What is CoreSwap?
CoreSwap is a DeFi (Decentralized Finance) protocol for creating liquidity and trading ERC-20 tokens on Ethereum. It benefits from the Hybrid Swap technology which enables the users to trade and swap various ERC-20 Tokens between a diversified range of DeFi platforms, including ,CoreSwap Sushiswap, and CoreSwap. It eliminates trusted intermediaries and unnecessary forms of rent extraction, allowing for fast, efficient trading. Where it makes tradeoffs decentralization, censorship resistance, and security are prioritized.
If you want to dive into details check out the docs.
How do I use CoreSwap?
First, you’ll need an Ethereum Wallet and some ETH. Once completed, head over to the app to start using the protocol to provide liquidity or swap tokens. Remember that each transaction on Ethereum costs ETH (this is called the “gas fee” and it’s paid to miners to keep the network running).
How Does CoreSwap Work?
CoreSwap is a Hybrid DeFi Protocol which means it enables swapping, trading, saving and lending of various DeFi assets. Every function of CoreSwap has its own specific characteristics and operations which provides the users with an extensive range of opportunities for profitability.
How Does Swap Work on CoreSwap?
CoreSwap is an automated liquidity protocol. In practical terms, this means there are template smart contracts that define a standard way to make liquidity pools and corresponding markets that are compatible with each other. There is no order book, no centralized party and no central facilitator of trade. Each pool is defined by a smart contract that includes a few functions to enable swapping tokens, adding liquidity and more. At its core, each pool uses the function x*y=k to maintain a curve along which trades can happen. The pools keep track of reserves (liquidity) and update those reserves every single time someone trades. Because the reserves are automated rebalanced a CoreSwap pool can always be used to buy or sell a token without required a counterparty on the other side of your trade.
For a more in-depth description. Check out “How Swap Operations Works” from the documentation.
What Is the Difference Between Trade and Swap on CoreSwap?
As mentioned earlier, in Swap operations there is no order book and everything is managed by standard smart contracts (for more info, please read the Q: How Does Swap Work on CoreSwap?).
However, in Trade, there is an order book that indicates the “Bid” and “Ask” prices by active users. Since Trade operations on CoreSwap can only take place when the user wallet is connected to the order book, as the result, there is no manipulation, no fake order, and or unavailable order on the order book.
The users can trade the listed assets based on the active pairs (e.g. ETH/USDT) based on “Market” and “Limit” orders.
The trade operations enable the users to trade and exchange the DeFi assets without need to the access to the liquidity pools.
How Are Prices Determined in Swap?
Prices are determined by the amount of each token in a pool. The smart contract maintains a constant using the following function: x*y=k. In this case x=token0, y=token1, and k=constant. For each trade, a certain amount of tokens are removed from the pool for an amount of the other token. To maintain k, the balances held by the smart contract are adjusted during the execution of the trade, therefore changing the price.
How Are Prices Determined in Trade?
Prices are determined based on the latest Bid and Ask prices matched on the CoreSwap order book. The trade prices may vary from the prices on the Swap operations.
I saw a token was trading at X value, but when I traded on CoreSwap I got a much lower value! Why?
Websites that show token prices, like eitherscan.io or coinmarketcap.com, typically aggregate price data from multiple sources. Some of these sources can be inaccurate, especially regarding new or low volume tokens. If a website or app says a token is worth more than what it shows on CoreSwap, it is due to the website’s inaccurate data sources. Always check the exchange rate on the CoreSwap.app before trading.
Why Is My Swap Failing or Stuck?
You might be trying to swap a fee on transfer or deflationary token. If so, you have to increase your allowed slippage to account for the fee taken during the swap. Click on the gear for settings and adjust Slippage tolerance accordingly.
Otherwise, if your transaction is taking forever or stuck pending the gas included might be too low and the transaction will not be processed. You probably need to speed up or cancel the transaction in your wallet.
* Fix stuck transactions in MetaMask: https://metamask.zendesk.com/hc/en-us/articles/360015489251-How-to-Speed-Up-or-Cancel-a-Pending-Transaction
* Fix stuck transactions in trust wallet: https://www.publish0x.com/the-crypt/quick-guide-to-fixing-stuck-ethereum-transactions-xgdvgkv
Why Is My Approve Stuck?
If you speed up an approve, CoreSwap can’t detect the new transaction. Open your wallet in the interface and click “clear all” then try refreshing the page.
How Do I Find X Token on CoreSwap?
If you can’t find a token in the default list, find the token address using etherscan.io and paste that address into the search field.
How Do I Add a Logo For a Token?
CoreSwap pulls from the Trust Wallet asset repository on GitHub (https://github.com/trustwallet/assets). Add your token icon to that repo and it will appear on the frontend.
How Can I Add a Token to CoreSwap?
CoreSwap is compatible with any ERC-20 token in the Ethereum ecosystem. If you want your project to be searchable in their interface you should seek to be added to a reputable token list or share a link to your token using query parameters. Once loaded via a link, the token will be added to their interface.
Another option is to open a request using GitHub issues.
The CoreSwap team makes no guarantees or provides any timeline. Nor will the team ever charge or request funds. We’ve added many UX features to make it easier to share a new token with communities like local storage support and custom linking. Please make use of them.
Why Does my Transaction Cost X?
Ethereum requires gas to execute each transaction. You can also check ETH gas station for the current prices required to complete transactions. Creating a CoreSwap pool is a slightly costlier transaction because you are executing a more complex smart contract. Read more about how gas works in Ethereum.
How Can I See My Liquidity Provider Fees?
There are many community-built tools like https://www.zapper.fi/dashboard and https://zerion.io/. CoreSwap provides no guarantees with the information on these sites is correct.
I Accidentally Transferred Tokens Directly to a Pair Contract, Is There Anyway I Can Get Them Back?
CoreSwap token pair contracts are ownerless. We have no special control over the pair contracts’ functionality; because of this, any tokens accidentally transferred to the token contract itself are lost forever.
I Updated My Token via a Proxy Contract, But the CoreSwap Information Page Is Showing the Old Symbol / Name!
CoreSwap reads the details of new tokens when they’re added to the subgraph. There may be some circumstances where an old symbol or name isn’t updated if the token was updated with a proxy contract. A guide to fix this yourself is forthcoming, in the meantime, reach out with the details on our developer discord.
My Swap Failed With Code “EXPIRED”, What Happened?
If a swap takes more than 20 minutes to execute, the router is programmed to fail the transaction. This is to protect the user from extreme swings in prices that can occur while the transaction is pending. If this happens, your tokens will still be in your wallet, but the gas fees paid are not recoverable. To keep this from happening, use a high enough gas price to have your transaction mined in under 20 minutes. This usually falls under “Standard” or “Fast” in most gas price calculators.
CoreSwap Tools and Resources?
Visit CoreSwap GitHub Page by https://github.com/coreswap