Two-way Token Swaps Explained
As we have already mentioned in our previous tutorials, migrating tokens to custom blockchains could be challenging and time-consuming. ChangeNOW already has a solution for that: our Token Swap service! It is designed specifically to help with token migration and everything related to it. ChangeNOW’s Token Swap service takes care of all of the technical details of the migration process for you.
Why would you, as a foundation, want to migrate your token to another blockchain with ChangeNOW? Our main advantages include:
- we build every solution to suit your needs specifically
- we take care of the whole swap process, from the beginning till the very end
- we provide your community with a hassle-free way of migration (just in a few clicks)!
What if you want your token to operate on not just one blockchain but two, though? For example, we made a similar decision with our NOW Token: half of the total supply had been burned on the Ethereum blockchain and re-issued on the Binance Chain. The same story happened with AWC tokens: half of the total supply is operating on ERC20 standard and the other half — on BEP2.
Having more options is always great but what if you made a rash decision and swapped your tokens without thinking? Or if your circumstances have changed and you are in need of the tokens of another standard?
ChangeNOW is ready to please! We introduce you to the Two-Way Token Swap: migrate your tokens from one blockchain to another back and forth as much as you want and need.
Let’s see an example:
How to Swap NOW (BNB) back to ERC20
1. Open the swap page
2. Enter the desired amount, press Swap
3. Put in the recipient’s address
4. Check everything carefully! Then, click Confirm.
5. Send the indicated amount of tokens to the provided address.
Step 1. Open the swap page
Open the https://changenow.io/swap/now-token/ page.
Step 2. Enter the desired amount, press Swap
Enjoy the unique possibility to conduct a swap at 1:1 rate! Please, DO NOT FORGET TO ADD A MEMO!
Step 3. Put in the recipient’s address
It is the address that will receive the swapped NOW Tokens. If you do not have a wallet suitable for ERC20 tokens click “Don’t have a wallet yet?” above to start using a trusted wallet service.
Step 4. Check everything carefully! Then, click Confirm.
Take your time to double-check the address and deposit amount. It is extremely important to make sure that your swap has an Extra ID (memo)!
Step 5. Send the indicated amount of tokens to the provided address.
As usual, you can use the conventional address or a QR-code.
To have a similar custom solution made for your token, please contact (at [email protected]) our BD manager.