In the world of cryptocurrency, many users rely on centralized exchanges as a convenient hub to bridge their tokens across different blockchains. The primary motivation behind this choice is the low cost. With just a single click, you can send MATIC from Polygon Blockchain and exchange it for BNB on Binance Smart Chain (BSC) or BNB chain, all while incurring minimal charges. However, it’s essential to recognize the disadvantages of centralized exchanges. By utilizing them, you transfer ownership of your crypto assets. Your key is not truly yours, and as a result, the coins remain beyond your control.
Enter RocketX, an all-in-one solution that harnesses the best aspects of both centralized and decentralized exchanges, offering a fresh perspective on what a crypto hub should be. Here, there’s no need for KYC verification*, email addresses, or passwords. All you have to do is connect your non-custodial wallet, and you’re ready to embark your trading journey.
*except for trading value > 2 BTC per day : In this case, automatically the protocol will ask you to make a KYC.
Simple Token Swaps
RocketX empowers you to effortlessly swap between an extensive selection of tokens, all while enjoying remarkably low fees. Let’s dive into a demonstration:
Assuming you already have a wallet installed, such as MetaMask, with sufficient funds to cover gas fees and some funds to swap.
For the purpose of illustration, let’s acquire a token from the platform itself—the RVF token.
let’s connect to the platform : RocketX
Let’s connect our wallet.
Let’s select Metamask Wallet as following :
Approve the connection :
Select BUSD from the BNB chain and choose RVF from the available list, also within the BNB chain. Automatically, you will be redirected to connect to the BNB chain Network on your Metamask. In case, this network is not showing up, a pop up will ask you to add this. Just follow the steps displayed on screen.
To execute the swap, a transaction is required. The protocol prompts you to approve the use of your BUSD for the swap, which involves a one-time execution of the approval transaction.
Accept terms and conditions of the app Policy:
Approve to swap BUSD:
Set a spending cap for your BUSD to be used for the swap :
In our case, we only approve the access of 25 BUSD but it can be more to avoid further approval transactions.
Confirm by executing a transaction :
Upon successfully completing the swap, a popup window will appear, indicating the status.
To verify the presence of your tokens in your wallet, let’s import the contract for the RVF token.
Visit CoinGecko and search for the RVF token. Ensure you select the correct chain—BNB chain—and copy the contract details.
Return to your MetaMask wallet, click on “import assets,” and paste the contract.
The information will then be displayed, confirming the presence of your tokens.
Congratulations! You have just performed a swap directly from your wallet and access to potential rewards by holding this token (Benefits to RVF RocketX Token HODLers)
Cross-Chain Swaps
RocketX recently integrated Fetch.ai into its protocol, introducing an alternative to Fetch’s native bridge. Let’s explore a cross-chain swap.
We’ll swap BUSD from the BNB chain to FET tokens and bring them into the Cosmos Ecosystem. Before proceeding, it’s crucial to check the minimum amount of FET tokens required for the swap—126.28 FET tokens in this case.
First, initiate a simple swap from BUSD to FET on the BNB chain.
Once completed, proceed to swap the FET tokens from the BNB chain to Osmosis.
To provide the reception address for Osmosis, you need to set up a KEPLR wallet. If you’re unsure how to proceed, don’t worry—we offer a step-by-step guide.
After installing KEPLR, select the Osmosis Chain form the top menu, copy your address, and paste it into the RocketX platform.
Execute the cross-chain SWAP:
Your FET tokens from the BNB chain will be sent as OSMO tokens on the Osmosis chain within the Cosmos Ecosystem.
Transaction Details :
Let’s open KEPLR wallet again and see if the new balance of OSMO token is reflecting.
We have received the OSMO token. RocketX Bridge works as expected!!
With OSMO tokens now in your wallet, you can further swap them on the Osmosis platform for FET tokens. As observed, we exchanged 161.46 FET tokens from RocketX for 155.22 FET received on Osmosis once swapped.
Bridging assets in this example cost us 6,24 FET token which are 1,6 Dollars which is a very cheap alternative for such an efficient service. The process took only few seconds to be executed. Impressive!
Note that using this solution for bridging assets is efficient and very smooth. In addition to that, using the app and holding the RVF token from the RocketX platform can give you potentially airdrop or rewards in a near future.
I trust that you have found this information valuable and that it has inspired you to explore the different features of this All in One solution. No more excuses to get your funds into Centralized Exchange (CEX) now…
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