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August 29, 2024
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9
 min

How to swap assets?

Sea Will walks us through EXA Swap: a trustless, permissionless tool for seamless asset swaps on Algorand — fully audited and free to use!

What is EXA Swap?

EXA Swap is a trustless and permissionless peer-to-peer NFT trading tool. It allows users to swap assets seamlessly. The protocol is audited by RunTime Verification. Along with its clean user interface and UX, this is a free platform to use. You can swap any Algorand Standard Asset (such as ALGO, USDC, gALGO, goBTC, etc.), and you can swap any type of NFT (Non-Fungible Token).

How to Create a Swap (aka. I'm a Sender)

1. Sign in to swap.exa.market.
2. Your wallet address will appear under the "What I Send" section.
3. Select up to 4 assets you would like to send (a mix of fungible and non-fungible tokens).
4. Copy/paste the wallet address of the person you would like to trade with.
5. Once the wallet address is pasted, select the asset you'd like to swap your own assets with.
6. Click "Create Swap," review the information, and sign the transactions.
7. Copy/paste the generated URL and send it to your counterparty trader for them to complete the swap.
8. Wait for your counterparty trader to review the swap. ⏳

Note: You have the option to cancel the swap before your counterparty completes it.

How to Complete a Swap (aka. I'm a Receiver)

1. Sign in to swap.exa.market.
2. Check your notifications or follow the URL you received from your counterparty trader.
3. Review the swap and compare what you will receive with what you will send.
4. Click "Accept," review the information, and sign the transactions.
5. The new assets are now in your wallet! 🎉

Best Practices

- You can receive only one asset from your counterparty trader.
- You can select a mix of fungible and non-fungible tokens to trade.
- You can select from 1 to 4 assets to trade with your counterparty.
- Royalties/Creator fees apply to NFT-to-Fungible Tokens trades (considered classic sales).
- Royalties/Creator fees do not apply to NFT-to-NFT trades.
- Platform/Service fees do not apply to any swaps.
-FAQs

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