Decentralized Exchanges (DEXes) are the primary marketplaces in decentralized finance (DeFi) that are hosted on the blockchain. They allow users to swap or trade their favorite tokens on a peer-to-peer (P2P) basis.
- From the home screen of Lif3 Wallet, go to the "Quick Action" tab.
- On the pop-up menu, choose the "Swap" option, which will redirect you to Lif3 Swap through the browser tab.
- Choose the token you want to swap from (i.e. sell) and the token you want to swap to (i.e. buy). Enter the amount of tokens you want to sell/swap in the input box, and the output amount box will auto-populate with the equivalent tokens at current market rates.
- If this is your first time swapping a token, you will need to make an approval transaction, allowing Lif3 Swap to access the funds on your wallet. Press the "Approve" button, and once the transaction is successful, the "Swap" option will become available.
- Press "Swap", and confirm the transaction on your wallet.
- Check your wallet home page or use the Activity tab to see whether the transaction was successful and that you have received your new swapped tokens.