> For the complete documentation index, see [llms.txt](https://taolend.gitbook.io/taolend-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://taolend.gitbook.io/taolend-docs/core-features/swap.md).

# Swap

> Swap allows you to instantly exchange between TAO and Alpha tokens directly on the Trade page.

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## How It Works

1. Select the token you want to sell (**Pay**) and enter the amount
2. The system automatically calculates the amount you will receive (**Receive**)
3. Review the **Slippage** and **Minimum Received** values
4. Click **Swap** to execute the trade

> Only Free tao and wallet ALPHA is eligible for swap.

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## Parameters

| Field            | Description                                                      |
| ---------------- | ---------------------------------------------------------------- |
| Pay              | The token and amount you are selling                             |
| Receive          | The token and estimated amount you will receive                  |
| Slippage         | Maximum acceptable price deviation (recommended: 0.1% – 1%)      |
| Minimum Received | The lowest amount you will receive, calculated based on Slippage |

> If the actual execution price moves beyond the Slippage tolerance, the transaction will be cancelled automatically to protect you from unfavorable rates.

***

## Steps

<div align="left"><img src="/files/rSyZh1RAvmdsBRuF6Xjm" alt="Swap" width="300"></div>

1. Click **Trade** in the navigation and select the **Swap** tab
2. Select the **Pay** token and enter the amount
3. Confirm the estimated **Receive** amount
4. Adjust **Slippage** if needed
5. Click **Swap** and confirm the transaction in your wallet
6. Wait \~10–30 seconds — tokens are credited to your wallet immediately