What is Token Swap?

A token swap can refer to one of two different processes. First, the direct exchange of a one crypto asset to another between two users — say, from ETH to BTC — which is usually facilitated through a special exchange service or decentralized exchange (DEX). Second, the migration of a crypto asset from one specific blockchain protocol to another — like, for example, if a token originally built for the Ethereum blockchain was redesigned to run on the Binance Smart Chain (BSC).