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ECTO — PHANTASMA-ETHEREUM SWAP TUTORIAL


ECTO — PHANTASMA-ETHEREUM SWAP TUTORIAL

By Writers' Lounge|2022-07-21T21:32:35+00:00March 12, 2021|Cross Chain, dApps,
Tutorials, Wallets|
 * View Larger Image

Welcome to the Phantasma cross chain asset swapping tutorials. These tutorials
will guide you step by step through every detail necessary to ensure a
successful cross chain asset swap using our wallets Poltergeist and Ecto.


PLEASE NOTE: ALL CROSS-CHAIN SWAPS BETWEEN PHANTASMA AND OTHER BLOCKCHAINS ARE
CURRENTLY SUSPENDED PENDING COMPLETION OF MULTIPLE SECURITY AUDITS.


PLEASE STAY TUNED TO OUR TELEGRAM COMMUNITY AND ANNOUNCEMENTS CHANNEL TO CATCH
THE LATEST NEWS ON WHEN CROSS-CHAIN SWAPS WILL REOPEN.

Mind that if you do not have a Phantasma wallet or wallet address yet, we
recommend starting out by downloading the wallet of your choice — Poltergeist
for a standalone desktop wallet application that’s also available for Android,
or our browser extension wallet Ecto which has that familiar Metamask feeling
for Ethereum users. For a quick guide on wallet creation, backing up private
keys and other basic things, check out the Poltergeist Basics tutorial or the
Ecto Basics tutorial.




CHOOSE YOUR GUIDE

 * Poltergeist — Basic functionality
 * Poltergeist — Swapping between Phantasma and Neo
 * Poltergeist — Swapping between Phantasma and Ethereum
 * Poltergeist — Swapping between Phantasma and Binance Smart Chain
 * Ecto — Basic functionality
 * Ecto — Swapping between Phantasma and Neo
 * Ecto — Swapping between Phantasma and Ethereum (this article)
 * Ecto — Swapping between Phantasma and Binance Smart Chain




BEFORE WE START — WARNING: REDUCED SPEED AHEAD

If you receive a message saying your swap has failed when claiming tokens in
your Ethereum wallet, this is usually because the transaction has been
broadcast, but not mined on Ethereum yet. If this happens, give it some time
(15–20 minutes) and then try again — remember that transactions on the Ethereum
blockchain take longer than you will have become used to while using the
Phantasma mainnet.

 




ECTO WALLET: PHANTASMA — ETHEREUM SWAPS


GETTING YOUR ECTO ETHEREUM WALLET READY

There are three basic ways to do this:

 * Use your existing Phantasma wallet and send ETH to your freshly created
   Ethereum wallet in Ecto, or
 * Import your existing Ethereum wallet holding ETH into Ecto using your private
   key. This will give you corresponding Phantasma and NEO addresses using the
   same private key, or
 * Create a new wallet in Ecto and send ETH to the Ethereum wallet that is
   created


Import your existing Ethereum wallet or create a new one

Once you have done this, you are ready to start swapping!




1 — SWAPPING FROM ETHEREUM TO PHANTASMA

> NOTE: Swapping to and from Ethereum is contingent on the speed of the Ethereum
> blockchain — you may face delays if it is congested, and it will be far slower
> than you are used to on the Phantasma blockchain.


1.1 CLICK SWAPS > SWAP FROM ETHEREUM


Swap from Ethereum to Phantasma



1.2 SELECT AN ASSET

In this step, you need to select which asset you want to swap. In this example
we are swapping Ethereum ETH into Phantasma ETH. Click the swap button that
correlates to ETH.


Choose the asset you wish to swap



1.3 ENTER THE AMOUNT YOU WISH TO SWAP

Enter the amount that you want to swap and click on Next.


Input the amount you wish to swap

> NOTE: Gwei is a small unit of the Ethereum network’s Ether (ETH)
> cryptocurrency. A gwei is defined as 1,000,000,000 wei, the smallest base unit
> of Ether. One gwei equals 0.000000001 or 10^–9 ETH. Conversely, 1 ETH
> represents 1 billion gwei!
> 
> Gwei is a useful denomination to calculate gas fees (paid to miners for
> transaction processing) in a convenient way. The higher gwei fee you choose to
> pay, the faster your transaction will be processed by Ethereum’s miners. You
> can check the latest Ethereum transaction costs at the ETH gas station.




1.4 AUTHORIZE TRANSACTION

You will need to authorize all transactions in the wallet with your password.
Enter your password here and click Sign TX in order to proceed with the swap.


Input your password to authorize the transaction



1.5 WAIT FOR THE SWAP TO COMPLETE


Ethereum-Phantasma swaps require 12 Eth confirmations



1.6 CLAIM YOUR PENDING SWAP

When you get the Pending Swaps notification, your Ethereum asset has been
successfully swapped into the corresponding Phantasma asset in your Phantasma
wallet! Click on the Claim button in order to receive the swapped asset that’s
currently pending.


Claim your pending asset



1.7 CHECK YOUR UPDATED ASSET BALANCES

Congrats! You have now completed the swap from Ethereum to Phantasma! You can
check the transaction in the Activity tab.


Ecto’s transaction history



2 — SWAPPING FROM PHANTASMA TO ETHEREUM

> Note: to be able to swap assets from Phantasma to Ethereum you must swap some
> ETH from Ethereum to your Phantasma mainnet wallet. This is necessary to pay
> the Ethereum side gas fees when swapping SOUL or KCAL from Phantasma to
> Ethereum. Mind that this is not necessary if you are swapping SOUL, KCAL, ETH
> or other assets from Ethereum to the Phantasma mainnet.


2.1 CLICK SWAPS > SWAP TO ETHEREUM

After ensuring you have some ETH in your Phantasma wallet for the gas fee, click
Swaps > Swap to Ethereum


Choose your desired swap direction



2.2 SELECT AN ASSET

In this step you need to select which asset you want to swap, in this example we
are swapping Phantasma SOUL into Ethereum SOUL. Click the swap button that
correlates to SOUL.


Choose which asset to swap cross chain



2.3 ENTER THE AMOUNT YOU WISH TO SWAP

Enter the amount you wish to swap from Phantasma to Ethereum and click next.


Input the amount you wish to swap



2.4 AUTHORIZE TRANSACTION

You will need to authorize all transactions in the wallet with your password.
Enter your password here and click Sign TX in order to proceed with the swap.


Input your password to authorize the transaction



2.5 CLAIM YOUR PENDING SWAP

When you get the Pending Swaps notification, your Phantasma asset has been
successfully swapped into its corresponding Ethereum asset in your Ethereum
wallet! Click the Claim button in order to receive the swapped asset that’s
currently pending.


Claim your pending swap



2.6 CHECK YOUR UPDATED ASSET BALANCES

Congrats! You have now completed the swap from Phantasma to Ethereum! You can
check the transaction in the Activity tab.


The Ecto transaction history



3 — ON-DEMAND SUPPORT — 24/7

If you have questions or need technical support please join our Telegram
community.

Happy swapping!

The Phantasma Team

--------------------------------------------------------------------------------


PHANTASMA SOCIALS

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ABOUT THE AUTHOR: WRITERS' LOUNGE




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