Sunswap- Enjoy swapping, yield farming, and self-governance on TRON

Nowadays, most crypto traders are into using decentralized exchanges because such exchanges give them confidence and make sure that you do not have to navigate to any third-party platform or an intermediary. If you are also interested in using one such platform, then there could not be a platform better than Sunswap.

This is a decentralized exchange (DEX) which is built on the TRON blockchain. This platform comes with the feature to enjoy fast and low-cost token swaps. Especially, if you are dealing with TRC-20 tokens, this platform is just for you. Soon after the release of the Sunswap v2 platform, it saw a significant improvement in its performance, improved user experience, and lower transaction fees. Whether you are a beginner in this field or are an enthusiast, in this guide, you will certainly find answers to your queries.

What is Sunswap and how does it work?

As stated in the introductory part of the read, it is a decentralized exchange (DEX) that comes with the capability to let you swap TRC-20 tokens. The best part is that you can do this directly from your wallet without connecting to a centralized authority. The Sunswap exchange uses AMMs (Automated Market Makers) to carry out the trading process by relying on liquidity pools provided by users. In short, the platform comes with round-the-clock trading availability and with minimal slippage. Moreover, you get to enjoy fast confirmation times because of the TRON blockchain.

What’s the difference between Sunswap v1 and Sunswap v2?

Sunswap v2 is an upgraded version of Sunswap v1 that comes with several advanced features including the following:

• Enjoy lower transaction fees.

• You get to use more efficient routing for token swaps.

• You’re provided with enhanced liquidity pool management features.

• A better and improved UI.

• Enjoy faster performance.

• Introduction to direct token pair swaps.

• Improved gas efficiency.

• Lesser transaction steps.

How do I use Sunswap Exchange to swap TRC-20 tokens?

If you are just beginning your journey with Sunswap, you can follow the steps below to get started with it:

1. At first, you need to connect your wallet with Sunswap.

2. For this, go to the https://sunswap.com/#/home

3. From here, you can click the “Connect to Wallet” option.

4. You can then choose a token pair you’d like to swap.

5. Provide the swapping amount and then review the price and slippage.

6. After reviewing the transaction details, you can confirm the transaction.

7. Soon, the tokens will be exchanged from your wallet.

Is Sunswap Exchange safe and trustworthy?

It generally is considered a safe platform for various reasons. If you are keen on knowing the safety measures followed by this platform, then you can take a look at the details provided below:

• Considering the fact that this is a non-custodial wallet, it can be counted as a safe wallet as it can hold your private keys even without messing with your privacy.

• The open-source feature of the wallet is something that leads to community governance making it even more secure.

• Since Sunswap exchange is built on the TRON blockchain, we know that it is popular for offering high throughput.

Similar to several other DeFi platforms, there could be risks and vulnerabilities attached to smart contracts. Hence, you should cross-check the URL before taking any actions and avoid sharing your private keys with others.

How do I provide or remove liquidity on Sunswap v2?

If you wish to provide liquidity to the Sunswap v2 exchange, then the steps below will help you do that:

1. Visit the https://sunswap.com/#/v2 website and navigate to the “Liquidity” tab.

2. You can then choose or create a token pair of your choice.

3. Provide an amount for each token you’d like to swap.

4. After reviewing the transaction details, you should confirm it within your wallet.

You’ll now start receiving LP tokens based on your share in the pool. The best part is that you can stake these tokens to earn additional rewards.

How can I migrate my funds from Sunswap v1 to v2?

If you are someone who has already provided on Sunswap v1 and now you wish to move it to Sunswap v2, then you can refer to the steps below to do that:

1. The first thing you do is- visit the v1 website version.

2. Here, you first need to remove your liquidity. S

3. Move to the Sunswap v2 platform.

4. Following this, you should add the same pair of tokens to the v2 liquidity pool.

5. After that, you will receive new v2 LP tokens for participation.

At times, you might find migration tools and incentives on the platform that will allow you to make this process a little smoother.

Conclusion:

If you’re trading TRC-20 tokens and looking for a decentralized exchange, then this Sunswap could be the platform that you can go ahead with. The platform is known for supporting tokens such as USDT (TRC-20), SUN, JST, BTT, WIN, WBTC, WETH, etc. It also allows you to earn rewards or passive income through multiple ways including liquidity provision, farming and staking, and through token incentives. The platform has a strong backing in the TRON ecosystem and has a seamless User Interface.