So, what is the swap program on Xeta? Swap pools are automatically created for every fungible token that is minted on Xeta. Swaps enable anyone to exchange XETA for tokens and vice versa. This exchange process is fully decentralized, and prices are automatically determined based on the available XETA and token liquidity.
To trade a token, visit the swap pool page of a token and connect your wallet. You will be able to select the amount you would like to swap, as well as the input token. Once you confirm your transaction, you will receive the output token within a short period of time.
Swap pools are automatically created for every fungible token that is minted. These allow participants to swap tokens against XETA and vice versa in a decentralized way. The price is based on the liquidity that token creators and participants can contribute, and the trades that affect the liquidity.
Use Case: Decentralized exchange mechanism for fungible tokens
A swap pool is automatically created with the creation of every fungible token. Creators can add liquidity via a launch pool, or directly by depositing the pool tokens and XETA. The amount of deposited liquidity determines the price, which is determined by dividing the number of tokens available as liquidity by the amount of XETA available as liquidity. Participants can swap XETA for tokens or tokens for XETA. Transfers in and out are entirely handled by the program in an automated way, charging 0.25% commission on every trade and automatically adding 1% of the trade value to the pools’ liquidity.
Swap tokens into XETA or XETA into tokens at the current exchange rate.
Transfer from sender to pool,
Transfer from pool to sender
Token - XETA or the pool-token, to use as input token
Amount - Number of tokens to swap
Deposit XETA and tokens to liquidity at a specific rate.
XETA transfer from sender to pool,
Token transfer from sender to pool,
Liquidity deposit claim from pool to sender
TokenAmount - Amount of tokens to deposit
XetaAmount - Amount of XETA to deposit
Unlocks - Datetime when the deposit claim shall unlock
Allows withdrawing previously deposited liquidity tokens adjusted for the new liquidity rate.
Active liquidity deposit claim
XETA transfer from pool to sender,
Token transfer from pool to sender
Claim - Deposit claim hash
Percentage - Percentage between 0-1 to withdraw