A Comprehensive Guide to How to Swap Tokens on Tinyman!

What is Tinyman?

Tinyman is an online platform that allows you to exchange different digital assets like cryptocurrencies. It uses a decentralized system, meaning that it operates without a central authority or middleman, making it more secure and transparent. You can access Tinyman through their website app.tinyman.org, which provides a user-friendly visual interface for buying, selling or swapping digital assets. It works by interacting with a set of smart contracts deployed on the Algorand blockchain, ensuring that all transactions are recorded accurately and transparently. With Tinyman, you can exchange digital assets at current market rates without the need for a middleman or centralized exchange.

How does Tinyman work?

Tinyman exchanges your digital assets using "smart contracts", which are special computer programs that run on the blockchain. These smart contracts allow you to do things like swap one type of digital asset for another, provide liquidity (which means helping to make sure there are enough assets available for others to trade), or borrow/pay flash loans (which are loans that need to be paid back quickly).

The way that Tinyman smart contracts work is by using an Automated Market Maker (AMM) mechanism, specifically called the Constant Product Formula. This is a fancy way of saying that Tinyman's smart contracts are designed to always keep the value of different assets in balance, no matter how much or how little of them are being traded. This helps to ensure that everyone is treated fairly when trading digital assets on the platform.

What is a Swap?

Tinyman has a feature called "Swap" that lets you exchange one digital asset for another using the money in Tinyman's digital asset pools. This means you don't have to worry about finding someone else to trade with, as Tinyman takes care of that for you.

How to Swap?

Here are the steps to start a swap on Tinyman's website:

1. Go to the Tinyman website and connect your wallet.
2. On the website, click on the "Swap on Tinyman" button.
3. Choose the digital assets you want to trade (the "input asset" e.g. ZONE, ALGO, USDC). You can select from a list of assets available on Tinyman.
4. Enter how much of the input asset you want to trade.
5. Choose the digital asset you want to receive in return (the "output asset" e.g. STKE, DEFLY, gALGO).

1. The website will show you how much of the output asset you can expect to receive based on the current market rates.
2. Click on the "Confirm Swap" button.
3. Confirm the details of the swap and authorize the transaction.
4. Upon successful transaction, you'll receive the new digital asset (the "output asset") in your account.

Note: If the transaction cannot be completed for some reason, you'll receive your original input asset back in your account.

In conclusion, Tinyman is a decentralized protocol that allows for the easy trading and swapping of digital assets. Its smart contracts use the AMM mechanism to keep asset values in balance, ensuring fairness in all trades. The Swap feature allows users to trade assets without needing to find a trading partner, making it convenient and hassle-free. By following the simple steps provided, anyone can start swapping assets on Tinyman and enjoy the benefits of decentralized trading. With its secure and transparent platform, Tinyman is a great option for anyone looking to trade digital assets in a decentralized and efficient way.