FAQ

Have a question and it's not listed here? Contact us on our Telegram channel @Triswap

How does Triswap eliminate custodial risk?

Rather than using intermediary, or "custodial" accounts like a traditional escrow agency, Triswap uses a smart contract to move funds directly from one wallet to the other. Once terms are agreed on, the swap is executed, and funds move instantly.

Why would I use Triswap instead of existing solutions for cryptocurrency Swaps?

Triswap offers a totally new way to execute swaps securely, efficiently, and transparently. Using Triswap, there is no first-mover or custodial risk, no risk of front-running or slippage, and everything is stored on-chain.

What are the costs/fees associated with Triswap?

The Triswap fee structure is straightforward, The first piece goes to the Agent and can be negotiated between all parties on a per-swap basis. The second piece is a small flat fee that goes to the protocol. That's it. Additional volume, subscription, and white-label options are also available. Contact us for details.

How do I become a Triswap Registered Agent?

Anyone can become a registered Triswap agent, whether you're part of an established firm or just starting out. Please refer to the quickstart guide for details.

How is the “Agent Fee” determined?

The agent fee is determined and agreed upon by all parties involved in the swap: the agent, user 1 and user 2. The fee is an arbitrary percentage without any upper or lower limits (inside 0% and 5%) that can be increased or decreased depending on the nature of the swap and/or agent requirements.

Is an “Agent Fee” required?

No, an agent fee is not required. If a scenario presents itself where an agent fee is not required, the acting agent can simply set the fee to 0%.

Why can’t I change the protocol fee?

The protocol fee is a static percentage of the transaction sent to the Triswap protocol. This number is dependent on your subscription type.

What blockchains are compatible with Triswap?

​​Currently, Triswap supports Ethereum Mainnet (EVM), Polygon, BNB, and Mumbai (Polygon testnet). Triswap will soon be available for all EVM-compatible chains with plans to support non-EVM chains in the near future.

I want to evaluate Triswap. How can I test?

There are several ways to evaluate Triswap. !. Connect the required wallets (Triswap Agent & swapping parties) to the Polygon testnet Mumbai and execute a swap using test tokens 2. For very small swap amounts (value <$100USD), Triswap will waive the protocol fee on mainnet. 3. Triswap also offers a trial program for partners & prospective customers. Contact the Triswap team for more information.

As a swapping party, when I initiate a swap, where do I send my funds?

As a swapping party, you don’t need to send your funds anywhere. Triswap allows all swapping parties to hold their funds until the transaction is executed. The funds are never sent to an escrow account, no custody of your funds are ever required prior to the swap between you and your counterparty.

How do I know my funds are safe?

Unlike traditional practices that use Escrow accounts to hold funds, Triswap uses a smart contract to facilitate the swap. When swapping parties engage with Triswap, they are presented with a list of swap terms determined by the Triswap Agent. The actual process of the swap won’t commence until the terms of the swap have been approved. Once approved, swapping parties then must authorize their funds for the swap. Authorizing the funds simply means preparing the funds to be transferred, at this point funds still have not left the wallet. In fact, both parties keep their funds in their respective wallets right up until the swap is executed. Only once both parties have approved the terms and authorized the funds will the swap be ready for execution. At this time, the Triswap Agent will be notified that both parties have completed all steps necessary to swap the funds, and be given an option to execute the swap. Lastly throughout this entire process both swapping parties are given an option to cancel the swap without penalty, even after approving terms and authorizing funds. Be aware that if the swap is canceled, the swap must be regenerated from scratch by a Triswap Agent.