2-Step Intrachain Swap (Token to Token)
The Intrachain swap is an enhanced exchange mechanism from the Atomic Swap that allows users to seamlessly exchange one cryptocurrency for another within the same blockchain network.
Riverex joins the development, providing a more efficient and cost-effective trading method with its new Intrachain Swap involving only two steps!
Here’s a step-by-step guide on how to execute a 2-Step Single Chain Swap on the Riverex platform.
Ensure your wallet is connected to the platform. On the menu board of the Riverex platform, select My Swaps under the Peer-to-Peer tab.
Then click Create Swap Request.
By default, the transaction selection is Token to Token.
Select the networks of your chosen tokens to be swapped.
Select the assets you want to swap and enter the values accordingly.
Note that the total value/balance in your wallet will be displayed upon selecting the asset, preventing you from entering values more than what is in your wallet.
*If the preferred token is not on the list, paste the token address on the search bar, and the platform will extract the details stored from blockchain explorers. Then click Import Token.
Additionally, your wallet address will be automatically linked under the address section, which can be modified or edited
Note that for Riverex Intrachain Swap transactions, users are charged a set platform fee of 0.03%
Enter the referral code to receive WELLE tokens as rewards.
If you do not have one, you can generate your code and share it with friends and family.
You will be rewarded with WELLE tokens if they successfully complete a transaction using your code. More details on referral codes can be found on our Earn Rewards Page.
Then, set the timer for the swap. Ensure that whatever you select is sufficient for both parties to execute the transaction. Then click Generate Swap Link.
Note that by clicking Generate Swap Link, your funds are locked and will only be transferred once the other party approves and accepts the transaction.
Set your token spending allowance; this allows or permits your wallet to execute existing and future transactions.
Review and confirm the transaction gas fees.
Click the COPY icon to share the link with anyone through various media channels.
Click the SHARE icon to send the link to any of your chat rooms created/joined in the Riverex platform.
Then click the GO TO SWAP icon.
Once you generate the swap link and confirm the transaction fees, the contract has been created, and the timer starts.
Wait for the other party to approve your swap request.
Once USER B clicks your swap request, he will have complete details of the tokens you want to swap.
Like USER A, USER B can also input a referral code (if any) to receive WELLE token rewards.
Upon clicking Approve, USER B will be directed to the transaction page and click Swap.
USER B also needs to set the spending limit of his tokens before confirming/approving the transaction gas fees for the assets he wants to swap.
Both parties have now successfully swapped their tokens!
Navigate through the Peer-to-Peer Page (My Swaps) to view the details of all the transactions executed and click the appropriate tabs (All, Open, In-Progress, Successful, Cancelled, and Failed).
Our support team is always ready to assist if you have any difficulties or queries on the process.