> For the complete documentation index, see [llms.txt](https://docs.xft.finance/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.xft.finance/bitnet/technical/swap-facilities/xftassetswaps_v5.md). # XFTAssetSwaps\_V5 XFT acts as the liquidity provider and escrow manager, enabling instant redemptions for illiquid CLO shares. XFTAssetSwaps\_V4 [0xfbae4ba53a2FcCD599047d4B2Ff77647e0eb308C](https://sepolia.arbiscan.io/address/0xfbae4ba53a2FcCD599047d4B2Ff77647e0eb308C)\ XFTAssetSwaps\_V5 [0x05EC1faCe695f78a5A9530c612345603f926EAa7](https://sepolia.arbiscan.io/address/0x05ec1face695f78a5a9530c612345603f926eaa7)\ USDXT [0xC1BF9854E43b84f3abec5f5d1C72F0a6f602034b](https://sepolia.arbiscan.io/token/0xC1BF9854E43b84f3abec5f5d1C72F0a6f602034b)\ OCTIX [0x42bAcAaE1D28b3310a4415cb1684491A2fdcC65E](https://sepolia.arbiscan.io/address/0x42bacaae1d28b3310a4415cb1684491a2fdcc65e) COUNTERPARTIES XFT [0x2f572059DbC598C8acfeA4AF06FE4f7669D1b3b1](https://sepolia.arbiscan.io/address/0x2f572059DbC598C8acfeA4AF06FE4f7669D1b3b1)\ Octagon [0x82fcEd3D9D0CC5e770C00a3763354B76AF140546](https://sepolia.arbiscan.io/address/0x82fcEd3D9D0CC5e770C00a3763354B76AF140546)\ Investor [0xE4e26f8B4C69E554a113880cF40D21ca70d51e0a](https://sepolia.arbiscan.io/address/0xE4e26f8B4C69E554a113880cF40D21ca70d51e0a) **INSTANT REDEMPTION** 1\. Investor requests redemption from OCTAGON\ 2\. OCTAGON notifies XFT\ 3\. XFT initiates escrow mint via `swap.connect(admin).initiateEscrowMint()`\ \ 4\. Investor deposits OCTIX and gets USDXT\ 5\. XFT releases escrow as OCTAGON pays USD **INSTANT SUBSCRIPTION** 1\. Investor requests subscription from OCTAGON\ 2\. OCTAGON notifies XFT\ 3\. XFT calls `initiateEscrowMint(id, investor, USDXT, OCTIX, amount, timelock)`\ 4\. Investor calls `depositEscrow(id)` → locks USDXT + mints OCTIX\ 5\. XFT calls `releaseEscrow(id, amount)` → sends USDXT to OCTAGON **Why instant redemption?**\ Liquidity management. **Why instant subscription?**\ Programmable 24/7/365 investing at NAV. **Why standard?**\ Permissionless atomic P2P swaps. *** ### CORE FUNCTIONALITY * Hash Time Locked Contracts (HTLC) * Salts * Standard vs. Escrow **Hash Time Locked Contracts (HTLC)** The protocol combines cryptographic hash locks with time-based expiration to enable trustless atomic swaps. Each swap requires a secret preimage generating a cryptographic hash, ensuring exchanges execute atomically or not at all. Time locks provide automatic refunds if swaps remain incomplete. **Salt-based ID Generation** The contract generates unique swap identifiers using salt parameters combined with sender addresses and blockchain data. Zero salt values trigger automatic collision-resistant generation. Non-zero salts enable predictable coordination while maintaining sender-specific uniqueness. **Standard & Escrow.** XFTAssetSwaps\_V5 offers two types of swaps. Standard for P2P trustless exchange with hashlock reveal. Escrow for admin-controlled instant minting *** #### SWAP TYPES **1) STANDARD** No admin involvement: Parties swap tokens directly using cryptographic proofs. Permissionless. 1 Initiator locks tokens with hashlock (secret preimage)\ 2 Participant locks counterpart tokens\ 3 Either party reveals preimage to unlock both sides\ 4 Time-locked refunds if not completed **2) ESCROW** Admin-controlled operations enabling instant token minting against locked collateral deposits. Users deposit escrow tokens and receive minted tokens immediately upon confirmation. Administrators progressively release escrowed collateral to designated recipients as external payment confirmations arrive, supporting partial release mechanisms and emergency refund capabilities. *** ### SEQUENCES **STANDARD SWAP**\ 1 Alice calls `initiateSwap(id,Bob,assetA,assetB,amtA,amtB,hl,tl)`\ 2 Bob calls `participateSwap(id)`\ 3 either calls `claimSwap(id,preimage)` → assets swapped\ 4 after tl either calls `refundSwap(id)` → deposits returned ``` Alice: 100 USDX → Contract Bob: 100 USDXT → Contract Alice reveals preimage → gets 100 USDXT Bob uses preimage → gets 100 USDX ```
**ESCROW**\ 1 Admin calls `initiateEscrowMint(id,User,escrowToken,mintToken,amt,tl)`\ 2 User calls `depositEscrow(id)` → escrowToken locked + mintToken minted\ 3 Admin calls `releaseEscrow(id,partialAmt)` → escrowToken → recipient\ 4 Admin calls `releaseEscrow(id,remainingAmt)` → final release ``` User: 100 FOBXX → Contract Contract: 100 USDXT → User (instant) Admin: releases 50 FOBXX → Fund (payment 1) Admin: releases 50 FOBXX → Fund (payment 2) ```
*** **FUNCTIONS** ``` PUBLIC AND EXTERNAL FUNCTIONS initiateSwap(salt, participant, assetA, assetB, amtA, amtB, hashlock, timelock): Creates P2P atomic swap participateSwap(id): Participant deposits their asset claimSwap(id, preimage): Reveals secret to claim both assets atomically refundSwap(id): Returns assets after timelock expiry initiateEscrowMint(salt, user, escrowToken, mintToken, amount, timelock, recipient): Admin creates escrow with instant mint setEscrowRecipient(id, recipient): Admin updates release target depositEscrow(id): User deposits collateral, gets instant tokens releaseEscrow(id, amount): Admin releases collateral to recipient progressively refundEscrow(id): Admin refunds escrow to user batchReleaseEscrow(ids, amounts): Admin releases multiple escrows efficiently getSwap(id): Returns complete swap details getBasic(id): Returns core swap info getStatus(id): Returns swap status and progress isIdUsed(id): Checks ID collision previewId(salt): Previews ID before creation PRIVATE AND INTERNAL FUNCTIONS generateId(salt): Creates unique ID from salt or auto-generates _releaseEscrowInternal(id, amount): Internal batch release helper EVENTS SwapInitiated(swapId, swapType, initiator, participant): Swap creation SwapCompleted(swapId): Successful completion SwapRefunded(swapId): Refund execution TokensLocked(swapId, token, user, amount): Asset lockup TokensMinted(swapId, token, to, amount): Token creation TokensReleased(swapId, token, to, amount): Asset release EscrowProgress(swapId, released, remaining): Progressive release tracking RecipientChanged(swapId, oldRecipient, newRecipient): Recipient updates ROLES DEFAULT_ADMIN_ROLE: Grant/revoke roles ADMIN_ROLE: Execute escrow operations, manage flows ``` **CONTRACT ABI** ``` 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XFTAssetSwaps_V5.SwapType","name":"swapType","type":"uint8"},{"indexed":true,"internalType":"address","name":"initiator","type":"address"},{"indexed":true,"internalType":"address","name":"participant","type":"address"}],"name":"SwapInitiated","type":"event"},{"anonymous":false,"inputs":[{"indexed":true,"internalType":"bytes32","name":"swapId","type":"bytes32"}],"name":"SwapRefunded","type":"event"},{"anonymous":false,"inputs":[{"indexed":true,"internalType":"bytes32","name":"swapId","type":"bytes32"},{"indexed":true,"internalType":"address","name":"token","type":"address"},{"indexed":true,"internalType":"address","name":"user","type":"address"},{"indexed":false,"internalType":"uint256","name":"amount","type":"uint256"}],"name":"TokensLocked","type":"event"},{"anonymous":false,"inputs":[{"indexed":true,"internalType":"bytes32","name":"swapId","type":"bytes32"},{"indexed":true,"internalType":"address","name":"token","type":"address"},{"indexed":true,"internalType":"address","name":"to","type":"address"},{"indexed":false,"internalType":"uint256","name":"amount","type":"uint256"}],"name":"TokensMinted","type":"event"},{"anonymous":false,"inputs":[{"indexed":true,"internalType":"bytes32","name":"swapId","type":"bytes32"},{"indexed":true,"internalType":"address","name":"token","type":"address"},{"indexed":true,"internalType":"address","name":"to","type":"address"},{"indexed":false,"internalType":"uint256","name":"amount","type":"uint256"}],"name":"TokensReleased","type":"event"},{"inputs":[],"name":"ADMIN_ROLE","outputs":[{"internalType":"bytes32","name":"","type":"bytes32"}],"stateMutability":"view","type":"function"},{"inputs":[],"name":"DEFAULT_ADMIN_ROLE","outputs":[{"internalType":"bytes32","name":"","type":"bytes32"}],"stateMutability":"view","type":"function"},{"inputs":[{"internalType":"bytes32[]","name":"ids","type":"bytes32[]"},{"internalType":"uint128[]","name":"amounts","type":"uint128[]"}],"name":"batchReleaseEscrow","outputs":[],"stateMutability":"nonpayable","type":"function"},{"inputs":[{"internalType":"bytes32","name":"id","type":"bytes32"},{"internalType":"bytes32","name":"preimage","type":"bytes32"}],"name":"claimSwap","outputs":[],"stateMutability":"nonpayable","type":"function"},{"inputs":[{"internalType":"bytes32","name":"id","type":"bytes32"}],"name":"depositEscrow","outputs":[],"stateMutability":"nonpayable","type":"function"},{"inputs":[{"internalType":"bytes32","name":"id","type":"bytes32"}],"name":"getBasic","outputs":[{"internalType":"enum XFTAssetSwaps_V5.SwapType","name":"swapType","type":"uint8"},{"internalType":"address","name":"initiator","type":"address"},{"internalType":"address","name":"participant","type":"address"},{"internalType":"address","name":"initiatorAsset","type":"address"},{"internalType":"address","name":"participantAsset","type":"address"},{"internalType":"uint256","name":"initiatorAmount","type":"uint256"},{"internalType":"uint256","name":"participantAmount","type":"uint256"}],"stateMutability":"view","type":"function"},{"inputs":[{"internalType":"bytes32","name":"role","type":"bytes32"}],"name":"getRoleAdmin","outputs":[{"internalType":"bytes32","name":"","type":"bytes32"}],"stateMutability":"view","type":"function"},{"inputs":[{"internalType":"bytes32","name":"id","type":"bytes32"}],"name":"getStatus","outputs":[{"internalType":"bytes32","name":"hashlock","type":"bytes32"},{"internalType":"uint256","name":"timelock","type":"uint256"},{"internalType":"bool","name":"initiatorDeposited","type":"bool"},{"internalType":"bool","name":"participantDeposited","type":"bool"},{"internalType":"bool","name":"completed","type":"bool"},{"internalType":"bool","name":"refunded","type":"bool"},{"internalType":"uint256","name":"releasedAmount","type":"uint256"},{"internalType":"address","name":"recipient","type":"address"}],"stateMutability":"view","type":"function"},{"inputs":[{"internalType":"bytes32","name":"id","type":"bytes32"}],"name":"getSwap","outputs":[{"internalType":"enum XFTAssetSwaps_V5.SwapType","name":"swapType","type":"uint8"},{"internalType":"address","name":"initiator","type":"address"},{"internalType":"address","name":"participant","type":"address"},{"internalType":"address","name":"initiatorAsset","type":"address"},{"internalType":"address","name":"participantAsset","type":"address"},{"internalType":"uint256","name":"initiatorAmount","type":"uint256"},{"internalType":"uint256","name":"participantAmount","type":"uint256"},{"internalType":"bytes32","name":"hashlock","type":"bytes32"},{"internalType":"uint256","name":"timelock","type":"uint256"},{"internalType":"bool","name":"initiatorDeposited","type":"bool"},{"internalType":"bool","name":"participantDeposited","type":"bool"},{"internalType":"bool","name":"completed","type":"bool"},{"internalType":"bool","name":"refunded","type":"bool"},{"internalType":"uint256","name":"releasedAmount","type":"uint256"},{"internalType":"address","name":"recipient","type":"address"}],"stateMutability":"view","type":"function"},{"inputs":[{"internalType":"bytes32","name":"role","type":"bytes32"},{"internalType":"address","name":"account","type":"address"}],"name":"grantRole","outputs":[],"stateMutability":"nonpayable","type":"function"},{"inputs":[{"internalType":"bytes32","name":"role","type":"bytes32"},{"internalType":"address","name":"account","type":"address"}],"name":"hasRole","outputs":[{"internalType":"bool","name":"","type":"bool"}],"stateMutability":"view","type":"function"},{"inputs":[{"internalType":"bytes32","name":"salt","type":"bytes32"},{"internalType":"address","name":"user","type":"address"},{"internalType":"address","name":"escrowToken","type":"address"},{"internalType":"address","name":"mintToken","type":"address"},{"internalType":"uint128","name":"amount","type":"uint128"},{"internalType":"uint64","name":"timelock","type":"uint64"},{"internalType":"address","name":"recipient","type":"address"}],"name":"initiateEscrowMint","outputs":[{"internalType":"bytes32","name":"id","type":"bytes32"}],"stateMutability":"nonpayable","type":"function"},{"inputs":[{"internalType":"bytes32","name":"salt","type":"bytes32"},{"internalType":"address","name":"participant","type":"address"},{"internalType":"address","name":"assetA","type":"address"},{"internalType":"address","name":"assetB","type":"address"},{"internalType":"uint128","name":"amtA","type":"uint128"},{"internalType":"uint128","name":"amtB","type":"uint128"},{"internalType":"bytes32","name":"hashlock","type":"bytes32"},{"internalType":"uint64","name":"timelock","type":"uint64"}],"name":"initiateSwap","outputs":[{"internalType":"bytes32","name":"id","type":"bytes32"}],"stateMutability":"nonpayable","type":"function"},{"inputs":[{"internalType":"bytes32","name":"id","type":"bytes32"}],"name":"isIdUsed","outputs":[{"internalType":"bool","name":"","type":"bool"}],"stateMutability":"view","type":"function"},{"inputs":[{"internalType":"bytes32","name":"id","type":"bytes32"}],"name":"participateSwap","outputs":[],"stateMutability":"nonpayable","type":"function"},{"inputs":[{"internalType":"bytes32","name":"salt","type":"bytes32"}],"name":"previewId","outputs":[{"internalType":"bytes32","name":"","type":"bytes32"}],"stateMutability":"view","type":"function"},{"inputs":[{"internalType":"bytes32","name":"id","type":"bytes32"}],"name":"refundEscrow","outputs":[],"stateMutability":"nonpayable","type":"function"},{"inputs":[{"internalType":"bytes32","name":"id","type":"bytes32"}],"name":"refundSwap","outputs":[],"stateMutability":"nonpayable","type":"function"},{"inputs":[{"internalType":"bytes32","name":"id","type":"bytes32"},{"internalType":"uint128","name":"amount","type":"uint128"}],"name":"releaseEscrow","outputs":[],"stateMutability":"nonpayable","type":"function"},{"inputs":[{"internalType":"bytes32","name":"role","type":"bytes32"},{"internalType":"address","name":"account","type":"address"}],"name":"renounceRole","outputs":[],"stateMutability":"nonpayable","type":"function"},{"inputs":[{"internalType":"bytes32","name":"role","type":"bytes32"},{"internalType":"address","name":"account","type":"address"}],"name":"revokeRole","outputs":[],"stateMutability":"nonpayable","type":"function"},{"inputs":[{"internalType":"bytes32","name":"id","type":"bytes32"},{"internalType":"address","name":"recipient","type":"address"}],"name":"setEscrowRecipient","outputs":[],"stateMutability":"nonpayable","type":"function"},{"inputs":[{"internalType":"bytes4","name":"interfaceId","type":"bytes4"}],"name":"supportsInterface","outputs":[{"internalType":"bool","name":"","type":"bool"}],"stateMutability":"view","type":"function"},{"inputs":[{"internalType":"bytes32","name":"","type":"bytes32"}],"name":"swaps","outputs":[{"internalType":"enum XFTAssetSwaps_V5.SwapType","name":"swapType","type":"uint8"},{"internalType":"address","name":"initiator","type":"address"},{"internalType":"address","name":"participant","type":"address"},{"internalType":"address","name":"initiatorAsset","type":"address"},{"internalType":"address","name":"participantAsset","type":"address"},{"internalType":"uint128","name":"initiatorAmount","type":"uint128"},{"internalType":"uint128","name":"participantAmount","type":"uint128"},{"internalType":"bytes32","name":"hashlock","type":"bytes32"},{"internalType":"uint64","name":"timelock","type":"uint64"},{"internalType":"uint128","name":"releasedAmount","type":"uint128"},{"internalType":"address","name":"recipient","type":"address"},{"internalType":"bool","name":"initiatorDeposited","type":"bool"},{"internalType":"bool","name":"participantDeposited","type":"bool"},{"internalType":"bool","name":"completed","type":"bool"},{"internalType":"bool","name":"refunded","type":"bool"}],"stateMutability":"view","type":"function"},{"inputs":[{"internalType":"bytes32","name":"","type":"bytes32"}],"name":"usedIds","outputs":[{"internalType":"bool","name":"","type":"bool"}],"stateMutability":"view","type":"function"}] ```
EXAMPLE STANDARD TRANSACTIONS [Standard Example](https://sepolia.arbiscan.io/tx/0x04612ec0742264f05d3c3af6195db02ee7af9b54410721f8412a89e07b345cf8) [Full lifecycle video demo](https://youtu.be/t-8Fkgigja4) EXAMPLE ESCROW TRANSACTIONS [Instant mint 100 USDXT to investor](https://sepolia.arbiscan.io/tx/0x0622409dbfa4ea80c0fbd5defac648ef21fe2351a5e5926b38216a89cbac74e0) [Release 30 OCTIX](https://sepolia.arbiscan.io/tx/0x51f94c65ae39c00138fcca5490e0c629c1bc3e790d8fb3cc3ac24417b5a8b0c8) [Release 55 OCTIX](https://sepolia.arbiscan.io/tx/0x2fcdbe758420cddb02793723f1c0a5bd6e150b5369a6db6078fadf4dcd974dd4) [Release 15 OCTIX](https://sepolia.arbiscan.io/tx/0x2fcdbe758420cddb02793723f1c0a5bd6e150b5369a6db6078fadf4dcd974dd4) [Full lifecycle video demo](https://youtu.be/X62sJKmFVBM)