What are token swaps? How can it help crypto investors?
The success of the crypto industry relies largely on continuous innovation. Cryptocurrencies are changing the economy in many ways while making procedures simpler and more user-oriented. Seamless processes of managing, accessing, storing, and purchasing digital assets have directly improved customer satisfaction and eliminated many of the complexities that come with the emerging sector. The industry has various applications and methods to provide the best experience to crypt users and Token Swap is one of the popular ones among them.
Token swaps were designed for swapping one crypto asset for another. This process reduces the overhead cost and time required in token swapping/exchanging. More detail about token swaps is provided below.
What are Token Swaps?
The token swap is the transfer of digital tokens from one blockchain to another. This typically happens when a project uses a blockchain to raise funds and then migrates its tokens to another blockchain after launching the project’s main net.
However, blockchain projects can also be moved to different blockchain networks for some tangible reason. The development team should provide investors and users with an easy process to swap out the native tokens of the project for any other tokens compatible with the new blockchain. This process replaces the need for the crypto-to-fiat-to-crypto process with the crypto-to-crypto process.
How do Token Swaps Works?
Token swap allows token holders to swap one cryptocurrency into another at a fixed rate. Unlike trading coins to buy, a token swap is the exchange of one coin for another, so it shows that those investors are expected to swap the old one for the new one before it loses its value.
These platforms are supported through a process of registration and auditing or facilitated through a cryptocurrency exchange.
Benefits of Token Swaps
The token swap is the most convenient gateway for crypto trading. Token swaps generally serve as a convenient, easygoing, and secure crypto-to-crypto trading platform.
These platforms are capable of managing exchanges between custodial and non-custodial systems. Additionally, users can take advantage of data integrity in the process, and transactions will be held on the smart chain.
These platforms also assure the atomicity of token swaps with an atomic swap. Users can also find better scope for interoperability with cross-chain token swapping. Above all, token swap smart contract benefits can eliminate third-party token fees, resulting in payments with narrow taxes. As a result, token swapping can help investors cost-effectively when trading crypto.
If you are looking for a platform that allows token swapping at a very affordable rate then Metaple Finance is a decentralized Finance project and its list of features includes token swapping. The project is aimed at making crypto earning easy and efficient. It is a Defi project that allows staking, swapping, liquidity pool, and crypto Farming, and is well supported by its native BEP-20 token i.e. MLX.
Visit the official website https://metaple.finance/, read the whitepaper, check all the features and experience the true capabilities of cryptocurrencies.
