hybrix Feature Friday | July 24th

Every week we highlight a hybrix feature. This week we dive into: Swap Options

For some of our community swapping is not new. They have already seen the development of our swap system from the start, with the evolution of the user interface and buttons. In this feature friday we go over the different swap options to bring some clarity to their uses.

SEND, RECEIVE and MOVE

Using the hybrix wallet there are different ways to transfer your assets between ledgers. You are also able to access and use these different assets all from your wallet. The unique features of the hybrix ecosystem make it possible to swap and move value without even leaving your hybrix wallet.

What do the different options mean?

SEND

Let’ s say for example you have BCH and want to exchange it to another asset, like HY. The easiest way is by sending it out, in order to receive something else. This is called a send swap.
Once logged into your wallet, start by clicking your BCH asset and select SWAP. A new modal appears with three buttons. There you select SEND which enables you to select from a list an asset you would like to swap to (in our example: HY). Select next and enter the amount you want to swap, then click Next to review the deal and you are ready.

RECEIVE

If you know what you want to receive, and don’t mind with what asset to pay for it, you perform something called a receive swap.
Let’s say for example you want to get some BCH, but in your wallet you currently have some HY. Click on your BCH asset and then select SWAP. Now you click on RECEIVE. This enables you to select the assets you want to swap from. Enter the amount, review your swap deal and off you go!

MOVE

Essentially send swaps, receive swaps and move swaps are technically quite similar. However, if you want to swap with a 1:1 value ratio this is called a move swap. This is useful for ‘moving’ assets between blockchains. Essentially when you do this hybrix finds an allocator that is willing to do a 1:1 value exchange for you.
So how is a move swap done? First click on your HY asset and then click on SWAP. Now click MOVE. In the asset selection modal that follows you can determine between which chains the value is moved. In front of the dot is the base chain, behind the dot the token asset of that chain. For example TOMO.HY means HY on Tomochain. Now if you selected ETH.HY on the left, and TOMO.HY on the right in the asset selection modal, your move swap will move your HY tokens on Ethereum to Tomochain by swapping it with an allocator that offers that pair.

Wrapping It Up

While technically swapping is always executed in the same way (by estimating, proposing, and then the execution), the user interface makes understanding the value transfer process easier by giving you choice on how you want to use the swap mechanism. Let us know if you think this could be even easier, or if you have cool ideas that our swap system could be used for!