Doing Swap
Last updated
Last updated
Now that you have successfully added liquidity to a pool, let's move on to the next step: doing swaps. Swapping tokens on Soroswap allows you to exchange one token for another within the liquidity pool. Follow the steps below to perform a swap:
Visit the official Soroswap.Finance website.
Click the “Launch App” button on the homepage to access Soroswap’s decentralized platform. This action will direct you to the swap interface.
Choose a Stellar Wallet: Select a wallet compatible with the Stellar network. For assistance, refer to this article: Guide to Choosing a Stellar Wallet.
Acquire Stellar (XLM): Purchase XLM from a reputable exchange or transfer it from another wallet if you already possess some.
Deposit XLM into Your Wallet: Transfer the XLM to your Stellar wallet address.
If this is your first time, ensure you acquire and transfer Stellar (XLM) to your wallet.
Once your Stellar wallet is connected, familiarize yourself with the Soroswap dashboard. It displays your account details, token balances, and options for swapping tokens and managing your assets.
Select Tokens: Choose the tokens you wish to swap from and to.
Enter Amount: Specify the amount of tokens you want to exchange.
When swapping a new token for the first time on Soroswap.Finance, you’ll need to sign a "trustline" transaction. Trustlines authorize your account to hold and exchange the specific asset.
Transaction Request: A transaction request will be sent to authorize your wallet to hold and trade the new token.
Sign the Trustline Transaction: Sign the transaction to authorize the trustline, allowing your wallet to manage the new asset.
For more information, refer to the official documentation on trustlines.
Sign the Transaction: Your Freighter wallet will display the transaction details. Review and click “Approve” to confirm the swap.
Congratulations! You have successfully completed a swap on Soroswap.Finance Now.
After signing the transaction, it's important to confirm that everything went smoothly. To do this, check the details in your wallet or by using one of the blockchain explorers. This step ensures that the token swap has been completed and that the new tokens are now visible in your balance.
Once the transaction is confirmed, you’ll see a success message indicating the swap is complete. At this point, you can review the transaction details by selecting one of these options:
Sufficient XLM for Fees: Ensure your wallet contains enough XLM to cover transaction fees.
Review Trustlines: Confirm that all necessary trustlines are established before initiating a swap.
Check Transaction History: Verify in your wallet that the swap is complete and that the new tokens are reflected in your balance.
