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Swaps
Symbiosis WebApp user guide: Doing cross-chain swaps via Symbiosis WebApp.
Here, you can change the default values of the slippage tolerance and deadlines for your on-chain and cross-chain operations:
Enter new values and save changes.
- The Slippage Tolerance value means that a cross-chain operation will automatically cancel if the price change for this trade exceeds the specified value. Then you will get your assets back minus the transaction fee. The default value is 3%.
- The Trade Deadline means that a cross-chain operation will automatically cancel if the processing time exceeds the specified value. The default value is 20 minutes.
Cross-chain swaps are the core of the Simbiosis protocol. When you do a cross-chain swap, you exchange one token for another, and these tokens reside on different blockchains.
You can also do on-chain swaps via Symbiosis WebApp. Though, it's not so exciting.
You can check exchange rates for any token pairs without connecting your wallet. When you are ready, connect your wallet, and start exchanging!
Requirements to operate:
- You have enough native assets to pay for a transaction on the source network.
To perform a cross-chain swap:
- 1.
- 2.Connect your wallet.
- 3.In the Transfer from field, select the source token: the token that you have and that you would like to exchange:
- 4.Enter an amount. For instance, USDC on BNB Chain:
- 5.In the Transfer to field, select the destination token (the token that you would like to get):For instance, we chose MATIC on Polygon as the destination token of our swap:
Let's check together details of this cross-chain swap: - The displayed number of MATICs is the minimum received: the minimum amount you are guaranteed to receive from the trade; otherwise, the trade will cancel, and you will get back your assets minus the gas fee for the transaction. - Route is a sequence of intermediate swaps leading to the best price for the trade. In our example, it's USDC on BNB Chain -> BUSD on BNB Chain -> USDC on Polygon -> MATIC on Polygon. - Price is the value of one cryptocurrency for the purpose of conversion to another. - Slippage Tolerance means that the trade will automatically cancel if the price change exceeds this percentage. - Actual amount to be sent is the value of the entered token amount in the USD equivalent minus liquidity providers' fees (if any). - Destination network fee is the estimated transaction fee on the destination network in the stablecoin equivalent. The sum will be deducted from the transfer amount to cover expenses for processing the transaction on the destination network. - Price impact is the difference between the market and estimated prices due to the trade size. !! Recipient's address !! By default, the recipient’s address equals the sender’s address. To change the recipient's address, press on the gear icon next to the address, enter the new address, and save changes:
- 6.Change the recipient's address if needed: inter an address, and save the changes:
- 7.If you see the Switch network to <Network name> button, switch to the network by pressing the button and confirming the action in your connected wallet.
- 8.If you see the Approve <Token name> button, approve the token use by pressing the button and confirming the transaction in your wallet. As soon as the transaction is executed, the Swap button becomes available:
- 9.Press the Swap button, and confirm the transaction in your connected wallet:(You can close the window. It doesn't abort the transaction.) Block confirmation: The number of blocks indicates how many blocks have been added to the blockchain after the block with your transaction.
- 10.Finally, you get a confirmation.
Done
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