A detailed announcement of APISwap

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Hello, this is APIS Team.

We are pleased to introduce our new DeFi service: APISwap.

Please refer to the detailed information and user guide described down below.

Let us show you how to use our service.

[Basic]

APISwap provides a 1:1 on-chain swap service with a fixed quantity and ratio using smart contracts.

The swap maker determines tokens that they want to swap and adds order to the appropriate trade pair regarding their quantity. If you have enough tokens for the swap, after allowing the contract to move the token, you can successfully create a swap order. Its swap order can be executed by all users until you cancel it by yourself.

The swap taker can execute orders that meet their requirements among swap orders created by swap makers. The token exchange will be carried out at a predetermined rate. Since the maker has given the contract the right to move the token in advance, the swap will proceed immediately only if the maker has enough tokens.

Our service provides the advantage of minimizing transaction fees and accurately predicting swap execution results by a simplified logic configuration. This is because only one swap order can be executed at a time with a fixed adjustment rate.

Since it is distributed on Ethereum Mainnet, it can be swapped using private wallets such as Metamask. Transactions between Ethereum network-based ERC-20 tokens: APIX, WETH (Wrapped Ether), and wDASH (Wrapped DASH) are allowed.

The pairs provided at launch are APIX-WETH, WETH-APIX, and WETH-wDASH. We will add the remaining wDASH-linked pairs as soon as APIS Platform supports wDASH withdrawal.

APISwap’s swap fee rate is 0%, and a certain amount of Ethereum Mainnet transaction fee may be charged.

  • Note: Please make sure if the token, ratio, etc. are correct when performing the swap. APIS Team is not responsible for any situation caused by users’ mistakes, errors, and improper use. Also, it is recommended to check the domain and smart contract address to prevent phishing.

[User Guide]

1. Getting Started

Use your desktop browser to access the APISwap main page (https://swap.apis.eco) to view the above screen.

On the main page, you can search and create swaps. Select token pairs you want and create swap orders or search for executable swap orders in those pairs.

  • If you see a notice about a Metamask connection or no swap information showing up, install Metamask in your browser in advance and proceed with the connection as shown in the picture above.

2. To create swaps (For the Maker)

Press the “Create Swap” button in the desired pair to navigate to the Create Swap Order page.

You can enter the number of tokens after checking the number of tokens you want to use and receive through the swap. You can press the “Apply Data” button to verify that all the conditions for creating swap orders have been met.

To create a new swap order, you must have enough tokens as you want for the swap (1) and should allow the APISwap smart contract to move the tokens on your behalf (Approve 2).

If the conditions are not met, the ”X” mark will be displayed on the individual conditions, and a warning will also be shown on the “Create Swap” button.

To meet the conditions, you can press the “Apply (Token) Allowance” button to enable as much as you need for the swap. It is also possible to initialize the allowance by pressing the “Remove (Token) Allowance” button.

If all conditions such as allowance, reserves, etc. are satisfied, a “V” mark appears on the individual conditions, and the “Create Swap” button will be displayed. Press this button to create swap orders for the specified quantity.

Once a swap order has been successfully created, you can search for it in the opposite pair from a Taker’s point of view. Press the “Swap” button to navigate to the Order Details page.

On the Order Details page, you can check the details of the swap order again, and if you want to cancel the order you have created, you can cancel the swap order by pressing the “Cancel Swap” button.

3. To execute swaps (For the Taker)

After selecting desired swap pair, press the “Search Swap” button to navigate to the Swap Order Search page.

On this page, you can quickly check swap orders created by swap makers. The status of the order, the swap quantity and rate per token, and the current market price for each token will be also displayed.

If you do not have a swap order with the desired conditions, you can also create a swap order yourself by pressing the “Create Swap” button.

If you have a swap order that you want to execute, you can click the “Swap” button for more detailed information.

To execute a swap order, you must have enough tokens for the swap (1) and should allow the APISwap smart contract to move the tokens on your behalf (Approve 2).

If the conditions are not met, the ”X” mark will be displayed on the individual conditions, and a warning will also be shown on the “Create Swap” button.

To meet the conditions, you can press the “Apply (Token) Allowance” button to enable as much as you need for the swap. It is also possible to initialize the allowance by pressing the “Remove (Token) Allowance” button.

The makers should maintain conditions when a swap order is created to enable the execution of the swap. You can also check on the same page to see if the conditions have been met.

To meet the conditions, you can press the “Apply (Token) Allowance” button to enable as much as you need for the swap. It is also possible to initialize the allowance by pressing the “Remove (Token) Allowance” button.

If all conditions such as allowance, reserves, etc. are satisfied, a “V” mark appears on the individual conditions, and the “Take Swap” button will be displayed. Press this button to create swap orders for the specified quantity.

If the swap order has been successfully executed, the token swap will proceed between the makers and the takers. On APISwap interfaces, the swap status will be shown as Finished (Closed).

In addition, you can view the history of execution and token transfers by querying swap transactions using Etherscan, etc.

If there are any updates or changes to APISwap, we will notify you via further notice.

Also, if you experience any problems or have any questions while using our service, please contact us through official email or telegram.

Thank you.
APIS Team

APIS Official WebsiteAPIS PLATFORM(apis.mn)

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