Welcome to OraiDEX's Universal Swap tutorial, part of our ongoing series. In our "Development Focus Series," we delve into the exciting features and advancements within the Oraichain ecosystem. Now, as part of "AI x Blockchain Savvy: A series on Creative Web3 Features at Oraichain," we bring you this tutorial to help you unlock the power of Universal Swap—a feature designed for seamless cross-chain trading.
What is Universal Swap?
Tired of complex multi-step processes for cross-chain swapping? Universal Swap, a groundbreaking feature introduced by OraiDEX to enhance the cross-chain trading experience, makes transactions easy with just one click.
A Seamless "One-Click" Cross-Chain Swaps
Universal Swap fundamentally changes the way we move assets across chains. Traditionally, this process involved a series of intricate steps, from asset bridging to multiple confirmations, often leaving users with a sense of unease. With Universal Swap, this complexity is stripped away. Imagine being able to switch your digital assets between different blockchains as easily as flipping a light switch. This would reduce the number of steps required for a cross-chain swap, minimizing the complexity and time it takes to complete the transaction. Say goodbye to manual asset bridging.
Unifying Fragmented Liquidity
In the fragmented world of crypto liquidity, finding the best trading opportunities can be like searching for a needle in a haystack. Universal Swap acts as a beacon, bringing together fragmented pools of liquidity scattered across various blockchains. No more hopping between exchanges and networks; it's all seamlessly accessible from one place.
More trading options and a streamlined user experience, these are the cornerstones of Universal Swap's mission to make crypto trading more accessible and user-friendly.
Setting the Foundation for AI-Enabled Multi-Chain DeFi Strategies
Universal Swap isn't just about simplifying cross-chain trading; it's also setting the stage for a new era of decentralized finance (DeFi). By integrating Artificial Intelligence (AI) into its functionality, Universal Swap is unlocking the potential for more sophisticated DeFi strategies.
Imagine having a trading companion that learns from the market, analyzes data, and executes trades on your behalf with precision. Universal Swap aims to provide just that, leveraging AI to optimize your trading experience. It's like having a trusted ally in the crypto world, making sure your assets work smarter and harder for you.
This integration of AI doesn't just enhance efficiency; it also reinforces security. AI algorithms can quickly identify potential threats and anomalies in the market, helping to safeguard your assets. With Universal Swap's AI-enabled capabilities, you can trade with greater confidence, knowing that cutting-edge technology is on your side.
Under the Hood: The Mechanics of Universal Swap
To grasp how Universal Swap operates, let's take the example of swapping ETH on Ethereum for AIRI on the Oraichain mainnet. For users, this process is a smooth and straightforward one-step transaction.
Behind the scenes, the protocol manages a sequence of actions:
- ETH is converted to ORAI on existing Ethereum-based liquidity pools.
- OraiBridge swaps ORAI (ERC-20) into ORAI (native).
- ORAI (native) is then exchanged for the AIRI (native) on the Oraichain network.
What makes Universal Swap truly special is its ability to simplify trading. Rather than a complex process with multiple steps, it's like a straightforward path. This saves time and keeps things simple. You don't have to be concerned about losing value due to complicated trades. It's trading made incredibly easy. Take a look at the visual illustration below to understand Universal Swap's underlying mechanics.
Performing a "One-Click" Cross-Chain Swap
Let's dive into how you can perform a "one-click" cross-chain swap using Universal Swap:
First, go to https://oraidex.io/.
Proceed by logging in to your OraiDEX account via supported wallets: OWallet, MetaMask, Keplr, or TRONlink.
Navigate to the “Universal Swap" Feature
On the main page, click the Universal Swap feature in the left sidebar.
This will take you to the Universal Swap page, where you can swap assets across sovereign EVM and IBC networks with just one click.
Select Your Assets
To swap tokens, click on the arrow button on the "From" and "To" boxes to select the assets you want to swap.
Tokens available for Universal Swapping:
- On Osmosis: OSMO
- On Cosmos Hub: ATOM
- On Ethereum: ORAI, USDC
- On Tron Network: USDT, wTRX
- On BNB Chain: ORAI, AIRI, USDT, WBNB, BNB,
- On Oraichain: ORAI, ATOM, USDT, USDC, OSMO, ORAIX, scORAI, wTRX, scATOM
and more tokens to be added in the future.
Next, enter the amount of tokens you want to swap in the corresponding boxes, or click the "Max" or "Half" button for automated calculation.
Confirm and Execute the Swap
Review the details of your swap, including the assets involved and the exchange rate. Then, click on Swap and sign the pop-up of your wallet to confirm the transaction.
That's it! The user-friendly interface makes asset selection a breeze. Behind the scenes, the protocol orchestrates a series of secure steps to complete the swap seamlessly.
OraiDEX is committed to providing users with the best possible cross-chain swapping experience. With Universal Swap, users can now seamlessly swap assets across sovereign EVM and IBC networks with just one click. OraiDEX plans to expand the list of supported assets and networks in the future, making it the go-to platform for cross-chain swaps. Let us know if you have any other questions via social media channels.
Stay tuned for more tutorials and dive deeper into OraiDEX's features to make the most of your trading journey. "AI x Blockchain Savvy: A series on Creative Web3 Features at Oraichain" is your handbook to navigate the Oraichain ecosystem effortlessly.
Start swapping seamlessly today with OraiDEX’s Universal Swap! 👉https://oraidex.io/universalswap
Disclaimer: Please note that this post is intended for educational purposes only and should not be considered as financial advice. It is important to conduct your own research before making any investment decisions.
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