🧠Ordinal BAYC SWAP
Ordinal BAYC SWAP is a decentralized exchange where users can trade one digital asset for another without relying on a central authority or middleman. It works using smart contracts, which are self-executing programs on a blockchain network that automatically execute the terms of an agreement when specific conditions are met.
To use Ordinal BAYC SWAP, users first need to connect their compatible cryptocurrency wallet to the platform, for example Metamask and Trust Wallet. Then, they can select the token they want to sell and the token they want to buy. The exchange ratio is determined by the current market price of the tokens at the time of the transaction.
Once the user confirms the transaction, the smart contract processes the swap by transferring the tokens from the seller's wallet to the smart contract, exchanging them for the desired token, and then sending the new token to the buyer's wallet. This process is executed entirely on the blockchain network, making it secure, transparent, and faster compared to traditional centralized exchanges.
It's worth noting that users need to have enough balance in their wallets to complete the transaction. Additionally, transactions on decentralized exchanges like Ordinal BAYC SWAP may have higher fees than centralized exchanges due to the more complex nature of the process.
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