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Use the cheapness, liquidity, and speed of spot trading to make AMM-like instant swaps.
Instant swaps allow users to quickly exchange one asset for another using a simplified AMM-like interface. When a user swaps one asset for another, a market taker order is instantly executed in the Spin spot order book, and the exchanged token is immediately transferred to the user’s wallet.
Instant swaps through Spin’s order book are ~3 times cheaper than swaps on AMM DEXes and usually have more accurate pricing even if larger-size trades are executed.
Users, who want to exchange one asset for another without interacting with the order book can use the Instant Swaps feature.
- 2.Connect your wallet.
- 3.Choose the assets you want to exchange.
- 4.Optionally click on a gear icon and adjust the slippage settings. This parameter represents the possible range of the number of tokens you will receive. For example, if the slippage is set to 1%, the total number of tokens could be 1% lower than the initial amount shown.
- 5.Click on the Swap button and approve the transaction.
- 6.Funds will be automatically transferred to your wallet.
The Instant Swaps feature interacts with the user’s wallet directly, without using the intermediary exchange account. Thus, assets held on the Spin account cannot be exchanged through Instant Swaps.
At the moment, users can swap any assets via USDC. For example, if the user wants to change NEAR to REF, it can be done within two steps: swapping NEAR for USDC and then swapping USDC for REF.
Shortly the Spin team will implement a feature for one-step swapping with advanced routing. That will allow users to exchange all assets listed on Spin in a single click.
If you prefer video guides, feel free to watch this Swapping Tutorial prepared by a member of the Spin community ;)