TrustSwap announced last Friday, August 27, through its Twitter account, that $SWAP has been incorporated into Avalanche Network and Pangolin Exchange, so it is now “ready” to be used and exchanged on these platforms.
“TrustSwap’s mission is to increase the adoption of cryptocurrencies around the world for both businesses and individuals. This is a multi-chain effort, and we believe that Avalanche Network is a priority approach for onboarding people to cryptocurrencies”, he said through an article published on the Medium platform.
According to the company, to date, TrustSwap has already catalyzed the growth of some of the major t h e avalanche network and continue to do more every day to support the growth of the avalanche ecosystem. Until now, as an early backer, TrustSwap launched the first IDO on Avalanche and many others since with phenomenal success.
$SWAP Joins Avalanche Network on Pangolin Exchange
The company explained that to further integrate with the Avalanche community, TrustSwap has joined forces with Avalanche to host the $SWAP token on their bridge. This bridge allows users to move $SWAP back and forth between the Ethereum chain and the Avalanche chain to facilitate less expensive transfer fees on the Avalanche Network when there is congestion on the Ethereum Network. $SWAP can now be traded and purchased on the Pangolin exchange.
In his view, Pangolin works the same as Uniswap, the only difference is that AVAX is what is used to pay the gas rate, rather than ETH. By integrating the SWAP token into the Avalanche chain, TrustSwap enables smaller merchants and users to use a decentralized exchange to actively trade or stake SWAP tokens without spending high gas fees.
How to use the bridge
The company detailed that, to connect its SWAP tokens to the Avalanche Network, the user must follow the steps below
1) Go to https://bridge.avax.network/login
2) Connect your Metamask / Coinbase wallet
3) Select SWAP token from the drop-down menu
4) Add the amount of tokens you want to bridge
5) Click “Transfer”
6) After a couple of minutes, your SWAP tokens will convert to the Avalanche chain.
7) You can now trade SWAP on PangolinSwap or farm tokens on TrustSwap Dashboard. Make sure you have a couple of AVAX tokens for gas fees.