Baki White Paper
  • Introduction
  • Mint | Deposit
  • Swap
  • Burn | Repay
  • Withdraw
  • Rewards
  • Liquidation
  • Debt
  • Pegging
  • Contract Addresses
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  • Swap Logic
  • Pricing / Swap Rates
  • Fees

Swap

PreviousMint | DepositNextBurn | Repay

Last updated 2 months ago

To swap between zToken currencies the user needs to navigate to the swap page, select the input currency, and select the output currency they would like to receive. The output amount will automatically be quoted in the output box.

Swap Logic

When a swap is triggered, the input zToken is burnt and the output zToken is minted. This allows for infinite liquidity between the supported currencies. As long as a unit of a zToken exists, it can be swapped for another zToken currency.

Pricing / Swap Rates

All swaps between zTokens occur at the price provided by the Baki oracle. This allows Baki to offer central bank rates rather than the parallel rates. This helps create an alternative market allowing users to enter and exit USD positions at the best rate.

Fees

Every trade will incur a 0.80% trading fee that is split between 50.00% to minters, 25.00% to $CNZA token stakers (coming soon), and 25.00% to the development wallet.