Bitswap
Bitswap operates as an automated market maker (AMM) that provides token swap functionality and liquidity provision. The formula is simple: x * y = k. Prices are determined by the amount of each token in a pool, with x and y representing the two tokens in a liquidity pool. No intermediaries are needed. Bitswap allows your club to have its own decentralized exchange (DEX).
Users who interact with Bitswap within a BounceClub can swap any supported tokens and manage liquidity. Each transaction made in the liquidity pool incurs a 3% fee based on the token swap volume.
How to swap tokens using Bitswap as a BounceClub member
First, sign in by connecting your wallet.
Head to the BounceClub that you want to engage with. If they've added Bitswap to the club, you can click on the Bitswap icon to get started.
Select the tokens you want to swap from the supported tokens.
Enter the amount of tokens that you want to swap.
Double check the amounts of tokens you're paying and receiving. Then click "Confirm Swap" to complete the transaction.
Once your transaction is processed, you should receive a "Transaction Confirmed" notice.
Last updated
