmountSpend(balance)
-    if (!max || !balance) return
-    if (max.equalTo(0) || balance.lessThan(max)) return
-    if (inputCurrencyAmount && max.equalTo(inputCurrencyAmount)) return
-    return max.toExact()
-  }, [balance, inputCurrencyAmount])
   const onClickMax = useCallback(() => {
-    invariant(max)
-    updateInputAmount(max)
+    if (!maxAmount) return
+    updateAmount(maxAmount)
     input?.focus()
-  }, [input, max, updateInputAmount])
+  }, [input, maxAmount, updateAmount])
 
   return (
-    <InputColumn gap={0.5} approved={mockApproved}>
+    <InputColumn disableHover={isDisabled || !currency} ref={wrapper} onClick={onClick} className={className}>
       <TokenInput
         ref={setInput}
-        amount={amount}
-        currency={inputCurrency}
+        amount={formattedAmount}
+        currency={currency}
         disabled={isDisabled}
         field={Field.INPUT}
-        onChangeInput={updateInputAmount}
-        onChangeCurrency={updateInputCurrency}
+        onChangeInput={updateAmount}
+        onChangeCurrency={updateCurrency}
         loading={isLoading}
       >
         <ThemedText.Body2 color="secondary" userSelect>
           <Row>
             <USDC isLoading={isRouteLoading}>
               {usdc && `${formatCurrencyAmount({ amount: usdc, isUsdPrice: true })}`}
+              {impact && <ThemedText.Body2 color={impact.warning}>({impact.toString()})</ThemedText.Body2>}
             </USDC>
             {balance && (
               <Row gap={0.5}>
-                <Balance color={insufficientBalance ? 'error' : 'secondary'}>
+                <Balance color={isSufficientBalance === false ? 'error' : 'secondary'}>
                   <Trans>Balance:</Trans> {formatCurrencyAmount({ amount: balance })}
                 </Balance>
-                {max && (
+                {maxAmount && (
                   <TextButton onClick={onClickMax}>
                     <ThemedText.ButtonSmall>
                       <Trans>Max</Trans>
@@ -156,3 +172,25 @@ export default function Input() {
     </InputColumn>
   )
 }
+
+export default function Input() {
+  const {
+    [Field.INPUT]: { balance, amount: currencyAmount },
+  } = useSwapInfo()
+
+  const isSufficientBalance = useMemo(() => {
+    if (!balance || !currencyAmount) return undefined
+    return !currencyAmount.greaterThan(balance)
+  }, [balance, currencyAmount])
+
+  const maxAmount = useMemo(() => {
+    // account for gas needed if using max on native token
+    const max = maxAmountSpend(balance)
+    if (!max || !balance) return
+    if (max.equalTo(0) || balance.lessThan(max)) return
+    if (currencyAmount && max.equalTo(currencyAmount)) return
+    return max.toExact()
+  }, [balance, currencyAmount])
+
+  return <InputWrapper field={Field.INPUT} isSufficientBalance={isSufficientBalance} maxAmount={maxAmount} />
+}
diff --git a/src/components/Swap/Output.tsx b/src/components/Swap/Output.tsx
index 85210b6f8..016522b0c 100644
--- a/src/components/Swap/Output.tsx
+++ b/src/components/Swap/Output.tsx
@@ -1,82 +1,44 @@
-import { useIsSwapFieldIndependent, useSwapAmount, useSwapCurrency, useSwapInfo } from 'hooks/swap'
+import { useSwapCurrency, useSwapInfo } from 'hooks/swap'
 import useCurrencyColor from 'hooks/useCurrencyColor'
 import { atom } from 'jotai'
 import { useAtomValue } from 'jotai/utils'
-import { TradeState } from 'state/routing/types'
 import { Field } from 'state/swap'
 import styled from 'styled-components/macro'
-import { DynamicThemeProvider, ThemedText } from 'theme'
-import { formatCurrencyAmount } from 'utils/formatCurrencyAmount'
+import { DynamicThemeProvider } from 'theme'
 
-import Row from '../Row'
-import { Balance, InputColumn, USDC, useFormattedFieldAmount } from './Input'
-import TokenInput from './TokenInput'
+import { InputWrapper } from './Input'
 
 export const colorAtom = atom<string | undefined>(undefined)
 
-const StyledInputColumn = styled(InputColumn)`
+const OutputWrapper = styled(InputWrapper)<{ hasColor?: boolean | null }>`
   border-bottom: 1px solid ${({ theme }) => theme.container};
   border-bottom-left-radius: 0;
   border-bottom-right-radius: 0;
   margin-bottom: 0;
   padding: 24px 0 20px 0;
+
+  // Set transitions to reduce color flashes when switching color/token.
+  // When color loads, transition the background so that it transitions from the empty or last state, but not _to_ the empty state.
+  transition: ${({ hasColor }) => (hasColor ? 'background-color 0.25s ease-out' : undefined)};
+  > {
+    // When color is loading, delay the color/stroke so that it seems to transition from the last state.
+    transition: ${({ hasColor }) => (hasColor === null ? 'color 0.25s ease-in, stroke 0.25s ease-in' : undefined)};
+  }
 `
 
 export default function Output() {
-  const {
-    [Field.OUTPUT]: { balance, amount: outputCurrencyAmount, usdc: outputUSDC },
-    error,
-    trade: { state: tradeState },
-    impact,
-  } = useSwapInfo()
-
-  const [swapOutputAmount, updateSwapOutputAmount] = useSwapAmount(Field.OUTPUT)
-  const [swapOutputCurrency, updateSwapOutputCurrency] = useSwapCurrency(Field.OUTPUT)
-
-  const isDisabled = error !== undefined
-  const isRouteLoading = isDisabled || tradeState === TradeState.LOADING
-  const isDependentField = !useIsSwapFieldIndependent(Field.OUTPUT)
-  const isLoading = isRouteLoading && isDependentField
+  const { impact } = useSwapInfo()
 
+  const [currency] = useSwapCurrency(Field.OUTPUT)
   const overrideColor = useAtomValue(colorAtom)
-  const dynamicColor = useCurrencyColor(swapOutputCurrency)
+  const dynamicColor = useCurrencyColor(currency)
   const color = overrideColor || dynamicColor
-
   // different state true/null/false allow smoother color transition
-  const hasColor = swapOutputCurrency ? Boolean(color) || null : false
-
-  const amount = useFormattedFieldAmount({
-    currencyAmount: outputCurrencyAmount,
-    fieldAmount: swapOutputAmount,
-  })
+  const hasColor = currency ? Boolean(color) || null : false
 
   return (
     <DynamicThemeProvider color={color}>
-      <StyledInputColumn hasColor={hasColor} gap={0.5}>
-        <TokenInput
-          amount={amount}
-          currency={swapOutputCurrency}
-          disabled={isDisabled}
-          field={Field.OUTPUT}
-          onChangeInput={updateSwapOutputAmount}
-          onChangeCurrency={updateSwapOutputCurrency}
-          loading={isLoading}
-        >
-          <ThemedText.Body2 color="secondary" userSelect>
-            <Row>
-              <USDC gap={0.5} isLoading={isRouteLoading}>
-                {outputUSDC && `${formatCurrencyAmount({ amount: outputUSDC, isUsdPrice: true })} `}
-                {impact && <ThemedText.Body2 color={impact.warning}>({impact.toString()})</ThemedText.Body2>}
-              </USDC>
-              {balance && (
-                <Balance color="secondary">
-                  Balance: <span>{formatCurrencyAmount({ amount: balance })}</span>
-                </Balance>
-              )}
-            </Row>
-          </ThemedText.Body2>
-        </TokenInput>
-      </StyledInputColumn>
+      <OutputWrapper field={Field.OUTPUT} impact={impact} hasColor={hasColor} />
     </DynamicThemeProvider>
   )
 }
diff --git a/src/components/Swap/TokenInput.tsx b/src/components/Swap/TokenInput.tsx
index e05182018..94a893850 100644
--- a/src/components/Swap/TokenInput.tsx
+++ b/src/components/Swap/TokenInput.tsx
@@ -21,14 +21,6 @@ const ValueInput = styled(DecimalInput)`
   height: 1.5em;
   margin: -0.25em 0;
 
-  :hover:not(:focus-within) {
-    color: ${({ theme }) => theme.onHover(theme.primary)};
-  }
-
-  :hover:not(:focus-within)::placeholder {
-    color: ${({ theme }) => theme.onHover(theme.secondary)};
-  }
-
   ${loadingTransitionCss}
 `
 
diff --git a/src/hooks/swap/index.ts b/src/hooks/swap/index.ts
index 08db1e23c..1f687b9a1 100644
--- a/src/hooks/swap/index.ts
+++ b/src/hooks/swap/index.ts
@@ -1,11 +1,10 @@
-import { Currency, CurrencyAmount } from '@uniswap/sdk-core'
+import { Currency } from '@uniswap/sdk-core'
 import { useAtom } from 'jotai'
 import { useAtomValue, useUpdateAtom } from 'jotai/utils'
 import { useCallback, useMemo } from 'react'
 import { pickAtom } from 'state/atoms'
 import { Field, swapAtom, swapEventHandlersAtom } from 'state/swap'
 import { invertTradeType, toTradeType } from 'utils/tradeType'
-import tryParseCurrencyAmount from 'utils/tryParseCurrencyAmount'
 export { ChainError, default as useSwapInfo } from './useSwapInfo'
 
 function otherField(field: Field) {
@@ -89,15 +88,3 @@ export function useSwapAmount(field: Field): [string | undefined, (amount: strin
   )
   return [amount, updateAmount]
 }
-
-export function useSwapCurrencyAmount(field: Field): CurrencyAmount<Currency> | undefined {
-  const isFieldIndependent = useIsSwapFieldIndependent(field)
-  const isAmountPopulated = useIsAmountPopulated()
-  const [swapAmount] = useSwapAmount(field)
-  const [swapCurrency] = useSwapCurrency(field)
-  const currencyAmount = useMemo(() => tryParseCurrencyAmount(swapAmount, swapCurrency), [swapAmount, swapCurrency])
-  if (isFieldIndependent && isAmountPopulated) {
-    return currencyAmount
-  }
-  return
-}