Swap Account

A step function leap in the accessibility of cross-chain swapping. Allows users to swap with nothing but a QR code (no wallet connection even required). If you can send it, you can swap it

With Swap Accounts, we aimed to tackle one of the biggest issues in Cross-Chain: Wallet connectivity, seamless user experience and asset flexibility.

What is a Swap Account

A Swap Account is effectively a Keystore wallet that is created in your browser. The way we've built ZEC swaps using Swap Accounts is that the Keystore acts as a temporary, throw-away after one use wallet.

When you initiate a swap, you enter a recipient for your output asset. Then, a Keystore is generated for you. You scan the QR code (or manually send) to send ZEC to the temporary Keystore account (a.k.a. Swap Account).

LeoDex then monitors the blockchain and once your ZEC arrives (usually in seconds or minutes), you are prompted with a "Swap" button.

Clicking "Swap" then swaps from your Swap Account into the pre-selected asset you chose to receive and into the recipient address you entered.

The UX this creates is flawless and super enjoyable. From your POV, you are scanning a QR code and simply sending ZEC to an address then clicking one button afterwards to complete the swap.

Please note that this is an experimental feature and there are also risks involved with Swap Accounts.

Treat a swap account as if it is the hottest of hot wallets. Your goal should be to minimize the time your ZEC is "exposed" (and yes, we would say your ZEC is exposed) inside this hot wallet.

The Swap Account is a 1x use wallet that is created in your browser. You are not meant to re-use it and you are DEFINITELY not meant to hold ANY funds in there beyond the 10 seconds it takes you to see that ZEC was received and LeoDex prompts you to complete the swap.

If you are uncomfortable with how this works or the risks involved, we ask that you don't use the QR2Swap feature and proceed to use ZEC swaps normally (by connecting whichever wallet you use for ZEC and doing the swap with full self-custody).

LeoDex never has access to the mnemonic of your Swap Account and if any funds are lost, it is entirely your responsibility. Only you (your browser) has the mnemonic phrase for the Swap Account's private keys. Please understand this and beware of the disclaimers (we require you check a box acknowledging all of this information prior to using a Swap Account to do a QR2Swap).

FAQ

Does LeoDex Have Access to the Swap Account?

No. LeoDex never has access to your Swap Account. It is a temporary, one-time-use Keystore account that is generated inside of your browser. After you use it for one swap, the mnemonic is deleted from your browser.

What Happens if I Leave or Close my Browser During a QR Swap?

We recommend leaving your browser window open and untouched during a QR Swap (it takes less than 60 seconds). If you do close the tab or browser for any reason, we've created a "Continue with Swap" button that will pick up where you left off so your funds are not lost.

Are Swap Accounts Safe?

We like to think of Swap Accounts as being similar to a burner cell phone. You get one to make a single call and then you toss it in the trash afterwards. It's not intended to be a long-term use feature. Swap Accounts simplify the UX and also allow for Shielded ZEC swaps. You should never send ZEC to a swap account after the first use. One and done. While in the process of a swap, you should consider your funds as being "in a hot wallet" and your goal should be to complete the swap and move those funds back to your more secure wallet ASAP.

Support or Other Questions?

Please use the Discord icon on LeoDex or Click Here to visit our Discord and open a support ticket for official assistance. The LeoDex team & community will never reach out to you for tech support outside of a ticket.