Building a Token Swapping dApp With React and Moralis

Decentralization is now an important part of our daily lives, whether we realize it or not. We see it in finance, the arts, data ownership, and a variety of other areas.

Token swapping is a crucial aspect of finance, particularly decentralized finance. You’ve come to the right place if you want to learn more about tokens, token swapping and how it works.

This article will go over the fundamentals of tokens and token swaps. Finally, we will use React and the Moralis to create our token swapping dApp.

What is a token?

Crypto tokens are a sort of cryptocurrency that symbolizes an item or a specific use and has its own blockchain. Tokens can be used to make investments, store value, or make purchases.

Some popular tokens are:

Tether USD (USDT)
Litecoin
Auroracoin
Dogecoin
Peercoin
Namecoin

What is token swapping?

Token swapping is the exchange of one token for another on a different blockchain protocol in real time.

Token swapping, as the name implies, involves swapping two tokens. Assume you have token A but prefer token B. So, on a swapping platform, you will pay an agreed amount of token A to another person and receive an agreed amount of token B in return.

Swapping has a significant advantage in that there is no need to use a fiat currency during the swapping process, and it is a simple and quick.

What is Moralis?

Moralis is a platform that provides tools and services that make it extremely simple to create, improve, and maintain dApps. Moralis-based Dapps are cross-platform by default, and can run on Ethereum, Polygon, Solana, Elrond, and BSC, with many more supported chains on the way.

Moralis handles the heavy lifting and simplifies the dApp development process by performing all background work that can be called by the developer with a few lines of code. They have SDKs for:

React
Vanilla JavaScript
Unity
Node.js

One advantage of Moralis is that it includes boilerplate code for React Native and Unity projects, as well as boilerplate code for NFT marketplaces. It essentially reduces the developer’s stress

Let’s start building.

Before we get into the code, we need to sign up for Moralis. To do that, open your browser and navigate to the Moralis signup page to create a new account or log in if you’ve already signed up.

After logging in, you should be presented with an admin dashboard. You can create new dApps on this page, view active and terminated dApps and links to boilerplates for developing games, tokens, and NFT marketplaces.

Next, we choose an environment and network on which our dApp will run. Because this is a test, we will select testnet as our environment. And for our network, we will go with Ether Rinkeby.