There are many exchange services on the market that allow users to buy and sell cryptocurrencies for traditional currencies or for other cryptos. However, due to the limited liquidity and number of trading pairs on each exchange, users that want to trade directly between two crypto tokens are sometimes unable to do so.

Token swaps can refer to one of two things: 1. Direct exchange of a certain amount of one cryptocurrency token for another between users facilitated by a special exchange service. 2. Migration of a cryptocurrency token built on top of one blockchain platform to a different blockchain.

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