While a Token Swap involves selling or locking up one asset to purchase another asset, Token Migration is the transfer of tokens from one blockchain to another. Here's how to distinguish these terms 👇
Cross-chain token swaps, on the other hand, require blockchain bridges. Some popular examples are Celer cBridge, AnySwap, Cross-Chain Bridge, Multichain, Portal Token Bridge , Synapse, Hop Protocol, Stargate Finance and more.Remember that a token migration cannot be conducted at an individual level. This decision needs to first come from the developers of the project, and they will decide how the token migration process should go. There are several ways this can play out.
You may be required to handle the token migration process by yourself if you self-custody the tokens. This doesn’t necessarily mean that you need to have any background in tech. User experience in the crypto space has improved significantly over the past few years and migrating a self-held token can be as easy as just a few clicks. Most projects will create tools to assist holders with the migration process.
Alternatively, if your tokens are held on a centralized exchange, there is a high probability that the exchange will handle the token migration process on your behalf.Although it may be used interchangeably, a token swap is quite different from a token migration. While a token swap involves selling or locking up one asset to purchase another asset, token migration is the transfer of tokens from one blockchain to another.
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