LayerSwap now on imToken
Withdraw to Arbitrum, Optimism, Polygon from any exchange, for low fees!
We are happy to add another great Layer 2 feature to your favorite wallet: LayerSwap!
What is LayerSwap?
LayerSwap solves one simple, growing problem for Layer 2:
Withdrawing tokens from Coinbase, Binance and co is expensive, and often Arbitrum, Optimism, Polygon and others aren’t even supported on those exchanges.
Now, LayerSwap lets you receive tokens on Layer 2, from all exchanges. The best part: Instead of paying $30-100 in withdrawal fees, you now pay around ~$10 in fees!
How does LayerSwap work?
Have you ever sent tokens from a, for example, Binance account to another Binance account? If yes, you have noticed that those transfers are free. Because internally, an exchange company doesn’t pay on-chain gas fees.
Using Bransfer, LayerSwap makes use of this idea by simply offering you to send coins from your, for example, Binance account to their Binance account. In return, LayerSwap sends you the same amount, minus a small fee, to your chosen Layer 2 address.
All of this happens instantly and without gas fees!
What exchanges are supported? So far, Coinbase, FTX, FTX US, Binance, Huobi, OKX, Kucoin and Bitfinex are supported by LayerSwap.
How to use LayerSwap on imToken?
Enter ‘LayerSwap’ on your imToken’s ‘Browser’.
Enter any amount, exchange and network.
Login or create a new Bransfer account. Depending on the exchange, Bransfer asks you to connect your exchange account or read-only API keys. The reason Bransfer needs this information is that Bransfer will only release your tokens on Layer 2, once Bransfer has the confirmation (from the API) that you successfully sent your tokens.
Done. Your swap is completed, and you can start exploring Layer 2!
Do check out LayerSwap’s guide on each exchange: layerswap.io/userguide
To stay in touch with LayerSwap’s latest developments, check out LayerSwap on Twitter!