Hashi Swaps Explained: Move Crypto Between Blockchains Easily

Moving your cryptocurrency between different blockchains can seem tricky. You might have assets on Ethereum but want to use them on Polygon, or vice versa. Hashi is a tool that makes this much simpler. It lets you swap tokens directly from one blockchain to another.

This guide will walk you through how to use Hashi. It uses the technology behind LayerZero, a popular way to connect different blockchains. If you want to learn more about how blockchains talk to each other, check out our guide on LayerZero Omnichain Apps.

What is Hashi?

Hashi is a decentralized application, or dApp. It allows you to exchange one cryptocurrency for another, even if they live on different blockchains. Think of it like swapping dollars for euros, but for crypto. You don’t need to send your crypto to a centralized exchange and back. You can do it right from your own crypto wallet.

How Hashi Works (Simply Put)

Hashi uses a smart contract system. When you want to swap, say, USDC on Ethereum for MATIC on Polygon, Hashi locks your USDC. Then, it uses a network of validators to confirm the transaction across both chains. Finally, it sends the MATIC to your wallet on the Polygon network. This whole process happens automatically and securely.

Step-by-Step Guide to Using Hashi

1. Connect Your Wallet: Go to the Hashi app. You’ll see an option to connect your cryptocurrency wallet (like MetaMask). Click it and approve the connection in your wallet.
2. Select Your Tokens: Choose the token you want to send (the ‘from’ token) and the token you want to receive (the ‘to’ token). Also, select the blockchain you are sending from and the blockchain you want to receive on.
3. Enter the Amount: Type in how much of the ‘from’ token you want to swap. Hashi will show you an estimate of how much of the ‘to’ token you will get.
4. Review the Transaction: Look carefully at the details. You will see the amount you are sending, the estimated amount you will receive, and the network fees.
5. Approve the Swap: Click the ‘Swap’ button. Your wallet will pop up asking you to confirm the transaction. You will need to pay a small gas fee on the ‘from’ blockchain for this step.
6. Wait for Confirmation: Hashi will process the swap. This can take a few minutes depending on the speed of both blockchains. You can usually track the progress within the Hashi app.
7. Receive Your Tokens: Once the swap is complete, the ‘to’ tokens will appear in your wallet on the destination blockchain.

Why Use Hashi?

Hashi offers several benefits:

• Convenience: Swap tokens directly without moving them between exchanges.
• Speed: Often faster than traditional methods of moving assets between chains.
• Security: Uses decentralized technology, reducing reliance on central points of failure.
• Access to Multiple Chains: Easily use tokens and dApps on different blockchain networks.

For other ways to move assets across chains, you might find our guide on Stargate Bridging helpful.

Using tools like Hashi is becoming essential for anyone involved in decentralized finance. It opens up possibilities to use different applications and take advantage of opportunities on various blockchains.