Swap lets you exchange one of the assets in your wallet for another one, without leaving the wallet and without sending anything to an outside account first.

Pick the asset you are paying with at the top, and the asset you want to receive underneath. Type an amount, or use the shortcut buttons above the field to spend a quarter, a half, three quarters, or the whole balance of that asset.

The wallet then shows you what you would receive. This figure is an estimate, which is why the panel is labelled RECEIVE (ESTIMATES). Nothing has happened yet at this point, and nothing leaves your wallet until you confirm.

Loop does not set the price. The exchange itself happens on trading venues built on the network, and Loop connects you to them so you do not have to go to each one yourself and move your assets there first.

View quotes shows you what is on offer, so you can see the price rather than take it on trust.

Because the price comes from a venue and not from us, we cannot fix a rate for you, adjust one after the fact, or promise a particular result.

Rate. How much of the second asset one unit of the first is currently worth.

Provider fee. What the venue handling the exchange charges. This is theirs, not ours.

Network fee. The cost of putting the transaction on the network. It is the same network fee you pay on any other transaction. On the Swap screen this line is currently labelled Network gas.

Price impact. How much your own order moves the price. Small orders barely register. The larger your order is compared with what is available to trade, the more the price moves against you, and this line is where you see that before you agree to it.

Slippage. The amount of movement you are willing to accept between the moment you confirm and the moment the swap settles. Set it too tight and a swap may fail rather than complete at a worse price. Set it too loose and you may receive noticeably less than the estimate. The default is a reasonable starting point for ordinary amounts.

Prices move between the moment you look and the moment the transaction settles. That gap is normal, and it is what slippage exists to handle.

Check the estimate and the price impact before confirming rather than afterwards. A swap that has settled cannot be reversed or undone, by us or by anyone.

The most common reason is that the price moved further than your slippage setting allowed, so the swap was rejected rather than filled at a worse rate than you agreed to.

Look at the asset first, then the amount, then the setting. Trying again a moment later, or allowing slightly more slippage, resolves most cases.

Every swap is submitted with a short window in which it has to settle. If it does not settle inside that window, the swap does not go through and the screen shows it as expired. The network fee for submitting it is still charged, because the transaction itself was submitted.

If a swap expired and the amount has not come back to your wallet, do not submit the same swap again. Send us the transaction ID, your party ID and a screenshot from this page. We will read the record and tell you exactly where the amount is.