Token Swap
| A token swap is a direct exchange of tokens between users or the migration of tokens from one blockchain to another. For example, a user may want to exchange their tokens for a different type of token that is more valuable, or they may want to migrate their tokens to a different blockchain that is more secure. Token swaps can be conducted manually or through a smart contract. If a token swap is conducted manually, it is often done through an exchange. For example, a user may exchange their tokens for another type of token on an exchange, or they may migrate their tokens to a different blockchain by transferring them to a different address. If a token swap is conducted through a smart contract, it is often done through a decentralized exchange. A decentralized exchange is an exchange that is not controlled by any central authority. Instead, it is controlled by a smart contract. This type of exchange is often more secure than a centralized exchange, as it is not subject to the same risks. Token swaps can be used to exchange tokens for other assets, such as fiat currency or other cryptocurrencies. They can also be used to migrate tokens to a different blockchain. Token swaps can be conducted manually or through a smart contract. If a token swap is conducted manually, it is often done through an exchange. If a token swap is conducted through a smart contract, it is often done through a decentralized exchange. |
Share this glosssary
