FAQ
What is Swaps.io dApp?
Swaps.io is a peer-to-peer platform that connects users and Intent Agents, bridging liquidity between decentralized finance (DeFi) and centralized finance (CeFi) ecosystems.
What benefits do users gain from Swaps.io dApp?
Users can enjoy fast, secure transactions at the best available rates.
What benefits do Intent Agents get?
Intent Agents have the ability to construct their own trading strategies and earn income from transactions.
Does Swaps.io Protocol use wrapped tokens?
No, users interact on-chain with Intent Agents and do not need to create extra virtual assets.
Why work directly with Intent Agents instead of using AMMs?
Working directly with Intent Agents eliminates slippage and ensures guaranteed transaction execution, unlike automated market makers (AMMs).
How is the security of the user's swap ensured?
For each transaction, an Intent Agent must reserve collateral larger than the order size, ensuring security of user funds.
How is the execution of the order and rate guaranteed?
Orders are backed by the Intent Agent's collateral. If the Intent Agent does not execute the order, it is liquidated automatically.
Does the user need to provide a proof that the transaction was not completed?
No, liquidation occurs automatically.
Can the user receive the asset in another network?
No, the liquidator swaps the collateral for the asset that the user expects.
Why will liquidation occur on time?
The collateral is liquidated with a commission for the liquidator. The first to detect a debt and initiate liquidation earns income. Liquidators compete in speed to earn income.
Why are Swaps.io dApp's prices more favorable?
Because there is no need to pay validators, Swaps.io employs an optimistic scenario where transactions occur directly between Intent Agents and users without additional expenses, resulting in significant gas optimization.
What is an optimistic scenario?
In an optimistic scenario, proof costs are only incurred if a liquidator creates a proposal stating that the Intent Agent did not complete the transaction.
How do Intent Agents set prices?
Intent Agents compete with each other on price and offer the best rates. The order is given to the Intent Agent that offers the most favorable rate.
Can I provide liquidity to Swaps.io Protocol?
You cannot provide liquidity to Swaps.io Protocol itself, as it does not store liquidity. However, you can provide liquidity to the specialized Liquidity Pool, which offers multi-chain over-collateralized loans to Intent Agents that might want to use it.
What are the fees in Swaps.io dApp?
Swaps.io dApp does not charge any fees. The protocol is fully decentralized and non-profit. Intent Agents set their own fees independently.
How does Swaps.io dApp differ from other projects that offer cross-chain swap solutions?
Swaps.io Protocol offers users several advantages that set it apart from other existing solutions:
Fixed Rates
With Swaps.io Protocol, users can forget about price slippages and associated losses. Intent Agents guarantee the execution of instant transactions at fixed prices, providing sufficient collateral for each swap.
Instant Execution
The execution of transactions occurs at the speed of an on-chain transaction, 3-5 seconds, depending on the network. This is possible because Swaps.io Protocol does not rely on third-party validators, utilizing zero-knowledge proofs.
Gasless Flow
With Swaps.io Protocol, users can forget about gas payments. They only provide approval to the Intent Agent, and then the latter conducts a non-custodial p2p swap, receiving the user's asset and giving back the agreed-upon asset. The Intent Agent covers all gas costs, taking the corresponding amount from the user's original token.
This is not a final list, though. The more Swaps.io dApp develops, the more unique and helpful features it gets.
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