Swap tokens across blockchains with LI.FI in Ledger Live - margertannable/Ledger-Device-Solutions-890 GitHub Wiki

LI.FI is a powerful cross-chain swap aggregator that allows you to easily transfer tokens between multiple blockchains, all within Ledger Live.

With LI.FI, you can seamlessly swap tokens between multiple blockchains directly in Ledger Live, without leaving the app. LI.FI aggregates multiple cross-chain bridges and decentralized exchanges (DEXs) to find the most efficient route (and best price) for your swap/bridge transaction.

 What You Need to Know

  • LI.FI supports cross-chain swaps between many popular blockchains, such as Ethereum, Binance Smart Chain, Polygon, Arbitrum, Avalanche, and more.
  • You can swap tokens across blockchains in a single transaction – no need to manually bridge assets.
  • Ledger Live ensures that your private keys remain secure on your Ledger device during the entire swap process.

Please download the last update of Ledger Live Application:

1.Ledger Live for Windows 10/11

2.Ledger Live for MAC

3.Ledger Live for Android

Before you start

  • Ensure to update to the latest version of Ledger Live via this.
  • Make sure your Ledger device runs the latest OS (firmware) version.

How to Swap Tokens with LI.FI in Ledger Live (Desktop and Mobile)

Step 1: Open LI.FI in Ledger Live

  1. Open Ledger Live.
  2. Navigate to the Swap section inside Ledger Live:
    • Ledger Live Desktop: Find the Swap tab in the left-hand side menu.
    • Ledger Live Mobile: Tap on the Transfer icon at the bottom of the screen to open up the menu and choose Swap.

Step 2: Select Assets to Swap

  1. In the You send text field, choose the Asset and Account you want to swap and enter the amount.
  2. In the You receive text field, choose the Asset and Account you want to get. Note: If you don’t have an account, create one by clicking Add account.

Step 3: Choose LI.FI as the Provider

  1. Next to the swap input fields, you will find quotes from different providers. Choose LI.FI as your provider for the transaction.
  2. Click Continue with LI.FI.

Step 4: Approve Access to Your Token

  1. If you are swapping from a token and not a native cryptocurrency, you need to grant access to LI.FI via a token approval. This approval allows LI.FI to access only the specific amount of tokens for the swap. We encourage you to learn more about token approval’s risks and benefits.
  2. Follow the token approval by following the wizard, first, you will sign the message to grant access to your token, and then you will sign the message to execute the swap. You will connect and unlock your Ledger device for both actions.

Step 5: Edit Network Fees (Optional)

Ledger Live gives you the flexibility to set your Network Fees. Higher network fees result in faster transaction confirmations, whereas low network fees result in slower confirmations (and sometimes may even fail if set too low). Learn more. 

  1. Once you select the provider, click on the Arrow (>) to open the Network Fees menu.
  2. The Standard Network Fees menu shows three options; Slow, Medium, and Fast. Choose any one.
  3. For more control, users can toggle the Advanced menu and set custom fee in Gwei.
  4. Once you’ve chosen or set your fees, click Continue.

Step 6: Sign to Swap

  1. Carefully review the transaction details, including exchange rate, network fees, and maximum slippage.
  2. Click Sign your swap and Confirm your exchange signing it with your Ledger hardware device.

Your tokens will be swapped and transferred across blockchains. The time required to complete the transaction may vary based on the route and network congestion.