Swapping is a process where you exchange one crypto for another, similar to exchanging Dollars for Euros. You send a swap partner one type of crypto, and they return another of your choosing.
We work with a 3rd party provider, Changelly, to enable swapping in the LIQUID app. Swapping is available for all coins and tokens that are supported on ZERO, exception for ESDT tokens (on MultiversX/EGLD).
A swap with Changelly consists of 4 steps. This is the full transaction flow of a swap:
- Confirmation of the Send transaction on the blockchain network.
- Confirmation and processing of the received crypto by the swap provider Changelly.
- Confirmation and processing of the sent crypto by the swap provider Changelly.
- Confirmation of the Receive transaction on the blockchain network.
Read on: How does swapping work?