Allow users to trade straight between two tokens as an Atomic Swap and convert their tokens easily to others, offering optimum routes as bridging solutions.
X Swap is, simply put, a blockchain-based bridging platform (or "application") that supports literally a wide variety of tokens as well as various asset/fund classes, where users wishing to trade their tokens for other types of tokens will be able to gain seamless swapping experience and claim the benefits involved.
X Swap is our fastest and most secured cross-chain swap, a single transaction from source chain rules swap at target chain using decentralized consensus behind. The followings are the steps to use it.
As a one-stop aggregator for multiple chains, X Swap handles not only the most sought-after decentralized cryptocurrencies such as ETH or BTC but also those less popular tokens, which are mostly available on a small number of chains. Steering clear of this hurdle, the chain/token diversity along with copious combinations that ensue on X Swap ensures the steady provision of liquidity (see also Y Pool).
Cost:As mentioned earlier, X Swap targets this issue specifically by aggregating numerous other exchanges and sourcing liquidity from the users they bring onto our platform. The upshot here is that users are able to swap between two cryptos directly without the inconvenience and "double fees" in association with going about trade in two steps.
On the other hand, the swap itself is conducted between two entities without a third party's engagement, removing centralized intermediaries like regulated exchanges and giving token owners total control, and as smart contracts are capable of coping with the token swap process, no third-party service fees will be incurred, e.g., fees charged for an escrow.
Data integrity: Users can rest assured that the integrity of the data with regard to the tokens being bridged/swapped, the trading process, as well as the respective transactions will all be stored on-chain.
Atomicity & Security: "it either happens or it does not!" This is possibly the best sentence to conclude the notion of Atomic Swaps. Any token swaps should be "atomic" based on a rate or amount agreed by both parties of the transaction, where our smart contracts play a vital role in preventing either party from stealing a cryptocurrency from the other! So, by making the token swap atomic, X Swap can ensure both parties will either receive the respective tokens or none of the tokens.
Diversity & Interoperability:The broad diversity of tokens on X Swap is fertile ground for liquidity, whereby tokens can piggyback on this underlying platform and enjoy some of our security and popularity without having to spend time and resources on growing their own ecosystem from the ground up. Furthermore, more cross-chain token swaps also result in higher interoperability, hence a healthier platform.
Connect your Web3 wallet through MetaMask 🦊 or WalletConnect📡.
Step 3: Swap
Select the token you wish to swap between chains (or a single chain). Next up, the interface will prioritize the assets/token types on the drop-down list automatically depending on the token balance in your wallet. Or alternatively, users can directly paste the token address on the top of the input box to add a new token that the default list does not involve.
Upon selecting the tokens on both the source and the target chain as well as the amount you wish to swap, the interface will display the best rate you can get from this transaction and how the token is going to be bridged on the right-hand side of the page. Note that there might be more than one feasible route available for users' reference. The example below showcases USDT on BSC being swapped to DAI on Arbitrum.
You can also customize your slippage setting
Upon clicking "Swap", a transaction will thus be initiated, which requires you to access with your Web3 provider (i.e. MetaMask or WalletConnect).
Step 4: Confirm
In the course of the swap process, users will be able to monitor and view the breakdown (i.e. phases or stages) of the whole cross-chain transaction. Meanwhile, X Swap will check the latest updates on different blockchains at regular intervals and synchronize with the data for users' reference in real time.
With each swap being completed, users will be notified of whether or not the transaction is successfully executed.
Finally, a detailed list of all transactions executed via our protocol will be available. You can confirm the transaction in our Vault on the top-right corner of the web page. This transaction history is necessary and does add another layer of safety and security to the user experience.