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Layerswap builds an important bridge between centralized crypto exchanges and layer2 blockchains.
LayerSwap is the trustworthy solution for transferring crypto assets across blockchain, centralized exchanges and banks in a very short span of time, infact in a few minutes.
At the current stage, the application enables frictionless crypto transfer between more than fifteen exchanges and twenty-five blockchains. Moreover, it also allows cross-chain transfers and fiat on-ramps. The application is currently partnering with several decentralized exchanges, wallets, and dApps. These partnerships will simplify the onboarding process for both users and Web3 projects.
Understanding the use of LayerSwap
Users of centralized exchanges can move assets directly to blockchains in order to explore. They can experiment with new apps or projects, buy NFTs, play games or hold assets in Layer 2 networks, decentralized exchanges or wallets.
The projects of Web3 allow their users to easily deposit funds from centralized exchanges, blockchains and fiat. Beginners in the crypto industry use Layerswap to onboard Web3 projects with ease. With Layerswap, users can make instant and affordable transfers.
Advantages of LayerSwap
LayerSwap is the only and first bridge that enables direct and instant transfers from CEXs to blockchains. Moreover, Layerswap provides the following advantages to its users:
- It allows for fast transfers.
- It operates at minimal fees.
- It allows transfers from or to multiple blockchains that are not supported anywhere else.
- It is known for its exceptional community support.
- It completely focuses on simplifying the UX of crypto deposits.
The above picture represents user portal
Source: Layerswap application
Process to become a partner with LayerSwap
To file inquiries for partnerships, explore collaboration opportunities or requesting integration, those interested need to fill a form and get connected with LayerSwap team.
The first page of the partnership enquiry form is shown in the above image
LayerSwap has currently partnered and integrated with multiple Web3 projects, including ImmutableX, Osmosis Zone, Starknet, Optimism, zkSync Lite, Loopring, Agent & AgentX, Braavos Wallet and imToken.
Fee Structure of LayerSwap
It is a cost-efficient solution for transferring assets across ecosystems.
Service fee
They are charging $2-$3 per swap. Depending on the source and destination.
Exchange fee
A few exchanges for a fee to cover the gas fees of on-chain transfers. After inserting the swap details, they will see the applicable fees and comprehensive fee breakdown as shown.
In some cases, Layerswap might not be able to show the exchange fees and they need to check the exchanges.
Withdrawals
It transfers through Layerswap; it needs to initiate a withdrawal from their exchange or network address. There are two ways to initiate withdrawals:
- Connecting a wallet and signing a transaction on it
- Manually sending funds to the provided deposit address from their exchange or network account
How and Why to Open an Account?
Users have the option to sign up with an email and create a Layerswap account. To begin the process, they need to enter a valid email address and verify it with a code shared via email.
After logging into the account:
- A user can access entire transaction history
- Get email notifications upon transfer completions
- Get dedicated deposit addresses that remain similar across transactions and can be whitelisted in exchanges
- Make use of Address Book for access and input addresses that a user has already used
Logging into an account allows a user to provide support faster in case of issues.
Integration of API
The SDK for LayerSwap is designed to allow seamless integration and offers a wide range of customizations depending on the needs and objectives of partners.
The API is designed to enable fast and reliable crypto transfers for end-users directly in their app environment. It offers an extended range of customizations depending on the needs and objectives.
Here is an overview of the functionalities of integration a partner gets
- Direct deposits from any Centralized Exchange to their platform
- Deposits from any network, including from those that are not supported by any other platform
- Allows withdrawals to any exchange and network
- Fiat off-ramp and on-ramp
- Connection to any wallet or protocol, including WalletConnect, Starknet Wallets, and others.
- Gas refueling to ensure users have native tokens to engage with partner problems
- Reward system for implementing user engagement and acquisition campaigns
- It allows 24*7 customer support for users
- Custom theming to match partner interface
All of the functionalities are flexible and designed to provide the smoothest user experience.
Supported Exchanges, Networks and Tokens
The complete list of CEX, blockchains, fiat providers, and tokens. LayerSwap supports:
| Centralized Exchanges | Blockchains | Fiat | Tokens |
| Binance | Arbitrum Nova | Stripe (US only) | ETH |
| Binance US | Arbitrum One | MoonPay (will be introduced soon) | IMX |
| Bitfinex | Avalanche | Ramp (will be introduced soon) | LRC |
| BitGet | Base | SNX | |
| Bittrex Global | BNB Chain (BSC) | USDC (native) | |
| Bybit | tanX (Brine.fi) | USDC (bridged) | |
| Coinbase | Ethereum | USDT | |
| Crypto.com (CDC Exchange) | Evmos | ||
| Gate.io | Fuse | ||
| Gemini | ImmutableX | ||
| Huobi Global | Linea | ||
| Kraken | Loopring | ||
| Kucoin | Manta Pacific | ||
| MEXC Global | Mantle | ||
| Newton | opBNB | ||
| OKX | Optimism | ||
| Swyftx | Osmosis | ||
| PGN | |||
| Polygon PoS | |||
| Polygon zkEVM | |||
| Rollux | |||
| Scroll | |||
| Solana | |||
| Starknet | |||
| TON | |||
| zkSync Lite | |||
| zkSync Era | |||
| Zora |
Conclusion: Latest Updates on LayerSwap
LayerSwap has reclaimed its domain after a hijack that lasted a short while. The hijack was able to drain roughly $100,000 of user funds.
The event was observed on Wednesday, March 20, at 19:40 UTC. The application experienced domain compromise, redirecting unsuspecting users to a malicious phishing rate.
🛠 Layerswap March 20 incident
— Layerswap (@layerswap) March 21, 2024
On March 20th, around 7:40 PM UTC, the @GoDaddy account for our https://t.co/xGoN2q5vOa domain was compromised, and we're currently awaiting a comprehensive report from GoDaddy to understand the breach's specifics. Meanwhile, here's some context…
It was reported in the morning of March 21. The hacker also tried to reset the X account of Layerswap. The event has affected approximately fifty users.
The Layerswap has, however, committed its users to provide a full refund and an additional 10% as an expression of appreciation for their patience and trust in them.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
