Hello everyone!

First, we will talk about What is token swapping and we will also cover What is 1inch and What is swapping in Classic Mode on the 1inch. So, let’s get started!

What is token swapping?

Token swapping means exchanging one cryptocurrency for another. You can do this on platforms known as DEXes (Decentralized Exchanges). DEXes allow you to swap tokens directly from your wallet. It provides you as a user with more privacy and control over your funds.

What is the 1inch?\ 1inch is a DEX Aggregator, which means it sources liquidity from different DEXes. The goal here is to find the best possible trading paths and prices for a token swap to minimize the cost and the slippage. (Slippage: Difference between expected price and execution price)

And what is Classic mode on 1inch?\ This refers to their traditional Aggregation Protocol, as I mentioned earlier, the aggregation Protocol seeks to find the most efficient transaction route across various DEXes to offer you the best possible rate.

Now let’s perform a Swap in the Classic mode:

Step 1. Connect the Wallet

Connect Wallet

Choose the Network and the Wallet

Step 2. Choose the tokens you want to swap for another and select the Classic Swap mode. Review all the details, ensuring everything is correct. You can adjust the slippage tolerance and gas fees. After checking everything, click on "Give permission to Swap USDT"

Choose the Tokens

Step 3. Adjust the Spending cap request, click "Next", and approve the transaction. A popup will appear indicating the transaction has been sent.

Spending Cap Request

Approve the Spending Cap

Transaction is sent

Step 4. Wait for the transaction to finish; this should not take more than 3 minutes. Once done, you should see your swapped funds in your wallet. And that is it, you are good to go!

Transaction is Pending