Token Swaps & Escrow

Frequently asked questions about TrustSwap's Token Swaps & Escrow

What is the Token Swaps & Escrow service?

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 All coins are locked using our audited smart contracts and can only be withdrawn once both parties full their end of the agreement.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.

What is an example of a swap that could take place with this service?

1. Bob signs in the Token Swaps & Escrow service with a web3 wallet like Metamask.

2. 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.

3. Bob enters the payment details.

4. 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.

What are the fees paid to use the Token Swaps & Escrow service?

Fees can be paid in ETH (0.3%) or SWAP (0.15%). Swapping or trading SWAP is free.

For which activities is the Token Swaps & Escrow service useful?

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.

How can I see the history of my trades?

You can see your Incoming Trades here and your Outgoing Trades here.