🔄Swapping
Last updated
Last updated
illumineX offers confidential cross-chain swaps. In this guide you will learn about different types of swaps and how to execute them.
Cross-Chain Swap
A cross-chain swap is a swap where the input is on one blockchain, and the output is received on another blockchain. In the example below, we have USDT on BNB Chain that we want to swap for ETH on Ethereum mainnet.
Begin by navigating to the Swap page and selecting the correct assets and blockchains. In the list of assets, you can see the ticker, full name of the asset, as well as the network it belongs to.
The next step is to input the amount of tokens to be swapped. In this example, we want to swap 100 USDT on BNB Chain, and will receive approximately 0.0289 ETH. Input the address to where you want to receive the swapped tokens in the “To:” field.
(Optional) Configure swap settings and make your swap more secure. From the swap settings window, you will be able to modify slippage and privacy level. Follow the checklist for maximum confidentiality. Read more about optimal Privacy Settings and how to configure them here.
Finally, open the swap settings and make sure that the Secure Router is turned ON.
You are now ready to swap. Click the “Cross chain swap” button, and approve the transaction. If this is your first time swapping, you will need to approve usage of funds first. The time until swap completion will depend on your configured privacy settings, and you can follow the progress of the swap on the swap status page.
Simple Swap within Oasis Sapphire
In case you are swapping two assets that are both on Oasis Sapphire, there will be no bridging involved, and you can choose to make your swap faster by having the output asset be the private (wrapped) version of the asset. In this example we can make our ROSE to IX swap faster by receiving the pIX (private IX) token instead. You can learn more about private assets and how they work here. Note that this is completely optional and you can also swap into the non-private version of the token if you want. Remember to input the address where you want to receive your swapped tokens in the “To:” field, and when you are ready, click on “Swap”.
Swapping memecoins
If you are swapping any coins with custom logic such as taxes, whale prevention etc (in general this applies for memecoins), make sure to switch OFF the secure router before swapping. In case you are uncertain, please verify with your token community before swapping.
When you have confirmed that the secure router is off, press swap.
