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Symbiosis guide: Swaps to and from BTC
Last updated
Symbiosis guide: Swaps to and from BTC
Last updated
Symbiosis facilitates cross-chain exchanges between BTC and any token on supported blockchain networks. It allows users two ways to engage: exchanging BTC for tokens and vice versa, exchanging tokens for BTC on the Bitcoin network.
For a deeper dive into the mechanics of BTC exchanges with Symbiosis, refer to this article Symbiosis: From/To BTC
To exchange BTC for a token, ensure the following:
BTC Availability: BTC must be available on an address you control on the Bitcoin network.
BTC Wallet: Use a wallet that supports network operations, such as Electrum or Trust Wallet.
Destination Address: Have an address on the destination network that you control.
Specify Exchange Details: Open the Symbiosis WebApp and specify the details of the exchange: Amount of BTC to exchange, destination blockchain and token, destination address on the chosen blockchain
Review the Quote and send BTC: After receiving the quote, review the swap details. If the terms are acceptable, use your chosen Bitcoin wallet to send the specified BTC amount to the address provided in the quote.
Receive Tokens: Once the cross-chain operation is processed, the tokens will be sent to the specified address on the destination chain. Note that this process may take longer than typical cross-chain swaps between other blockchain networks.
Navigate to Symbiosis WebApp.
Specify exchange details: (1) Select BTC as “From”, (2) Enter the BTC amount for exchange, (3) Select the destination chain and token (e.g., USDC on Ethereum), (4) Specify the destination address: - Enter the address manually into the field, or - Connect a wallet, select the desired address in the wallet, and it will be automatically used as the destination address. Important: Currently, Symbiosis WebApp doesn’t support BTC wallets.
Once all details are specified, the Symbiosis WebApp will calculate a quote for the exchange. Review the swap details: Please note that if the specified BTC amount is sent, the exact amount you receive will fall between the estimated amount shown in the “To” field and the minimum received amount displayed in the swap details. - The estimated amount is based on the exchange rates across the entire sequence of intermediary swaps needed to obtain the destination tokens. - The minimum received amount is calculated from the estimated amount, taking into account the slippage tolerance set for this cross-chain operation. Both the estimated and minimum received amounts include all fees associated with the cross-chain exchange. If the terms are acceptable.
Click the “Continue” button:
Read and follow the instructions provided in Symbiosis WebApp on the next step: You initiate the cross-chain exchange by sending the specified amount of BTC to the address in the BTC → Token exchange quote. The address will be new for each new cross-chain swap. Please don't reuse the address.
Disclaimer: If the amount sent is incorrect, the time limit has expired, or BTC tokens are sent repeatedly to the same address, the exchange will be stopped. Please refer to the Problems and Solutions section below for information on how to handle a problem if it occurs.
Send the specified BTC amount to the specified BTC address. For each swap a unique BTC address is generated. Sending the specified BTC amount to the provided BTC address triggers the cross-chain exchange for the specified tokens. If you send different BTC amount or send when time limit is over it may cause the your BTC cannot be recovered. Please check the Problems and Solutions section below.
Receive tokens. Once the cross-chain operation is processed, the tokens is sent to the specified address on the destination chain. Note that process may take longer than typical cross-chain swaps between other blockchain networks.
Keep the Swap Instructions Page Open: Once you send BTC to the specified address, the Symbiosis WebApp will automatically detect the transfer and continue displaying the swap progress on the same page.
Copy and Use the Tracking Link: At the bottom of the swap instructions, you'll find a link. Copy this link before closing the page. After the transfer, you can open the link in your browser to monitor the swap progress.
There are two ways to track your exchange:
Keep the Swap Instructions Page Open: Once you send BTC to the specified address, the Symbiosis WebApp will automatically detect the transfer and continue displaying the swap progress on the same page.
Use Symbiosis Explorer: You can also track your exchange by entering your transaction details into Symbiosis Explorer.
To exchange a token for BTC, ensure the following:
Token Availability: The tokens you want to exchange must be available in an address you control on a supported network.
Wallet: Use a wallet that is supported in the Symbiosis WebApp, such as MetaMask or TronLink, depending on the source chain from which you are exchanging tokens.
Destination BTC Address: Have a Bitcoin network address that you control for receiving the BTC.
Connect Your Wallet: Open the Symbiosis WebApp and connect a supported wallet.
Specify Exchange Details: Specify the details of the exchange: the source token and blockchain network, the amount of tokens to exchange, BTC as the destination token, and the destination address on the Bitcoin network.
Review the Quote, Sign and Send a Transaction: After receiving the quote, review the swap details. If the terms are acceptable, sign the transaction in your connected wallet and send it to the source chain.
Receive BTC: Once the cross-chain operation is processed, BTC amount will be sent to the specified address on the Bitcoin network. Note that this process may take longer than typical cross-chain swaps between other blockchain networks.
Navigate to Symbiosis WebApp.
Connect your wallet for the source chain.
Review the swap details. If the terms are acceptable, click the “Swap” button and confirm the transaction in your wallet.
Receive BTC. Once the cross-chain operation is processed, the BTC will be sent to the specified address on the Bitcoin network. Note that this process may take longer than typical cross-chain swaps between other blockchain networks.
There are two ways to track your exchange:
Keep Symbiosis WebApp Open: Symbiosis WebApp will continue displaying the swap progress.
Use Symbiosis Explorer: You can also track your exchange by entering your transaction details into Symbiosis Explorer.
Sending BTC After the Timeout Expires If you send BTC after the allotted time for the operation has expired, the BTC will remain locked at the specified address on the Bitcoin network, and the exchange will not occur. Solution: To complete the exchange or to retrieve your BTC, please contact support.
Sending a Different BTC Amount If you send a BTC amount that differs from the one specified in the request, the following situations may arise:
The BTC remains locked at the address on the Bitcoin network, and the exchange does not proceed. What to do: To get your BTC back, contact support. Please note, in some cases, it may not be possible to return the BTC.
The exchange proceeds, but something goes wrong, and the swap is marked as stuck in the Symbiosis Explorer. What to do: To recover your tokens, you can perform a revert through the Symbiosis WebApp. This process will return tokens to the EVM network address that was specified as the recipient in the BTC → token exchange. The received tokens can then be exchanged for any other token on the supported networks.
Stuck cross-chain swap If something goes wrong and the swap is marked as stuck in the Symbiosis Explorer, you can revert the transaction through the Symbiosis WebApp. This will return tokens to the EVM network address that was specified as the recipient in the BTC → token exchange. The tokens can then be exchanged for any other token on the supported networks, or you can convert them back to Bitcoin.
Received WBTC or USDC Instead of the Specified Token Why it happens: When exchanging assets across blockchains, transactions aren't processed instantly. If the exchange rate on the destination network changes during processing, and the new conditions don't meet the original terms, you may receive WBTC or USDC instead of the token you selected. Why WBTC: WBTC tokens have the same value across different networks, making them ideal transit tokens for routing cross-chain operations with BTC through the Symbiosis protocol.
Stuck cross-chain swap Something goes wrong and the swap is marked as stuck in the Symbiosis Explorer. What to do: To recover your tokens, you can perform a revert through the Symbiosis WebApp. This will return tokens to the EVM network address from which the exchange was initiated. The returned tokens can then be exchanged for any other token on the supported networks or for BTC on the Bitcoin network.
Received SyBTC на zkSync Era If the exchange cannot be completed due to technical reasons (e.g., a sudden spike in Bitcoin network fees), SyBTC on zkSync Era will be sent to the address from which the exchange was initiated. What to Do: The received tokens can be exchanged for any other token on the supported networks, or you can convert them to Bitcoin.
Remember, never share your pass phrases or any other sensitive information with anyone.
If you have any questions, please contact our support team on Discord.
Specify exchange details: (1) Select the source chain and the token on that chain as “From” (e.g., ETH on the Ethereum network), (2) Enter the amount of tokens to exchange, (3) Select the Bitcoin network and BTC as “To”, (4) Specify the destination address on the Bitcoin network.
Once all details are specified, the Symbiosis WebApp will calculate a quote for the exchange. Review the swap details: Scroll down and expand “Show More”:
Please note that the exact amount you receive will fall between the estimated amount shown in the “To” field and the minimum received amount displayed in the swap details. - The estimated amount is based on the exchange rates across the entire sequence of intermediary swaps needed to obtain the destination tokens. - The minimum received amount is calculated from the estimated amount, taking into account the slippage tolerance set for this cross-chain operation. Both the estimated and minimum received amounts include all fees associated with the cross-chain exchange. Two Implementations While Exchanging a Token for BTC: Currently, the Symbiosis protocol supports two methods for exchanging a token for BTC: using the Symbiosis BTC bridge and using the ThorChain BTC bridge. For each token → BTC swap, Symbiosis WebApp compares both methods and shows the one that offers the best deal.
