Swap

In the world of cryptocurrency trading and decentralized finance (DeFi), a swap refers to the process of exchanging one token for another. Sometimes exchanging currency using a centralized exchange currency pair is not an option. Several altcoins and token swapping protocols and companies have emerged to facilitate decentralized token swaps using smart contracts. A common smart contract-based swap typically consists of both parties’ funds being custodied in a smart contract until the swap transaction is complete. Billions of dollars of cryptocurrency swaps occur each day globally, with companies like Uniswap and SushiSwap leading the market.