The Swap feature on BeeDex allows you to exchange one token for another seamlessly, directly from your wallet. With BeeDex, users can access all tokens available on the Loop Network, making token trading efficient, transparent, and user-friendly.
The Swap feature is the backbone of BeeDex and a critical tool for users engaging in decentralized finance (DeFi). Here’s why the Swap feature is so important:
Seamless Token Exchange Swapping tokens allows users to trade one token for another without relying on centralized exchanges. This decentralization ensures users maintain full control of their funds throughout the process.
Accessibility to All Tokens on the Loop Network BeeDex provides access to a wide range of tokens on the Loop Network. Whether you're trading popular tokens or newly launched ones, the Swap feature simplifies the process by allowing you to import any valid token on the network.
Liquidity Provision and DeFi Engagement Token swaps are essential for participating in other DeFi activities like liquidity provisioning, staking, or yield farming. By swapping tokens, users can acquire the assets needed to engage with various decentralized protocols.
Cost-Effective Trading Compared to centralized exchanges, BeeDex offers a cost-efficient way to trade tokens directly on the blockchain, avoiding deposit/withdrawal fees and enabling peer-to-peer transactions.
Transparency and Security Every transaction executed through the Swap feature is recorded on the Loop Network blockchain. This ensures complete transparency and eliminates the risks associated with centralized intermediaries.
Supports the Ecosystem Swapping tokens encourages liquidity flow within the Loop Network, supporting the ecosystem’s growth and enabling projects to thrive through active trading and engagement.
User Empowerment With BeeDex’s intuitive Swap interface, users of all experience levels can easily trade tokens. The process is streamlined to eliminate complexities, making decentralized trading accessible to everyone.
How to Swap Tokens on BeeDex
Navigate to the Swap Page
Open BeeDex and go to the Trade page (Swap tab).
Ensure your wallet is connected (e.g., MetaMask) and you have sufficient Loop tokens to cover the gas fees.
Select the Tokens to Swap
In the From field:
Choose the token you want to trade. By default, commonly traded tokens are displayed.
To trade a less common token, you can import it (see details below).
In the To field:
Select the token you want to receive.
Importing a Token (If Not Listed) If the token you want is not shown in the default list:
Obtain the Token Address: Copy the contract address of the token from a trusted source (e.g., Loop Network explorer or the token project's website).
Paste the token address into the search bar in the token selector.
BeeDex will display the token details. Verify the information and click Import to add the token to the list.
Enter the Swap Amount
Specify the amount of the token you want to swap in the From field. The system will automatically calculate the equivalent amount of the selected token in the To field based on the current market rate.
Review the Price Impact, Slippage Tolerance, and Fees displayed. Adjust the slippage tolerance in settings if needed to avoid failed transactions during volatile market conditions.
Review and Confirm the Swap
Double-check the token details, amounts, and transaction summary.
Click the Swap button. A confirmation screen will appear with the transaction details.
Confirm the swap in your wallet (e.g., MetaMask). This authorizes the smart contract to execute the trade.
Transaction Completion
Once confirmed, the swapped tokens will appear in your wallet.
All swap transactions are securely recorded on the Loop Network blockchain, ensuring full transparency and traceability.
Additional Features on the Swap Page
Token Price and Market Data
BeeDex displays the latest token prices and trading fees for better decision-making.
Slippage Tolerance
Adjust the slippage tolerance in the settings if your transaction is failing. Higher slippage tolerance allows for minor price fluctuations during the swap.
Last updated
