Ubeswap allows you to swap between any two tokens, granted an Ubeswap pair between those two tokens exist.
Let's say you have cUSD and want to swap it for CELO.
- On the interface, select the tokens you want to exchange from (cUSD) and to (CELO)
- Enter a quantity of cUSD to swap from. This quantity should be more than 0 but less than your maximum balance
Approve cUSDand accept the transaction on your wallet
- Tip: Approving means you grant the Ubeswap smart contract permission to spend your cUSD tokens. Ubeswap will never spend your cUSD without your explicit permission to swap
- Once the approval has succeeded, you can click
Swapto perform the swap between cUSD and CELO. Again, accept the transaction on your wallet.
Congrats! You just swapped cUSD for CELO.
You can see your tokens either directly in certain Wallets or on Celo Explorer at https://explorer.celo.org/address/[YOUR_WALLET_ADDRESS]/tokens (put in your wallet address where it says [YOUR_WALLET_ADDRESS]).
Moola tokens are effectively the receipt for your deposit in Moola. It enables you to get back the token you've locked up in the Moola contract. Its value is the same as X token, so if you swap mToken for something else, you just simply won't be able to get that token back from Moola and it could impact your collateral balance.