Comprehensive Guide to Token Swapping on GalaChain via GalaSwap - Blockchain.News

Comprehensive Guide to Token Swapping on GalaChain via GalaSwap

Caroline Bishop Jun 26, 2024 15:00

Learn how to use GalaSwap for seamless token swapping on the GalaChain network. Follow this detailed guide to create and find offers easily.

Comprehensive Guide to Token Swapping on GalaChain via GalaSwap

GalaSwap, a new platform for direct token swapping on GalaChain, is set to revolutionize the way users exchange tokens within the network. According to Gala News, GalaSwap enables seamless exchanges between $GALA, $MTRM, and newly created community project tokens.

Getting Started with GalaSwap

To begin using GalaSwap, users must log in at GalaSwap.gala.com using their Gala account credentials. Even if already logged in on another platform site, a separate login for GalaSwap is required.

Creating an Offer on GalaSwap

  1. Navigate to the Create Offer Page: Go to the main swap page and click Create Offer or use the Create Offer button under the account icon in the top right corner.
  2. Fill in the Offer Details:
    • Offering: Select the token type and amount you want to offer.
    • Wanted: Select the token type and amount you want in return.
    • Gas Fee: Specify the $GALA amount required to create the offer.
    • Switch Button: Swap the offering and wanted tokens if needed.
  3. Finalize and Create the Offer:
    • Once the necessary details are entered, click Create.
    • Enter your GalaChain wallet’s Transfer Code.
    • Your offer will now appear on the main swap site under Active Offers. Notifications will be sent when your swap is accepted.

Searching for an Offer on GalaSwap

  1. Log In and Search:
    • On the main swap page, fill in the Offering and Wanted fields.
    • Click the Search button to find matching offers.
  2. Review and Accept Offers:
    • When an offer is found, the following details are displayed:
      • You Give: The token amount you will give.
      • Exchange Rate: The rate of the swap.
      • You Receive: The token amount you will receive.
      • Gas Fee: The $GALA required to accept the offer.
    • If the swap is acceptable, click Swap.
    • Enter your GalaChain Wallet’s Transfer Code.
    • The swap process will begin, and a Swap Succeeded prompt will appear upon completion.

Additionally, every token swap on GalaSwap rewards users with $GSWAP tokens, enhancing the overall user experience. For more detailed support, users can refer to the GalaSwap Support Guide.

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