🔃What are Atomic Swaps?

Atomic Swaps are peer-to-peer mechanisms that allow users to exchange cryptocurrencies without relying on a third party or centralized exchange. This trustless swap process is essential for decentralized finance (DeFi) on Bitcoin.

With FireMints, Atomic Swaps enable users to trade Counterparty assets, like Rare Pepes or Spell of Genesis tokens, directly with Bitcoin, securely and efficiently. This eliminates the risks associated with custodial platforms, where user assets are held by a third party, altering the principles of trust on the blockchain, often resulting in increased vulnerability to hacks or frozen withdrawals​.

Atomic Swaps are a fundamental technology for the rise of DeFi on Bitcoin, providing a decentralized, transparent, and secure way to trade assets while maintaining full control of your private keys. With Atomic Swaps, users can engage in trading without middlemen, reducing fees and avoiding unnecessary transaction delays​.