Swap
Swap converts a Cheddar-held asset into another token and sends it to a
pre-whitelisted destination address — a swap-and-withdraw in one step.
Manage swaps in Dashboard → Swap (/dashboard/swap).
Looking to let a customer fund their balance with an outside token? That is Deposit swaps, a different feature. This page covers converting an asset your organization already holds.
Swap must be enabled for your organization. If you don’t see the section, contact the Cheddar team.
Create a swap
Fill in all fields:
- Source asset — the held asset to swap from (Bitcoin- and Ethereum-chain balances). The list shows each asset’s available balance.
- Amount — must be greater than 0 and within your available balance. Use Max to fill the full available amount.
- Destination — a whitelisted address, chosen from the dropdown. You cannot type an arbitrary address. The destination’s chain determines which target assets are available.
- Target asset — the token to receive on the destination’s chain.
Submit to create the swap. There is no rate quote, minimum, or slippage setting before submitting — the received amount is shown after the swap is created.
Solana holdings are not swappable in this version.
Track a swap
The detail page updates automatically (polls every 20 seconds) through four steps: Sent → Deposit earmarked → Swapping → Paid out, with deposit and payout transaction links.
Statuses: In progress, Completed, Failed, Pending, and Awaiting approval.
Awaiting approval is a compliance hold. Approval is manual — the swap resumes once approved, or fails after a 25-hour cap. No action is needed from you.