Swap
It looks like a simple token exchange, but in reality, it is a trade between yield-bearing assets. Birdieswap is not an independent DEX. However, the Router simultaneously performs 'Asset Transformation' and 'Exchange' so that the user does not need to hold yield-bearing assets (Proof Tokens) in advance.
Start (User Action): The user selects the token to send (Token0) and the token to receive (Token1), enters the amount, and clicks 'Swap' just like a regular DEX.
Input Asset Deposit: The Router accepts the user's Token0, immediately deposits it into the Underlying Protocol, and secures the receipt token (Receipt0).
Internal Swap: It exchanges the secured Receipt0 (bToken0) for Receipt1 (bToken1) within the liquidity pool.
Output Asset Redemption: The exchanged Receipt1 is redeemed for the Native Token1 that the user wants via the Underlying Protocol again.
Transfer: Finally, Token1 arrives in the user's wallet.
The user feels like they "gave Token0 and received Token1," but inside the Router, the complex process of "Deposit → Receipt Issuance → Receipt Exchange → Redemption" has been perfectly executed.
In summary, the Birdieswap Router is the result of designing extreme efficiency for user convenience. Instead of banking ourselves or setting up an exchange, we have built software that intricately connects the most powerful protocols on the blockchain. Thanks to this, you simply enjoy "Seamlessly Designed Simplicity" without needing to understand financial engineering.
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