Token Swaps & Escrow
Frequently asked questions about TrustSwap's Token Swaps & Escrow
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Frequently asked questions about TrustSwap's Token Swaps & Escrow
Last updated
Was this helpful?
Was this helpful?
The Token Swaps & Escrow service allows users to swap any ERC-20 token with any person in the world. All coins are locked using our audited smart contracts and can only be withdrawn once both parties full their end of the agreement.
This is a very significant innovation as it eliminates high escrow fees charged by CEXs and DEXs.
Bob signs in the Token Swaps & Escrow service with a web3 wallet like Metamask.
Bob posts an open order at a specific price to swap his SWAP tokens for LINK tokens. He first enters the tokens and amounts to send and then enters the tokens and amount required from the recipient.
Bob enters the payment details.
Alice agrees to swap her LINK tokens for Bob's SWAP tokens at the specific price that Bob has placed, by logging in and confirming the swap details. Therefore, the swap is facilitated through a smart contract where both parties agree that they accept the transaction at the specific rate.
Fees can be paid in ETH (0.3%) or SWAP (0.15%). Swapping or trading SWAP is free.
The service is useful for OTC/Escrow deals and individual P2P deals.
It is a great tool for users wishing to avoid CEXs and DEXs which can be hard and expensive to use.
It can also facilitate P2P trading of SWAP tokens for free.
You can see your Incoming Trades here and your Outgoing Trades here.