Tutorial EP I: How to Swap Stablecoins on Wombat Exchange?
Our protocol is going live very soon! Before the momentous Beta launch, we’ll share detailed tutorials on using our stableswap. This article is the first part of our tutorial series. Without further ado, let’s start with swapping.
First things first, connect your wallet
To get started on Wombat Exchange, you will need a wallet that supports BNB Chain. Currently, you can connect MetaMask and WalletConnect. The navigation bar is on the top right corner of the page, where the “Connect Wallet” button is located. Once you click it, simply choose which wallet you want to use.
If you haven’t connected to the BNB Chain before, you may add the network through Chainlist. Find “Binance Smart Chain Mainnet” within the page and click “Connect Wallet.” Click “Add to MetaMask” and approve on MetaMask.
How to swap?
1/ Choose the token pair you want to trade by clicking the token icon, which prompts the token selection menu to pop up.
2/ Enter the input or output amount in the field. You may also click “MAX” to trade all your token balance.
3/ Once you entered the token amount, details of the transactions will be displayed on the expandable card below the block, including:
Minimum Received: You can adjust the minimum received in the setting’s swap slippage tolerance option. Transactions will not go through if you’re unable to receive at least this amount.
Fee: 0.01% transaction fee is charged. This fee is reflected in the total amount displayed.
Price Impact: The difference between the market price and the approximated price caused by the trade.
4/ Once confirmed, click “APPROVE” to permit Wombat to access the asset. Once approved, click “SWAP” to confirm the swap. A pop-up window will appear showing details of the transaction. Confirm your action on the wallet app to go forward.
5/ Upon confirmation, the trade will immediately forward to a settlement stage. We suggest you keep your browser open during this period.
6/ Once the transaction is successful, you may view the details by clicking “View on BscScan.” Click “Done’ if you want to close the pop-up message and be redirected to the swap page.
Not a fan of reading? Check out our video tutorial on how to swap stablecoins on Wombat:
Tips and Recommendations
⭐️ Tip: You may adjust the Slippage Tolerance and Transaction deadline in the settings by clicking the icon at the top right corner.
Notice: The screenshots used on this post are for demonstration purposes only. Values are not accurately presented.
About Wombat Exchange
Wombat Exchange is a BNB native multichain stableswap focused on re-engineering the stableswap experience through its algorithm design. Wombat’s vision is to fuel DeFi growth and push boundaries with greater capital efficiency, accessibility, and scalability in a multichain world.
