📚Getting Started
Just discovered BasedSwap, Base (by Coinbase) and/or DeFi? This page will help you get started and understand how to use and make the most of it.
BasedSwap makes it easier for people to use different DeFi services. It brings together money from different decentralized exchanges on Base. This makes it simple for users to trade without dealing with the complicated stuff. Also, BasedSwap helps transfer assets between the Base chain and other blockchains. This means you can move your stuff between different chains easily.
BasedSwap can be used directly, through the BasedSwap website, or integrated into other decentralized applications with the BasedSwap API.
Setting up
To use BasedSwap, all you need are wallets: one for Ethereum (like Metamask) and another for Solana (like Phantom). These wallets help you interact with BasedSwap on both EVM and Solana networks. We recommend Metamask for EVM and Phantom for Solana.
While initializing a wallet, make sure to properly set up and back up your recovery mechanism (such as the seed phrase).
In Ethereum's DeFi world (where Base operates), everything works without needing permission. Users can freely use any DeFi service without formal checks. All they need is a wallet to keep their assets safe.
BasedSwap makes exchanging Base tokens and doing cross-chain swaps easier. It simplifies the whole process, helping users get the best market rates without worrying about complicated trading stuff. By taking care of things like comparing prices and optimizing swaps (even considering gas costs), BasedSwap lets users focus on their trading plans or learn more about the ecosystem's basics.
Swap Tokens on Base
The swap interface of BasedSwap looks a lot like Uniswap, but it includes extra details about the optimizations it uses.
Move between chains
The BasedSwap dApp also allows you to move assets between 5 chains including Solana, enabling a cross chain experience. You can also move your assets on other chains to Base to experience the Base ecosystem.
In essence, BasedSwap optimizes token swaps and cross-chain transactions, abstracting away various user operations required to achieve the best rates. While our user interface offers insights into the operations performed, this documentation aims to provide a deeper understanding of the underlying mechanisms, the services BasedSwap encapsulates or interacts with, and any additional optimizations implemented.
Supported chains
Example Use Cases
Large Swaps: BasedSwap handles big orders really well. When orders go beyond 15 ETH, it splits them across different decentralized exchanges. This ensures the orders get executed optimally.
Optimizing Capital Deployment: With PathFinder, our custom routing algorithm, BasedSwap gets even better. It makes transactions smoother across different DeFi protocols. For example, it can directly interact with Aave's or Compound's deposit contracts, as well as DeBridge's DLN ecosystem. This means you can efficiently swap collateral, like changing cDAI to aDAI seamlessly.
Profit Maximization and Savings: By using PathFinder, BasedSwap helps you make the most profit while saving on gas costs. You can quickly take profits and save money in just one transaction. Whether you're cashing in on token price jumps or setting up earning strategies, BasedSwap ensures smooth execution without any regrets.
Simplified Payments: BasedSwap makes it easy to make payments in currencies you don't have. With Swap & Transfer, you can make payments using any token you own, and BasedSwap handles the transfer smoothly. This feature makes paying friends or associates simple – just make sure to double-check the destination address!
Cross-Chain Transactions: BasedSwap goes beyond just one blockchain. It lets you exchange assets between different blockchains seamlessly. This expands BasedSwap's usefulness by giving access to more assets and liquidity pools across various blockchains. Whether you're moving assets from Ethereum to other chains or the other way around, BasedSwap's cross-chain feature makes it easy, offering you more flexibility and interoperability in DeFi.
Last updated
