How to Use Unicity OTC Swap

What is Unicity OTC Swap?

Unicity OTC Swap is a trustless, non-custodial broker service that enables secure asset exchanges between two parties across different blockchain networks. Unlike traditional exchanges, there are no liquidity pools, order books, or third-party custody—just a direct peer-to-peer swap facilitated by smart escrow mechanisms.

How It Works

The service operates with two parties:

• Seller A (Asset A Seller): Wants to sell Asset A and receive Asset B
• Seller B (Asset B Seller): Wants to sell Asset B and receive Asset A

Why Use Unicity OTC Swap?

• Trustless: No need to trust a counterparty or exchange
• Non-custodial: You maintain control until the swap executes
• Cross-chain: Swap assets across different blockchains (ETH, Polygon, Unicity, etc.)
• Transparent: Track deal status in real-time
• Fair pricing: You set your own exchange rates

Seller A's Guide: Asset A Seller

As Seller A, you're initiating or participating in a deal where you'll sell Asset A and receive Asset B. Follow these steps:

Step 1: Create or Receive a Deal

Option A: Create a new deal

1. Visit the Create Deal page
2. Select your asset (Asset A) - chain, asset type, and amount
3. Select Seller B's asset (Asset B) - chain, asset type, and amount
4. Set the timeout period (typically 30-60 minutes)
5. Click "Create Deal"
6. Save your personal tracking link (Asset A Seller Link)

Option B: Receive an invitation

1. Seller B creates the deal and shares the Asset A Seller link with you
2. Open your personal tracking link

Step 2: Fill in Your Details

1. Open your personal tracking page (Asset A Seller Link)
2. Enter your receiving address for Asset B (where you want to receive the swapped asset)
3. Optionally enter your email for status notifications
4. Click "Submit Details"

Step 3: Wait for Seller B to Submit Details

The deal remains in CREATED state until Seller B also submits their details. Once both parties have submitted:

• Deal moves to COLLECTION state
• Countdown timer starts (e.g., 30 minutes)
• Escrow deposit address is revealed

Step 4: Send Your Deposit

Once in COLLECTION state:

1. Copy the escrow deposit address shown on your tracking page
2. Send EXACTLY the specified amount of Asset A to this address
3. Send in a single transaction (don't split into multiple sends)
4. Wait for blockchain confirmations

Step 5: Wait for Confirmations

After both you and Seller B deposit funds:

• Deal moves to WAITING state
• Countdown timer suspends (you won't lose time during confirmations)
• System waits for required blockchain confirmations on both deposits
• Your tracking page shows confirmation progress

Step 6: Automatic Swap Execution

Once both deposits reach required confirmations:

• Deal moves to SWAP state
• Countdown timer is removed permanently
• Broker executes the swap automatically
• Asset B is sent to your receiving address
• Asset A is sent to Seller B's receiving address

Step 7: Receive Your Assets

• Deal moves to CLOSED state
• Check your wallet for the received Asset B
• Transaction hashes are displayed on your tracking page
• The swap is complete!

What If Something Goes Wrong?

If the deal times out or encounters issues:

• Deal moves to REVERTED state
• Your deposit is automatically refunded to your receiving address
• Check the "Refund Status" section on your tracking page

Seller B's Guide: Asset B Seller

As Seller B, you're participating in a deal where you'll sell Asset B and receive Asset A. Your process is similar to Seller A's:

Step 1: Create or Receive a Deal

Option A: Create a new deal

1. Visit the Create Deal page
2. Select Seller A's asset (Asset A) - chain, asset type, and amount
3. Select your asset (Asset B) - chain, asset type, and amount
4. Set the timeout period
5. Click "Create Deal"
6. Save your personal tracking link (Asset B Seller Link)

Option B: Receive an invitation

1. Seller A creates the deal and shares the Asset B Seller link with you
2. Open your personal tracking link

Step 2: Fill in Your Details

1. Open your personal tracking page (Asset B Seller Link)
2. Enter your receiving address for Asset A (where you want to receive the swapped asset)
3. Optionally enter your email for notifications
4. Click "Submit Details"

Step 3: Wait for Seller A to Submit Details

Once both parties submit details, the deal moves to COLLECTION and the countdown begins.

Step 4: Send Your Deposit

1. Copy the escrow deposit address from your tracking page
2. Send EXACTLY the specified amount of Asset B
3. Use a single transaction
4. Wait for confirmations

Step 5-7: Confirmation, Swap, and Completion

The remaining steps are identical to Seller A's process:

• WAITING: Confirmations in progress
• SWAP: Broker executing swap
• CLOSED: Asset A received!

Understanding Deal States

Every deal progresses through a series of states. Understanding these states helps you track progress and know what to expect:

State Transition Flow

CREATED
   (Both parties submit details)
COLLECTION
   (Both parties deposit funds)
WAITING
   (Confirmations complete)
SWAP
   (Transfers complete)
CLOSED

Note: Any state can move to REVERTED if timeout occurs or issues arise

Expected Timeline

Here's what to expect for timing during each stage of a typical deal:

Deal Creation (Instant)

• Creating a deal: <1 second
• Submitting party details: <1 second

Collection Phase (User-dependent)

• Depends on when both parties deposit
• Typical timeout setting: 30-60 minutes
• Best practice: Deposit as soon as deal enters COLLECTION

Confirmation Phase (Blockchain-dependent)

• Ethereum: 3 confirmations (approximately 45 seconds)
• Polygon: 64 confirmations (approximately 2-3 minutes)
• Unicity: 6 confirmations (approximately 1 minute)
• Solana: 32 confirmations (approximately 20 seconds)

Swap Execution (2-5 minutes)

• Transaction construction: ~30 seconds
• Broadcasting both transfers: ~30 seconds
• Waiting for transfer confirmations: 1-4 minutes

Total Typical Duration

Security & Best Practices

How Your Funds Are Protected

1. Non-Custodial Design

The broker never takes custody of your funds in a way where they could be stolen:

• Escrow addresses are generated deterministically using HD wallets
• The broker can only execute the swap according to the deal terms
• If the deal fails, refunds are automatic and mandatory

2. Atomic Swap Guarantee

Once both deposits are confirmed and locked:

• The swap will execute atomically (both transfers or neither)
• Neither party can cancel or withdraw during SWAP state
• Even if one transfer fails, it will be retried automatically

3. Reorg Protection

The system protects against blockchain reorganizations:

• Confirmations are set above typical reorg depths
• If a reorg invalidates deposits, deal reverts to COLLECTION
• Timer resumes to give parties time to re-deposit

Best Practices

What Could Go Wrong?

Frequently Asked Questions

General Questions

Q: What chains are supported?

A: Currently supported chains include:

• Unicity PoW (mandatory - at least one side must be Unicity)
• Ethereum (Mainnet and Sepolia testnet)
• Polygon
• Base
• Additional chains can be added by the operator

Q: What's the minimum/maximum swap amount?

A: Limits depend on the specific deployment configuration. Check the deal creation page for current limits. Production deployments typically enforce reasonable minimums to ensure swaps are economically viable after gas costs.

Q: Can I cancel a deal?

A: Not directly once you've deposited, but:

• In CREATED state: Simply don't proceed (no funds involved)
• In COLLECTION state: Wait for timeout and receive automatic refund
• In WAITING/SWAP states: Cannot cancel (funds are locked for swap)
• In REVERTED state: Refund is automatic

Q: What happens if only I deposit?

A: If the other party doesn't deposit before timeout:

• Deal enters REVERTED state
• Your deposit is automatically refunded to your receiving address

Q: Can I do multiple swaps simultaneously?

A: Yes! Each deal is independent. You can participate in multiple deals at the same time, each with its own tracking link.

Technical Questions

Q: What if there's a blockchain reorg?

A: The system handles reorgs gracefully:

• If a reorg happens before locking: Deal reverts from WAITING back to COLLECTION
• Timer resumes to give parties time to re-deposit
• After locking: Reorgs are extremely unlikely due to confirmation depths

Q: What are "confirmations"?

A: Confirmations are the number of blocks added after your transaction block. More confirmations = more security against reorgs. Each chain has different confirmation requirements based on its security model.

Q: Why did my transaction fail with "insufficient gas"?

A: For EVM chains, you need native currency for gas:

• Sending ETH on Ethereum: Need extra ETH for gas
• Sending USDT on Polygon: Need MATIC for gas
• The escrow address may be funded with gas automatically (depends on configuration)

Q: What is the "tank wallet"?

A: Some deployments use a "tank wallet" to automatically fund escrow addresses with gas for EVM chains. This is transparent to users—if enabled, the operator's tank pays for your gas and gets refunded after successful swaps.

Troubleshooting Questions

Q: My deposit isn't showing up. What do I do?

A: Check the following:

1. Verify transaction was confirmed on-chain (use block explorer)
2. Ensure you sent to the correct escrow address
3. Confirm you sent the exact amount required
4. Wait for required confirmations (shown on tracking page)
5. If still not showing after confirmations, contact support with transaction hash

Q: The countdown timer hit zero. What happens?

A: Deal enters REVERTED state:

• All deposits are automatically refunded
• Check "Refund Status" section on your tracking page
• Refunds go to the receiving address you specified

Q: Can I get help with a stuck deal?

A: Yes! Contact support with:

• Your deal ID (shown on tracking page)
• Current deal state
• Your role (Seller A or Seller B)
• Description of the issue
• Transaction hashes if applicable

Troubleshooting Common Issues

Issue: Can't Access My Tracking Page

Symptoms: Lost my tracking link or it doesn't work

Solutions:

• Check browser history for the tracking URL
• Search email for invitation with the link
• If you know the deal ID and your token, reconstruct URL: /d/{dealId}/a/{token} or /d/{dealId}/b/{token}
• Contact support with any deal information you have

Issue: "Submit Details" Button Doesn't Work

Symptoms: Button is disabled or nothing happens when clicked

Solutions:

• Ensure you've filled in a valid receiving address for your chain
• Check browser console for errors (F12 then Console tab)
• Try a different browser
• Verify you have internet connectivity
• Wait a few seconds and try again (might be a temporary network issue)

Issue: Sent Wrong Amount

Symptoms: Deposited more or less than required amount

Solutions:

• Less than required: Deal will likely timeout and refund
• More than required: Excess is treated as surplus and may be used for commission or refunded
• Prevention: Always send EXACTLY the amount shown
• Contact support with transaction hash for assistance

Issue: Transaction Not Confirming

Symptoms: My transaction is stuck "pending"

Solutions:

• Low gas price: For EVM chains, you can speed up the transaction by replacing it with higher gas
• Network congestion: Wait for congestion to clear
• Check block explorer: Verify transaction was actually broadcast
• If deal times out before confirmation, you'll receive a refund

Issue: Deal Shows REVERTED

Symptoms: Deal state changed to REVERTED unexpectedly

Reasons:

• Countdown timer reached zero before both parties deposited
• One party deposited insufficient amount
• Blockchain reorg invalidated deposits and timeout occurred

Resolution:

• Check "Refund Status" section on tracking page
• Your deposit will be refunded automatically to your receiving address
• Wait for refund confirmation (usually within minutes)
• If refund doesn't arrive, contact support with deal ID

Issue: Refund Not Received

Symptoms: Deal reverted but refund hasn't arrived

Solutions:

• Check your receiving address in a block explorer
• Verify you submitted the correct receiving address initially
• Wait for network confirmations (may take a few minutes)
• Check tracking page for refund transaction hash
• If no refund after 30 minutes, contact support urgently

Issue: Swap Completed but Asset Not in Wallet

Symptoms: Deal shows CLOSED but I don't see my asset

Solutions:

• Token not added to wallet: For ERC-20/SPL tokens, you may need to manually add the token contract to your wallet
• Check block explorer: Verify the transfer transaction was confirmed
• Wrong wallet: Ensure you're checking the wallet with the receiving address you provided
• Wallet sync issue: Try refreshing your wallet or switching networks
• Copy the payout transaction hash from tracking page and look it up on block explorer

When to Contact Support

Get Support

Need help? We're here to assist you with any issues or questions about your OTC swap.

Before Contacting Support

1. Check the FAQ and Troubleshooting sections above
2. Gather relevant information:
   • Your deal ID
   • Your role (Seller A or Seller B)
   • Current deal state
   • Transaction hashes (if applicable)
   • Screenshots of any errors
3. Check your tracking page for status updates

Contact Information

Response Times

• Critical issues (missing funds, security concerns): Within 1-2 hours
• High priority (deal stuck, timeout concerns): Within 4-6 hours
• General questions (how-to, clarifications): Within 24 hours