Swapping BRC-20 Tokens

User Guide: Connecting and Swapping Tokens on Ordiswap with Unisat Wallet

Ordiswap, a decentralized exchange (DEX) built on Bitcoin's layer-1 using the BRC-20 standard and ordinals, offers users a seamless experience for swapping tokens. Below is an initial guide for a new user, using the Unisat Wallet to connect to Ordiswap and execute a token swap between ORDI and BTC.

Unisat Wallet Setup

  • Download and install the Unisat or Wallet from the official website or app store.

  • Create a new wallet or import an existing one securely.

Connecting to Ordiswap

  • Open the Unisat Wallet and navigate to the DEX section.

  • Choose "Connect to Ordiswap" and select the Bitcoin network.

  • Authorize the connection using your wallet credentials.

Selecting Tokens and Pairing

  • Once connected, browse the available token pairs. In this example, choose the ORDI/BTC pair.

  • Ordiswap will automatically check your wallet for ORDI and BTC balances.

Initiating the Swap

  • Specify the amount of ORDI you want to swap for BTC or vice versa.

  • Review the transaction details, including gas fees and slippage tolerance.

  • Confirm the swap, and the Unisat Wallet will generate a transaction.

Confirming the Transaction

  • Sign the transaction using your Unisat Wallet passphrase or biometric authentication.

  • The transaction is broadcasted to the Ordiswap protocol through your connected Bitcoin node.

Monitoring the Swap

  • Track the swap progress within the Unisat Wallet interface.

  • Check the status on the Ordiswap dashboard or explorer.

Completion and Post-Swap Actions

  • Once the swap is confirmed, the Unisat Wallet updates your balance.

  • Users can explore additional features, including liquidity provision or viewing transaction history.

Technical Overview:

  • The Unisat Wallet, employing BRC-20 standards, securely manages users' private keys and facilitates interaction with Ordiswap through Bitcoin nodes.

  • Ordiswap's off-chain server maintains balance states, enabling efficient AMM functionality without relying on layer-2 solutions.

  • The Unisat Wallet communicates transaction data securely to Ordiswap's back-end, initiating the swap through ordinals and BRC-20 standards.

  • Ordiswap utilizes the constant product formula of Uniswap v2, ensuring fair and efficient token swaps with minimized slippage, enhancing the overall trading experience.

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