What is Swap?

One of the great features of the XPR Network blockchain is the ability to swap tokens directly on-chain using smart contracts. Swap is a DEX (Decentralized Exchange) that allows you to swap xTokens instantly with very low fees. When you deposit cryptocurrencies into your Webauth.com wallet, they are wrapped and converted into xTokens (for example, BTC becomes XBTC, MTL becomes XMT, and so on). Once your cryptocurrencies are wrapped into xTokens, you can easily swap them for other xTokens on Swap. 

Swap has been audited by PeckShield, a leading blockchain security company, and is recognized as a secure and reliable decentralized exchange. We understand how valuable your cryptocurrency is, which is why we’ve made Swap a straightforward, safe, and useful tool for your DeFi journey.

All swaps on Swap are conducted without needing to deposit your cryptocurrency in a centralized exchange. By interacting directly with your wallet, the swapped crypto is withdrawn and deposited right into your wallet, ensuring you keep full control over your assets at all times.

What sets Swap apart from other swapping tools is its remarkably fast swaps and low fees. Swaps between XPR Network-wrapped assets occur instantly, and any fees charged are minimal. This means no long transaction times, no high gas fees, and no reason to regret your swap.

What is a wrapped asset or token?

A wrapped token is an asset that exists on a different blockchain but has the same price as the underlying asset, even if it’s not on the same blockchain. A wrapped token maintains the same value as the asset it represents, either through a smart contract or by being backed one-to-one with the underlying asset.

What is the advantage of an XPR Network-wrapped token?

When a token is wrapped and converted to the XPR Network blockchain, it gains all the benefits that native XPR Network tokens enjoy. This includes instant transaction times, no gas fees, and much more. For instance, while sending one satoshi of regular BTC might be impossible due to gas fees, one satoshi of XBTC can be easily sent to other wallets. This applies to other XPR Network-wrapped tokens as well.

Must-Know Terms

Swap Pair

The two xTokens involved in the transaction. As the Swap initiator, you will sell an xToken (shown on top) and receive an xToken (shown on the bottom) at the agreed swap rate. 

Price Impact

The difference between the Market Price and the additional estimated spread (cost) due to the total value of the transaction. Larger transactions will typically have a higher Price Impact because they utilize more liquidity (see below). Therefore, Price Impact and Liquidity are inversely related. In general, higher liquidity leads to a lower Price Impact. The final price already takes Price Impact into account. 

⚠️ Always check the Price Impact amount. Some xTokens with low liquidity may result in an unfavorable swap ratio. Since all swaps are final, it’s important to review the Price Impact before executing a swap.

Minimum Received

The absolute minimum amount you will receive during this transaction. If the amount received is less than the Minimum Received amount displayed after the swap is executed, the transaction will fail. This serves as a safety measure to protect against unexpected and unfavorable swaps due to market volatility. 

Liquidity 

The amount of xTokens available in the AMM Pool for the selected Swap Pair. A higher liquidity figure means that the total value of the transaction can be larger with minimal Price Impact. 

Ready to try it for yourself? Go to our Swap site!