Swap
Overview
Section titled “Overview”Swap allows users to buy and sell supported market tokens using their available balance in the Savings Account. The service operates as an internal OTC conversion mechanism within Qaay, enabling direct asset-to-asset exchanges without interacting with external order books.
Prices are calculated in real time by the Qaay Oracle and displayed transparently before confirmation, allowing users to review the final outcome before execution.
Key Concepts
Section titled “Key Concepts”| Term | Definition |
|---|---|
| Swap | An internal OTC conversion service that allows users to exchange one supported asset for another using their Savings Account balance. |
| Savings Account | The account section from which Swap transactions can be executed. |
| Credit Line | The credit-enabled account section. Assets held here must be transferred to the Savings Account before they can be swapped. |
| Buy Rate | The real-time rate at which a selected asset can be purchased through Swap, calculated by the Qaay Oracle. |
| Sell Rate | The real-time rate at which a selected asset can be sold through Swap, calculated by the Qaay Oracle. |
| Swap Fee | The service Fee for a Swap transaction. This Fee is zero for Premium, Plus, and Business Tiers. |
| Tier Level | The user’s membership level, which determines Swap Fee conditions, maximum transaction limits, and Cashback percentage. |
| Cashback | A reward credited after each Swap transaction. The rate varies by Tier and ranges from 0.5% to 8%. |
| Maximum Swap Amount | The maximum Swap value per transaction, determined by the user’s Tier level. |
| Minimum Swap Amount | The minimum Swap value per transaction is 10 USD, set due to network-related costs. |
How Swap Works
Section titled “How Swap Works”Swap functions as an internal OTC exchange within Qaay, allowing users to convert supported cryptocurrencies directly from their Savings Account balance.
Assets in the Credit Line cannot be swapped directly. To use these funds for Swap, transfer them to the Savings Account. Transfers between Credit Line and Savings are instant and internal.
Buy and sell rates are calculated in real time by the Qaay Oracle and displayed transparently before confirmation. These rates are identical across all Tier levels. Tier status does not affect pricing.
The Swap Fee depends on the user’s Tier level. For Premium, Plus, and Business Tiers, the Swap Fee is zero. For other Tiers, the applicable Fee is displayed before confirmation.
Each Swap transaction also generates a Cashback reward, calculated as a percentage of the transaction amount. The Cashback rate is Tier-based and may reach up to 8%, depending on the user’s Tier level.
Swap transactions can only be executed using assets in the Savings Account. Assets in the Credit Line must be transferred to Savings before conversion.
Each transaction must meet the minimum Swap requirement of 10 USD. This threshold is set due to network-related costs.
If a user holds a very small residual balance of a cryptocurrency, the asset can first be converted into the QAAY Token through Swap. After consolidation into the QAAY Token, the balance may then be swapped into other supported assets as needed. This mechanism enables efficient management of minor residual holdings within the platform.
The maximum Swap amount per transaction depends on the user’s Tier level. Higher Tiers may allow larger transaction sizes.
If a user holds a small residual balance of a cryptocurrency, the asset can first be converted into the QAAY Token. After consolidation, the balance can then be swapped into other supported assets as needed. This mechanism helps users efficiently manage small residual holdings within the platform.
Buy and sell rates are the same across all Tier levels. Tier level affects Fees, Cashback rate, and transaction limits, but not pricing.
Once a Swap transaction is confirmed, the selected asset is deducted from the user’s Savings Balance and replaced with the purchased asset at the displayed rate.
The conversion is executed internally within Qaay’s infrastructure, without exposure to external order book volatility.
Cashback is credited automatically after the Swap transaction is completed. The Cashback rate applied corresponds to the user’s Tier level at the time of execution.
All Swap transactions are permanently recorded in the Transaction Registry. Each record includes asset details, transaction value, applied rate, Cashback amount, and execution timestamp. These entries are immutable and cannot be modified.
Best Practices
Section titled “Best Practices”Swap is designed for users seeking to rebalance their portfolios or efficiently enter new market positions within the Qaay ecosystem.
Because rates are determined in real time by the Qaay Oracle and displayed before confirmation, users can evaluate conversion outcomes prior to execution.
Tier level plays a strategic role in optimizing Swap efficiency. While pricing is identical across Tiers, higher Tiers benefit from waived Swap Fees and higher Cashback percentages.
Qaay does not impose a fixed daily limit on Swap transactions. Users may perform multiple swaps per day, provided sufficient balance is available in the Savings Account. Each swap must meet the minimum requirement of 10 USD, and the transaction Fee is determined by the user’s Tier level.
Since Cashback can reach up to 8 percent, depending on Tier level, active users may strategically align Swap activity with their Tier benefits to maximize effective returns.
Swap supports capital flexibility within Qaay, enabling portfolio reallocation without withdrawing assets from the platform.