Swaps in crypto involve directly exchanging one token for another without separate buy and sell steps. While you can initiate the intent for these swaps in the Family app, the actual swap takes place entirely on the blockchain in a peer-to-peer way.
Executing swaps
Choose the token you want to exchange and the one you'd like to receive. Family will give you the estimated amount you could receive, based on the current market conditions. When you confirm the swap, it will be executed solely on the blockchain, without any third-party involvement. Family plays no role in facilitating the swap; the app only provides an interface to set up your intended blockchain transactions.
Peer-to-peer with no third party
Unlike traditional methods that require a centralized exchange, peer-to-peer swaps occur directly between users and are completed entirely on the blockchain. This approach eliminates the need for an intermediary, making the transaction more secure and private. Because the process is decentralized, neither Family nor any other third-party service participates in the swap, ensuring that you maintain full control over your assets at all times.