What Are Swaps?

In crypto, a swap is the process of exchanging one token for another, directly, instantly, and without going through a centralized exchange.

Swapping is one of the core features of DeFi. It allows users to move between tokens, rebalance portfolios, access new protocols, or adjust exposure, all without needing an intermediary.

But not all swaps are the same. In Plug, we distinguish between two types:

Single-chain swaps happen within the same blockchain. These swaps involve tokens that share a common standard, such as:

Each L1 (Layer 1) blockchain defines its own token standards. Unlike traditional finance, where fiat currencies are interoperable under a single monetary framework, blockchains operate independently, with their own rules, formats, and protocols.

In a single-chain swap, you're swapping tokens that speak the same technical language, which makes the swap fast and efficient.

These swaps are powered by DEXs (Decentralized Exchanges), which allow users to swap directly from their wallet, without giving up custody of their assets.
Plug automatically connects to supported DEXs and finds the best route for your swap based on price and liquidity.

Cross-chain swaps allow you to swap across different blockchains, for example, from ICP to ETH, or BTC to SOL.

Because each chain has its own standard and environment, cross-chain swaps require deeper infrastructure, including bridges, relayers, and multi-chain liquidity routing. At Plug, we abstract all that complexity away, letting you swap any supported token from one chain to another, in one place.

At Plug, our goal is to build the one wallet for all blockchains. That means making swaps as seamless as possible, across tokens, chains, and standards.

We are constantly improving the swap experience by:

Ultimately, users shouldn’t have to think about standards, bridges, or third-party tools. You should be able to swap any token, anytime, all within one wallet.