Arbitrum

Starknet

USDC

Polygon

zkSync

<p><em><strong>Layerswap builds an important bridge between centralized crypto exchanges and layer2 blockchains.</strong></em></p>
<p>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.</p>
<p>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.</p>
<h2 class="wp-block-heading" id="strong-understanding-the-use-of-layerswap-strong"><strong>Understanding the use of LayerSwap</strong></h2>
<p>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.</p>
<p>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.</p>
<h2 class="wp-block-heading" id="strong-advantages-of-layerswap-strong"><strong>Advantages of LayerSwap</strong></h2>
<p>LayerSwap is the only and first bridge that enables direct and instant transfers from CEXs to <a href="https://www.thecoinrepublic.com/2024/03/22/blockchain-trademarks-can-brand-protection-be-revolutionized/" rel="noopener noreferrer nofollow">blockchains</a>. Moreover, Layerswap provides the following advantages to its users:</p>
<ul>
 <li>It allows for fast transfers.</li>
 <li>It operates at minimal fees.</li>
 <li>It allows transfers from or to multiple blockchains that are not supported anywhere else.</li>
 <li>It is known for its exceptional community support.</li>
 <li>It completely focuses on simplifying the UX of crypto deposits.</li>
</ul>
<div class="wp-block-image">
 <figure class="aligncenter size-full"><img loading="lazy" decoding="async" width="794" height="632" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/03/Fee-Structure-of-LayerSwap.png" alt="LayerSwap" class="wp-image-198322" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/03/Fee-Structure-of-LayerSwap.png 794w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/Fee-Structure-of-LayerSwap-300x239.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/Fee-Structure-of-LayerSwap-768x611.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/Fee-Structure-of-LayerSwap-750x597.png 750w" sizes="(max-width: 794px) 100vw, 794px">
 </figure>
</div>
<p>The above picture represents user portal</p>
<p>Source: Layerswap application</p>
<p>Process to become a partner with LayerSwap</p>
<p>To file inquiries for partnerships, explore collaboration opportunities or requesting integration, those interested need to fill a form and get connected with LayerSwap team.</p>
<p>The first page of the partnership enquiry form is shown in the above image</p>
<div class="wp-block-image">
 <figure class="aligncenter size-full"><img loading="lazy" decoding="async" width="905" height="797" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/03/hi-there.png" alt="hi there" class="wp-image-198320" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/03/hi-there.png 905w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/hi-there-300x264.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/hi-there-768x676.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/hi-there-750x660.png 750w" sizes="(max-width: 905px) 100vw, 905px">
  <figcaption class="wp-element-caption">
   Source: form(dot)typeform(dot)com
  </figcaption>
 </figure>
</div>
<p>LayerSwap has currently partnered and integrated with multiple Web3 projects, including ImmutableX, Osmosis Zone, Starknet, Optimism, zkSync Lite, Loopring, Agent &amp; AgentX, Braavos Wallet and imToken.</p>
<h2 class="wp-block-heading" id="strong-fee-structure-of-layerswap-strong"><strong>Fee Structure of LayerSwap</strong></h2>
<p>It is a cost-efficient solution for transferring assets across ecosystems.</p>
<h3 class="wp-block-heading" id="service-fee">Service fee</h3>
<p>They are charging $2-$3 per swap. Depending on the source and destination.</p>
<h3 class="wp-block-heading" id="exchange-fee">Exchange fee</h3>
<p>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.</p>
<p>In some cases, Layerswap might not be able to show the exchange fees and they need to check the exchanges.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-full"><img loading="lazy" decoding="async" width="855" height="804" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/03/Advantages-of-LayerSwap.png" alt="LayerSwap" class="wp-image-198321" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/03/Advantages-of-LayerSwap.png 855w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/Advantages-of-LayerSwap-300x282.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/Advantages-of-LayerSwap-768x722.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/Advantages-of-LayerSwap-750x705.png 750w" sizes="(max-width: 855px) 100vw, 855px">
 </figure>
</div>
<h2 class="wp-block-heading" id="strong-withdrawals-strong"><strong>Withdrawals</strong></h2>
<p>It transfers through Layerswap; it needs to initiate a withdrawal from their exchange or network address. There are two ways to initiate withdrawals:</p>
<ul>
 <li>Connecting a wallet and signing a transaction on it</li>
 <li>Manually sending funds to the provided deposit address from their exchange or network account</li>
</ul>
<h2 class="wp-block-heading" id="strong-how-and-why-to-open-an-account-strong"><strong>How and Why to Open an Account?</strong></h2>
<p>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.</p>
<p>After logging into the account:</p>
<ul>
 <li>A user can access entire transaction history</li>
 <li>Get email notifications upon transfer completions</li>
 <li>Get dedicated deposit addresses that remain similar across transactions and can be whitelisted in exchanges</li>
 <li>Make use of Address Book for access and input addresses that a user has already used</li>
</ul>
<p>Logging into an account allows a user to provide support faster in case of issues.</p>
<h2 class="wp-block-heading" id="strong-integration-of-api-strong"><strong>Integration of API</strong></h2>
<p>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.&nbsp;</p>
<p>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.</p>
<p>Here is an overview of the functionalities of integration a partner gets</p>
<ul>
 <li>Direct deposits from any Centralized Exchange to their platform</li>
 <li>Deposits from any network, including from those that are not supported by any other platform</li>
 <li>Allows withdrawals to any exchange and network</li>
 <li>Fiat off-ramp and on-ramp</li>
 <li>Connection to any wallet or protocol, including WalletConnect, Starknet Wallets, and others.</li>
 <li>Gas refueling to ensure users have native tokens to engage with partner problems</li>
 <li>Reward system for implementing user engagement and acquisition campaigns</li>
 <li>It allows 24*7 customer support for users</li>
 <li>Custom theming to match partner interface</li>
</ul>
<p>All of the functionalities are flexible and designed to provide the smoothest user experience.&nbsp;</p>
<h2 class="wp-block-heading" id="strong-supported-exchanges-networks-and-tokens-strong"><strong>Supported Exchanges, Networks and Tokens</strong></h2>
<p>The complete list of CEX, blockchains, fiat providers, and tokens. LayerSwap supports:</p>
<figure class="wp-block-table">
 <table>
  <tbody>
   <tr>
    <td>Centralized Exchanges</td>
    <td>Blockchains</td>
    <td>Fiat&nbsp;</td>
    <td>Tokens</td>
   </tr>
   <tr>
    <td>Binance</td>
    <td>Arbitrum Nova</td>
    <td>Stripe (US only)</td>
    <td>ETH</td>
   </tr>
   <tr>
    <td>Binance US</td>
    <td>Arbitrum One</td>
    <td>MoonPay (will be introduced soon)</td>
    <td>IMX</td>
   </tr>
   <tr>
    <td>Bitfinex</td>
    <td>Avalanche</td>
    <td>Ramp (will be introduced soon)</td>
    <td>LRC</td>
   </tr>
   <tr>
    <td>BitGet</td>
    <td>Base</td>
    <td></td>
    <td>SNX</td>
   </tr>
   <tr>
    <td>Bittrex Global</td>
    <td>BNB Chain (BSC)</td>
    <td></td>
    <td>USDC (native)</td>
   </tr>
   <tr>
    <td>Bybit</td>
    <td>tanX (Brine.fi)</td>
    <td></td>
    <td>USDC (bridged)</td>
   </tr>
   <tr>
    <td>Coinbase</td>
    <td>Ethereum</td>
    <td></td>
    <td>USDT</td>
   </tr>
   <tr>
    <td>Crypto.com (CDC Exchange)</td>
    <td>Evmos</td>
    <td></td>
    <td></td>
   </tr>
   <tr>
    <td>Gate.io</td>
    <td>Fuse</td>
    <td></td>
    <td></td>
   </tr>
   <tr>
    <td>Gemini</td>
    <td>ImmutableX</td>
    <td></td>
    <td></td>
   </tr>
   <tr>
    <td>Huobi Global</td>
    <td>Linea</td>
    <td></td>
    <td></td>
   </tr>
   <tr>
    <td>Kraken</td>
    <td>Loopring</td>
    <td></td>
    <td></td>
   </tr>
   <tr>
    <td>Kucoin</td>
    <td>Manta Pacific</td>
    <td></td>
    <td></td>
   </tr>
   <tr>
    <td>MEXC Global</td>
    <td>Mantle</td>
    <td></td>
    <td></td>
   </tr>
   <tr>
    <td>Newton</td>
    <td>opBNB</td>
    <td></td>
    <td></td>
   </tr>
   <tr>
    <td>OKX</td>
    <td>Optimism</td>
    <td></td>
    <td></td>
   </tr>
   <tr>
    <td>Swyftx</td>
    <td>Osmosis</td>
    <td></td>
    <td></td>
   </tr>
   <tr>
    <td></td>
    <td>PGN</td>
    <td></td>
    <td></td>
   </tr>
   <tr>
    <td></td>
    <td>Polygon PoS</td>
    <td></td>
    <td></td>
   </tr>
   <tr>
    <td></td>
    <td>Polygon zkEVM</td>
    <td></td>
    <td></td>
   </tr>
   <tr>
    <td></td>
    <td>Rollux</td>
    <td></td>
    <td></td>
   </tr>
   <tr>
    <td></td>
    <td>Scroll</td>
    <td></td>
    <td></td>
   </tr>
   <tr>
    <td></td>
    <td>Solana</td>
    <td></td>
    <td></td>
   </tr>
   <tr>
    <td></td>
    <td>Starknet</td>
    <td></td>
    <td></td>
   </tr>
   <tr>
    <td></td>
    <td>TON</td>
    <td></td>
    <td></td>
   </tr>
   <tr>
    <td></td>
    <td>zkSync Lite</td>
    <td></td>
    <td></td>
   </tr>
   <tr>
    <td></td>
    <td>zkSync Era</td>
    <td></td>
    <td></td>
   </tr>
   <tr>
    <td></td>
    <td>Zora</td>
    <td></td>
    <td></td>
   </tr>
  </tbody>
 </table>
</figure>
<h2 class="wp-block-heading" id="strong-conclusion-latest-updates-on-layerswap-strong"><strong>Conclusion: Latest Updates on LayerSwap</strong></h2>
<p>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.</p>
<p>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.</p>
<blockquote class="twitter-tweet">
 <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6e0.png" alt="🛠" class="wp-smiley" style="height: 1em; max-height: 1em;"> Layerswap March 20 incident<br><br>On March 20th, around 7:40 PM UTC, the <a href="https://twitter.com/GoDaddy?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@GoDaddy</a> account for our <a href="https://t.co/xGoN2q5vOa" rel="noopener noreferrer nofollow">https://t.co/xGoN2q5vOa</a> domain was compromised, and we're currently awaiting a comprehensive report from GoDaddy to understand the breach's specifics. Meanwhile, here's some context…</p>— Layerswap (@layerswap) <a href="https://twitter.com/layerswap/status/1770679223876780091?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 21, 2024</a>
</blockquote>
<p>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.&nbsp;</p>
<p>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.</p>

LayerSwap Building Bridge Between Blockchain and L2 Networks

Table of Contents

Thecoinrepublic.com

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