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Swaps

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How pricing works

BlankFX uses oracle-anchored pricing for FX swaps. Instead of deriving the rate from pool ratios, the protocol reads the current FX rate from on-chain oracles and applies a small spread. This means:
  • The rate you see is close to the oracle mid-rate
  • Large trades don’t cause significant price impact
  • The execution path is selected for best price

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Swap types

The protocol routes your trade automatically based on the tokens involved: You don’t need to think about routing. The interface selects the optimal path automatically.

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USD Hub swaps

Swaps between USD-denominated stablecoins (USDC, USDT, RLUSD) happen inside the USD Hub. These are essentially 1:1 swaps with a minimal spread, since all tokens represent the same underlying currency.

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Cross-currency swaps

When you swap between different currencies (e.g. USDC to EURC), the protocol:
  1. Takes your input token into the USD Hub
  2. Reads the EUR/USD oracle rate
  3. Calculates the output amount minus spread
  4. Sends the output token from the EUR Pool to your wallet
Settlement is atomic — either the full swap completes or nothing happens. No partial fills.

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Gasless swaps

BlankFX supports gasless execution. Instead of submitting an on-chain transaction yourself, you sign an off-chain message and the relay service submits it for you. The gas cost is built into the swap spread, so you never see a separate gas charge. From your perspective: quote, confirm, receive tokens. Requirements for gasless swaps:
  • One-time token approval to the Permit2 contract (this is an on-chain transaction that costs gas)
  • After that, all swaps are gasless via the BlankFXRelayRouter

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Slippage and minimum output

Every swap includes a minimum output amount to protect you from unexpected rate changes between quoting and execution. The default rate tolerance is 0.5%. If the rate moves unfavorably beyond your tolerance, the transaction reverts and you keep your tokens. You can adjust this in Exchange settings.