CoinmarketCap has launched a new token swap feature
Uniswap will be the first decentralized exchange integrated by CoinmarketCap for token swaps on Ethereum
Wallets supported by Uniswap will be available for users of the Coinmarketcap Tokens Swaps
CoinmarketCap aims at having token swaps for every blockchain network and token
The popular decentralized exchange of Uniswap has been integrated on CoinmarketCap for its new token swap feature. Uniswap becomes the first DEX to feature on CoinmarketCap’s Token Swap function for users to swap their favorite Ethereum tokens from the tracking website.
The team at Uniswap expressed their enthusiasm for the new integration on CoinmarketCap as demonstrated in the following Tweet.
🚀 We're incredibly excited to see Uniswap integrated natively into @CoinMarketCap
🔥 Token pages now have a "Swap" icon allowing users to connect to an Ethereum wallet and instantly trade that token through the Uniswap protocol
Wallets Support by Uniswap will be Available for the CoinmarketCap Token Swap
According to the official announcement, both Uniswap V1 and V2 will be supported on CoinmarketCap for token swaps. Additionally, all wallets supported by Uniswap will also be available for CoinmarketCap’s token swap feature.
They include MetaMask, WalletConnect, Coinbase Wallet, Fortmatic and Portis.
CoinmarketCap Token Swap Will First Support Ethereum, Then Other Networks
The team at CoinmarketCap went on to explain that the launch of the token swap feature will first focus on digital assets on the Ethereum blockchain. However, and as time progresses, CoinmarketCap Token Swap aims at integrating every supported network and token.
The eventual integration of other blockchain networks on the CoinmarketCap Token Swap will allow users to directly connect their crypto wallets to the platform and swap their tokens in a safe and secure way.
How to Swap Tokens on CoinmarketCap
With respect to the procedures for initiating a token swap on CoinmarketCap, the team gave the following instructions.
Navigate to the home page of the token you wish to swap
On the bottom right side of the page, there will be an option for ‘Swap’ as highlighted below
Clicking swap will then allow you to select the tokens you wish to swap and the amount
Connect to your wallet and approve the transactions
Double-check the liquidity provider fee, the route, the price impact, minimum received and the slippage tolerance before confirming the transaction