# DeFo

Decentralized ForEx (DeFo) is the Neutrino (opens new window) protocol interface, providing effective tools for swapping stable assets via smart contract. Smart contract ensures reliability, transparency, and virtually unlimited liquidity at a predetermined rate. Stable assets serve as crypto equivalent to their underlying fiat analogs. For example, EURN crypto asset is pegged to EUR fiat asset and always has the same exchange rate.

Note: On Saturday and Sunday from 00:00 (UTC+03:00 Moscow) to 23:59 (UTC+03:00 Moscow), the exchange rates do not change.

DeFo supports swapping the following stable assets:

Stable assets are profitable. If you have stable assets on your Waves account, you can stake them to avoid the risk of volatility and increase your income. Staking stable assets allows to make daily interest with a dynamic rate in an average of 15% annually. Read more about DeFo Staking.

Note: You can get stable assets by trading on exchange or you can click Buy USDN to proceed to payment method selection screen to buy USDN with a bank card. You can then swap your USDN to any other supported stable asset.

# How to Swap Stable Assets

Open Waves.Exchange (opens new window) app, login to your account and navigate to the DeFo (opens new window) tab.

You can instantly swap your stable assets between each other by the current exchange rate that is regulated by the Smart Contract. The rates are updated once a minute.

My Balances tile displays current total (available + reserved) balances of the stable assets on you Waves account.

Select a pair of stable assets that you want to swap and fill in the I send field. Select the Transaction Fee Options checkbox to enable selection of the fee asset.

In the I receive field the approximate amount of the selected asset that you will receive will be displayed. The current exchange rate will be displayed below the fields. The Transaction Fee and the Liquidity Provider Fee will be displayed below the I receive field. The Liquidity Provider Fee is a fee that is charged for each swapping transaction and sent to liquidity providers as a reward, according to the protocol. The Liquidity Provider Fee is included in the total amount displayed in the I receive field.

Click Swap X to Y (where X to Y is the selected pair).

Note: If your swap was received at the time of the rate update, it will be resolved at the updated rate, which may differ from the previous one.

The exchange process is instant. If you experienced a delay, then contact support service to resolve the situation.

See more articles in the Asset Management chapter.

If you have difficulties with Waves.Exchange, please create a support (opens new window) ticket or write a question on our forum (opens new window).