Peoples Reserve Swap Engine
The Swap Engine allows you to trade between supported assets like Bitcoin, Ethereum, and prUSD directly within your Peoples Reserve account. Instead of moving funds to external exchanges, you can manage your portfolio instantly with fees that decrease as your PRN loyalty grows.
Table of Contents
- What is the Peoples Reserve Swap Engine?
- Which assets are currently supported for swapping?
- How are swap fees calculated?
- What are the specific fee tiers?
- Why did my swap quote change before I confirmed it?
- Can I reverse a swap if I made a mistake?
- What should I do if my swap fails?
- How do I swap?
- Related Articles
What is the Peoples Reserve Swap Engine?
The Swap Engine is an internal tool that allows you to instantly exchange one digital asset for another (e.g., BTC to prUSD) directly within your PRN account. It eliminates the need to transfer funds to external exchanges, reducing both risk and transaction time.
Which assets are currently supported for swapping?
You can swap between a curated selection of assets, including:
- Cryptocurrencies: Bitcoin (BTC) and Ethereum (ETH).
- Stablecoins: prUSD, USDC, and Tether (USDT).
- Platform Tokens: PRN (Loyalty Token) and prBTC (Bitcoin-pegged token).
How are swap fees calculated?
Fees are percentage-based and determined by your Loyalty Level. This level is dynamic and is calculated based on the ratio of PRN tokens you hold compared to your total portfolio and mortgage balances.
What are the specific fee tiers?
| Loyalty Level | Standard Fee | Fee if Paid with PRN |
|---|---|---|
| Basic | 1.49% | No Discount |
| Silver | 1.00% | 5% Discount |
| Gold | 0.50% | 10% Discount |
| Diamond | 0.25% | 20% Discount |
Why did my swap quote change before I confirmed it?
Quotes are estimates based on real-time data. They may update due to:
- Market Volatility: Rapid changes in the price of the assets.
- Loyalty Level Shifts: If your PRN ratio changes, your fee tier may adjust.
- Timeouts: If you wait too long on the confirmation screen, the quote refreshes to ensure accuracy.
Can I reverse a swap if I made a mistake?
What should I do if my swap fails?
First, check your account balances to see if the transaction actually went through. If not, return to the Swap Engine and try again. Common reasons for failure include not clicking the final confirmation button or a session timeout. Only click "Confirm" once to avoid duplicate transactions.
How do I swap?
To swap, log in to your PRN account and navigate to the Swap Engine. Select which assets and the amount you would like to swap. You will be able to review the estimated fee and rate before finalizing. For an in-depth guide on the step-by-step process, click here.