Use BaseSwap when you want to swap tokens on Base or supply a pool that can earn trading fees. For either task, BaseSwap lets you trade or provide liquidity from your own wallet. The BaseSwap DEX uses shared token pools and code on Base to carry out transactions.

Key points

• You need tokens on Base and enough ETH on Base to pay network fees.
• A swap’s cost includes a pool fee, network gas and any change in the quoted price.
• Supplying liquidity can earn fees, but the value and mix of your tokens can change.

Shared Pools Set the Trading Price

A token swap trades against a pool holding two tokens. Think of the pool as a shared cash drawer. You put one token in and take the other out. As its balance changes, so does the price offered to the next trader.

Base is a network built on Ethereum. A decentralized exchange, or DEX, uses smart contracts: code that carries out trades under set rules. Your wallet asks that code to make the trade, and the result is recorded on Base.

baseswap.io is the service for swapping tokens and providing pool liquidity on Base. A pool needs enough of the token you want to receive. If that side is thin, a large trade moves its price more sharply. Traders call this price impact.

Your First Swap Takes Six Steps

A first swap starts with a wallet funded on the right network. ETH held on Ethereum and ETH held on Base are in different places, even if your wallet shows the same address. Move funds onto Base through a supported transfer or bridge before trying to spend them there.

1. Set up a crypto wallet that supports Base.
2. Fund it with the token you plan to trade and a little ETH on Base for gas.
3. Connect the wallet to the BaseSwap app.
4. Select the token you have, the token you want and the amount to trade.
5. Review the quoted amount you will receive and the estimated network fee.
6. Confirm the transaction in your wallet.

Gas is the network fee for processing a transaction. A first trade of a token may also require an approval, which permits the contract to spend that token. Approval can be a separate transaction with its own gas fee.

The quote can change while your transaction waits. Slippage tolerance sets the largest price change you accept after seeing the quote. For example, if the quote is 50 tokens and tolerance is 1%, the trade should deliver at least 49.5 tokens or fail. A failed transaction can still use gas.

Anyone can create a token with a familiar name. Check its contract address, the token’s unique identifier, against a source you trust. Never enter your wallet’s recovery phrase into a trading site.