Swap Assets

There are two ways to initiate a swap on Chainflip. Both options are fire-and-forget - once the assets are sent to a deposit channel or the vault swap transaction is submitted, the user doesn't need to do anything for the swap to take place.

1. Request a deposit address: The requestDepositAddress method generates a deposit address on the source chain. The user sends funds to this address to initiate a swap.

2. Trigger a vault swap: The encodeVaultSwapData method returns an unsigned transaction that encodes the details of the swap. The user signs and submits this transaction to initiate the swap.

Swap Features

The following features are supported by both, deposit channels and vault swaps:

Slippage Protection: fillOrKillParams

The fillOrKillParams object sets a minimum accepted price when initiating a swap. This protects the swapper against price changes between a quote and the execution of a swap. If the minimum price cannot be met with the available liquidity during the specified number of blocks, deposited assets will be refunded to the specified refund address.

A slippage tolerance can be specified by using the slippageTolerancePercent property. slippageTolerancePercent must be a number between 0 and 100. This percent is used together with the estimatedPrice of the quote to calculate a minimum accepted swap price:

const minimumPrice = quote.estimatedPrice * (1 - Number(slippageTolerancePercent) / 100);

Alternatively, you can manually provide a minPrice value. The minimum price is the ratio between the human readable destination amount and the human readable source amount, e.g. 3500 for a swap from ETH to USDC if you want to receive after least 3500 USDC per ETH.

Refunds are subject to a broadcast fee on the source chain to pay for the transactions sent by the Chainflip protocol. The boost or deposit fee paid will not be refunded.

Example

const fillOrKillParams = {
  slippageTolerancePercent: quote.recommendedSlippageTolerancePercent, // use recommended slippage tolerance from quote
  refundAddress: '0xa56A6be23b6Cf39D9448FF6e897C29c41c8fbDFF', // address to which assets are refunded
  retryDurationBlocks: 100, // 100 blocks * 6 seconds = 10 minutes before deposits are refunded
}

Cross-Chain Messaging: ccmParams

The optional ccmParams object enables to pass a Cross-Chain Message to a receiver contract/program on the destination chain.

Example

const ccmParams = {
  message: "0xdeadc0de",
  gasBudget: 250_000,
}