Definition
A token swap has two common meanings. In trading, it is an exchange between tokens at an agreed or market-derived rate. In a project migration, it refers to converting old token units into a new version, sometimes when changing a contract or moving to another blockchain. The context must be stated clearly.
How It Works
A trade may execute through a pool or exchange. A migration instead follows a specified conversion procedure, which can involve depositing old tokens, receiving replacements or an automatic distribution. Conversion ratios, eligible holdings and deadlines depend on the project and should be verified in current official instructions.
Key Considerations
A replacement token is not automatically more valuable, and migration is not necessarily available through every wallet or platform. Fraudulent migration sites can seek signatures or approvals that expose assets. Verify the official contract and process rather than acting on unsolicited messages. Distinguish a token migration from a bridge transfer, and avoid assuming that an old token remains supported indefinitely after a new version launches.