Tomb Swap allows traders to swap multiple tokens and add liquidity to the current pools. The platform has recently become a part of the DEX to increase the liquidity and the farming chances available for Fantom. Traders can connect their wallets to the decentralized exchange to carry out their trading activities.
Tomb Swap overview
As the exchange is decentralized, traders can use the services from any country. There are no global restrictions. The DEX currently supports TOMB, TSHARE, TBOND, FTM, WFTM, BASED, and MAI as the major cryptocurrencies that can be swapped.
TOMB is the native token used in the brokerage. It stands as the first cross-chain token and is pegged to FTM with a total supply capped at 259724148. Traders can fund their accounts by connecting their wallets.
How does Tomb Swap work?
Tomb Swap allows for all of the following:
- Swap multiple tokens
- Add liquidity to the currently available pools
- Provide farming for phantom
- Buy and hold TBonds
- Earn fee on the transactions by providing liquidity
What can you buy on Tomb Swap?
The blockchain is based on FTM, MATIC, and AVAX. It is pegged to FTM on which the validator nodes rely. Traders can swap the following tokens:
- TOMB
- TSHARE
- TBOND
- FTM
- WFTM
- MAI
- BASED
The DEX does not offer USDT, BTC, ETH, etc., on the platform. This is a poor approach as these are some of the major instruments traded in the crypto markets.
Is Tomb Swap safe?
Tomb Swap is a decentralized exchange that can be subjected to hacks and phishing attacks, subjecting to a loss of funds. It went live recently on 2 June 2021. Traders should be careful while investing with the platform.
Tomb Swap fees, compatible wallets, and transactions
The supported wallets on Tomb Swap are:
- Metamask
- WalletConnect
While concluding their transactions, traders can set up the slippage tolerance from 0.1% to 0.5%. It is also possible to set the deadline in minutes. If the trade does not conclude within the timeframe, it will be canceled.
The FTM can be purchased on the respective exchange and transferred to Tomb Swap. Traders can swap it for other tokens after the funds show up on the DEX. The liquidity providers fee for swapping a single token stands at 0.009975 BASED. The transaction is routed through multiple assets to provide the best fee.
What are the ways to trade on Tomb Swap?
Traders can trade with the following option on the DEX:
- Swap
By swapping tokens with one another and holding the respective instrument, traders can benefit from the increase and decrease of its value.
- Liquidity
Liquidity providers get paid when the respective tokens are swapped. As mentioned before, the profit earned is 0.00975 BASED on a single token swap.
Customer support
Traders can use the user documentation available on the website to get an answer to their questions. The developers also provide a link to several social media platforms, such as Telegram and Twitter, where investors can debate with each other. Unfortunately, there is no email or live chat support available.
Should you trade with Tomb Swap?
Tomb Swap summary
Tomb Swap summaryPros
- The DEX is subjected to consistent monitory and updates
Cons
- It has been in the market for a short duration
- Limited tokens are available for swapping
- Hard for beginners to understand
