This depends on which two chains are involved in the swap, since all transactions are on-chain. An ETH,BTC,BCH swap may take several minutes while a RUNE-BNB swap might be executed within 15 seconds. It also depends on the volume of the swap (see THOChain's security measure outbond throttling).

How long does it take for a swap to execute?

In the app on the Wallet page, tap on the asset you want to swap (in our example RUNE) and click on Swap.

Next, enter the amount you wish to swap, the asset you want to swap to (In our example, we swap from RUNE to BUSD). You can also set your preferred Slippage Tolerance by clicking on the cogwheel in the upper right corner. This step is not necessary as the app has a built-in auto slippage function.

 Click on Preview Swap to view the estimated fees of the transaction. 

Finalise the Swap by clicking "Swap now", after which the following window appears:

After the first confirmation takes place (usually a few seconds), a swap summary appears:

Now the transaction is finished, you can check your respective asset balances in the wallet.

Imagine you are trying to make a swap. You choose the assets and the amount you wish to swap. You confirm the transaction at 12:00, but it takes some time before it actually happens, and the transaction is executed at 12:01. The problem is that the price of the swapped assets can change in this time frame (in crypto often drastically), and that is where the slippage tolerance comes into play. You use the slippage tolerance to express how big this price difference can be so that you still wish to execute the transaction. If the price change exceeds the slippage tolerance, the transaction will NOT be executed.

Our app has built-in automatic slippage function but you can set your own by clicking on the cogwheel in the upper right corner (see screenshots below).

THORWallet DEX currently supports Bitcoin (BTC), Litecoin (LTC), Bitcoin Cash (BCH), Ethereum (ETH), Dogecoin (DOGE), Binance Chain (BNB), Terra (Luna)* and Thorchain (RUNE).

*supported soon




Swaps have the following fee structure: 
1. Network Fee:

If the input is rune 0.02rune is paid as fee.

If the input is eth/erc-20 token then it is paid in eth. 

3. Affiliate Trading Fee (THORWallet DEX fee):

0%-1% depending on community tier or THORWallet NFT  

Transaction (gas) is approximately 3x higher than normal transaction. This is a THORChain default, to make sure swaps are executed fast and don't get stuck. For PoS chains this has little effect on gas costs, whereas for ETH transaction those fees can be considerably higher.   Click on the info button in the app before the swap to see an estimation of the fees. Please be aware that this is an estimation. 



During a cross-chain swap you will send the coin you want to trade in for another to a Thorchain vault. Once your coin is securely on its way, the vault will send you the coin you traded for to your wallet. All this is automated in the THORChain blockchain and completely decentralised. 



How do cross-chain swaps work?