What is a Swap?

Description of Swift AI Swaps.

Don’t overthink it, you’ve likely completed hundreds if not thousands of swaps in your lifetime.

Swaps are the action of trading one asset for another with an opposing party, oftentimes overseen by a trusted third party.

The difference for swaps on Swift AI? We are swapping two digital assets (tokens) in a trustless fashion by programming the swap logic into a canister (the Internet Computer version of a smart contract).

We need no trusted third party and no one can gatekeep swap usage, the swap canister code guarantees this. This is why DeFi swaps are often categorized as permissionless and trustless.