Swap
Last updated
Last updated
Launch the Scopuly mobile application on your device.
There are two ways to access the swap feature: - Directly: Tap on the “Swap” button at the bottom of the home page. - Via Wallet: Tap on the “Wallet” button at the bottom of the home page, then tap “Swap” within the wallet section.
The “Swap” window will open, presenting you with a form to fill out with the following details:
Source Wallet: Choose the wallet from which you want to swap assets.
Asset to Swap (You Pay): Select the asset you want to exchange or “swap” away.
Asset to Receive (You Get): Select the asset you want to receive in exchange.
Amount to Swap: Enter the amount of the “Asset to Swap” that you want to exchange.
Advanced Options (Optional): 1. Destination Address: You can specify a different Stellar address to receive the swapped assets. If you leave this blank, the swapped assets will be sent to the source wallet. 2. Memo: You can add a memo to the transaction. This is often used to identify a transaction or provide additional information to the recipient.
Slippage Tolerance (Optional): Slippage tolerance sets the acceptable price slippage for order execution. Price slippage refers to the difference between the expected price of a trade and the price at which the trade is executed.
A higher slippage tolerance percentage allows for a greater difference between the expected price and the executed price, which increases the likelihood of the swap being successful, especially in volatile markets. However, it also means you might receive slightly fewer assets than initially anticipated. A lower slippage tolerance percentage means you’ll receive closer to the expected price, but the swap might fail if the price changes too much before it’s executed.
Carefully review all the details you’ve entered in the swap form, including: 1. Source wallet 2. Assets to swap 3. Amount to swap 4. Destination address (if specified) 5. Memo (if specified) 6. Slippage tolerance Ensure that everything is correct before proceeding.
If you’re certain that all the details are accurate, tap the “Swap” button.
A “Confirm” window will open, summarizing the swap details. Review the information again to ensure accuracy.
Tap the “Swap” button to confirm the swap and proceed.
After a short processing time, you’ll see a notification confirming that your assets have been successfully swapped. Your wallet balance will be updated to reflect the swapped assets.