Shibaswap is a new, decentralized finance platform that is based on everyone’s favorite meme dog breed, the Shiba Inu! There are six basic functions to the Shibaswap platform: DIG, NFTS, BURY, SWAP, BONEFOLIO, and WOOF. Today, we’ll be looking at the SWAP function, so here’s how to swap tokens for other tokens in Shibaswap: SWAP!
How to Use Shibaswap: SWAP
To get started on Shibaswap, you’ll need to create or already own a compatible Ethereum crypto wallet. You can choose one of these three wallets:
After you’ve set up your wallet with your chosen site, please make sure to back up your secret/recovery wallet phrase. Try not to use a digital recording of it, and instead write it down on a physical piece of paper. If malicious attackers get a hold of your phrase, your wallet will be compromised. Once you’ve funded your wallet to cover transaction fees, you’re ready to go!
Shibaswap’s SWAP function allows users to, unsurprisingly, swap your Shiba tokens (BONE, LEASH, SHIB) and miscellaneous tokens for other tokens on the Ethereum network. To get started, tap on the Swap Tokens button in the SWAP window on the Shibaswap main home page.
You’ll be presented with a conversion calculator. In the top box, select a token from the dropdown menu, then select the type of token you want to convert to in the bottom box. You’ll be shown some info about the current exchange rates, so make sure you study everything before you commit.
Additionally, if you tap on the cog in the top right corner of the conversion window, you can access the settings. Here you can examine potentially helpful aspects, like the slippage tolerance and some other settings. However, unless you know exactly what you’re doing, we recommend leaving the settings in here alone.
That’s how you use the SWAP function on Shibaswap. If you have any other questions, let us know in the comments below, and don’t forget to check out the help section on the Shibaswap website for some valuable info.