Understanding the term
A mainnet swap usually takes place when a cryptocurrency project migrates from a third-party platform to its own native blockchain network. During this phase, cryptocurrency tokens are replaced by newly issued coins as all the blockchain activity is transferred to a new chain. The process may also be referred to as a token migration event.
It should be noted; however, that token migration isn’t only associated with the launch of a new project. It may also occur when a cryptocurrency project decides to move from one protocol to another in an attempt to avoid problems such as scalability. Mainnet swaps can have their own terms of execution. While some projects assign migration periods in which users have to exchange their old tokens for new ones, other projects take care of this process automatically.
A Mainnet swap typically occurs when a cryptocurrency project moves from one blockchain to another, or it migrates its tokens from a third-party blockchain to its native chain. It is not exclusively associated with new blockchain launches, as a project may decide to move from one blockchain to another to solve issues such as scalability.