Token Swap with Unstoppable Lite Wallet

The token swap feature lets you safely and easily exchange tokens within Unstoppable Lite Wallet without ever leaving the app. Swap is available for all supported blockchains: Ethereum, Base, Polygon, Solana, and Bitcoin. Powered by Swing, Unstoppable Lite Wallet scans hundreds of liquidity providers to optimize your swaps, ensuring you receive the lowest fees and fastest transactions.

In this article, we’ll guide you through using the Token Swap feature and answer common questions to help make your experience safe and enjoyable.

 What Is Token Swap?

Token Swap is a quick and easy way to exchange one cryptocurrency for another without going through centralized exchanges such as Coinbase, Kraken or Binance. By using liquidity providers governed by onchain smart contracts, Unstoppable Lite Wallet facilitates seamless token exchanges, saving you time and transaction costs.

With Token Swap, you can:

• Swap tokens across multiple blockchains.
• Maintain ownership of your tokens by avoiding centralized exchanges.
  
• Avoid the hassle of moving assets between wallets and exchanges.
• Benefit from competitive rates thanks to integrated liquidity pools.

An example

Consider the following hypothetical scenario. In your wallet you currently have $500 of ETH on the Ethereum blockchain and no other tokens. You want to convert $75 of your ETH balance to the USDC stable coin on the Polygon blockchain. Using the token swap feature within Unstoppable Lite Wallet, you can securely exchange $75 of your ETH balance and send it to the Polygon blockchain as USDC with just a few clicks.

Supported Blockchains for Token Swap

Currently, Token Swap in Unstoppable Lite Wallet is supported on the following blockchains:

1. Ethereum (ETH): Swap between ERC-20 tokens on the Ethereum network.
2. Base (ETH): Swap between ERC-20 tokens on the Base network, which offers fast and low-cost transactions.
3. Polygon (POL): Swap between ERC-20 tokens on the Polygon network, which offers fast and low-cost transactions.
4. Solana (SOL): Swap directly to Solana's native SOL token, known for its low fees and high transaction speed.
5. Bitcoin (BTC): Swap directly to Bitcoin, although Bitcoin swaps may be limited compared to other networks.

The following table describes the specific tokens and cross-chain swaps currently supported by Unstoppable Lite Wallet. 

How to Use the Token Swap Feature

Follow these simple steps to use token swap in Unstoppable Lite Wallet:

1. Open your Unstoppable Lite Wallet and navigate to the "Swap" section.
2. Select the Tokens: Choose a token from your wallet that you want to swap from and another token you want to swap to. For example, you have 100 POL in your wallet and you would like to exchange a portion of your tokens to SOL.
3. Enter the Amount: Specify the amount in U.S. Dollars you wish to swap. The app will display a quote to preview the estimated exchange rate, network fees and the time required to complete the swap.
4. Review the Details: Double-check all information, including the tokens, blockchain, fees, and estimated output.
5. Confirm the Swap: Tap the "Swap" button to initiate the swap.

Note: Some swaps might take a few minutes to complete, especially during network congestion. You will receive a notification when the swap is complete and funds have been deposited into your Unstoppable Lite Wallet account.

Fees and Network Costs

Swapping tokens is an onchain activity that requires the user to pay transaction fees. For example, suppose you want to swap $5 of USDC to SOL. Your transaction might consist of the $5 USDC you want to swap, plus an additional $0.15 fee to enable the transaction. Blockchain transaction fees may vary depending on:

• The selected blockchain (Ethereum and Bitcoin may have higher network fees, especially during peak times).
• The liquidity provider used for the swap.
• Current market conditions.

Unstoppable Lite Wallet includes an additional 0.85% fee on transaction volume, similar to other wallets such as Metamask, Phantom and Coinbase Wallet. For example, swapping $100 of ETH to BTC would result in $0.85 Unstoppable Lite Wallet fee as part of the transaction.

All estimated fees are shown in the quote before confirming the swap.

Tips for a Smooth Swap Experience

• Choose a blockchain with low fees: We recommend swapping tokens on Base, Polygon or Solana as they each have relatively low fees compared to Ethereum and Bitcoin. 
• Have Sufficient Gas Fees: Ensure that you have enough funds in your wallet to cover network transaction fees.
• Avoid Peak Times: Swaps on Ethereum and Bitcoin can be expensive during peak network times. If possible, use off-peak hours for lower costs.

FAQs

1. What if the token I want to swap isn't supported?

Unstoppable Lite Wallet currently supports native token swaps across all supported blockchains. Additionally, the USDC stable coin token is supported on Ethereum, Base and Polygon. See the table in the documentation above for a full list of supported tokens. Support for additional tokens will be added in future updates, so keep your app up-to-date to access the latest token lists.

2. What if I'm not able to retrieve a quote for the tokens I want to swap?

Quotes for token swaps are generated in real time and based upon current market conditions. Depending on your selected tokens and the amount you've requested to swap, there may not be a liquidity provider that is willing to service your request. The best resolution when you can't successfully get a quote is to change the amount you've requested to swap. For example, if you don't receive a reasonable quote when requesting to swap $10,000 of ETH to BTC, try reducing the amount to $5000 and try again.

3. How long does a token swap take?

The duration of a swap depends on the blockchain network’s current status. The estimated swap completion time is always shown as part of the quote. Note, some blockchains are inherently faster than others. For example, Ethereum and Bitcoin swaps may take longer during network congestion. On average, swaps on faster networks like Solana, Base and Polygon are completed within minutes.

4. Can I cancel a swap once it's confirmed?

No, once a swap is confirmed and submitted to the blockchain, it cannot be canceled or reversed.

5. Are there minimum or maximum limits on swaps?

Yes, minimum and maximum swap limits may apply, depending on the blockchain and liquidity provider. These limits will be displayed before confirming the swap.

Troubleshooting

If your swap isn’t processing as expected, try these steps:

• Refresh the app and check if the transaction status has updated.
• Ensure you have enough funds for transaction fees on the selected blockchain.
• If you’re still experiencing issues, please reach out to our support team.

About Swing

Swing, a unified cross-chain liquidity solution, is committed to empowering Web3 teams and developers by providing them with the tools they need to access decentralized cross-chain liquidity. Their unified cross-chain UX simplifies the development process and enhances the quality of cross-chain experiences. With Swing SDK, API, Widget, and No-Code tools, developers can seamlessly integrate liquidity from over 100 EVM and Non-EVM blockchains, bridges, and DEXes into their applications.

Need Help?

Our support team is here to assist with any questions or issues regarding your Unstoppable Lite Wallet. Simply submit a ticket using the button below, and our team will get back to you shortly.

Happy swapping!