wallet-cli exchange

TRON's protocol-level Bancor exchange.

Pairs trade TRX and TRC10 assets — never TRC20 — and settle instantly against a bonding curve. Either side may be TRX or a TRC10 id, so a TRC10-against-TRC10 pair is legal too; the only rule is that the two sides differ: no order book, no counterparty, no matching. Four properties differ from the AMMs most people are used to, and all four matter before you touch this group:

• A pair is private to its creator. Only the account that created a pair can inject or withdraw its liquidity, and that binding cannot be transferred. There are no LP tokens and no outside liquidity providers.
• Anyone can trade, though — trading is open even though liquidity is not.
• The protocol charges no fee. trade, inject, and withdraw cost bandwidth only; the one charge is create, which burns getExchangeCreateFee.
• Human amounts are scaled by node-supplied decimals. Every --amount / --amounts / --min-received is converted to base units using the TRC10 precision the node reports, so that value decides the quantity you sign. It is checked against the protocol range 0..6 and against the token id requested, but a wrong value inside that range cannot be caught locally. Use the --raw-* variants when the exact base-unit quantity matters — they are used verbatim.
• TRX's token id on chain is the underscore _. Write TRX (any case) or an asset id; _ is accepted too. json shows what actually went on chain, so TRX appears there as "_".

Pricing follows the curve, not the ratio. The ratio of the two reserves is a marginal quote — true only for a trade of size zero. A real trade moves along the curve, and the larger it is relative to the reserves, the worse the price it gets. That gap is the slippage. exchange trade accepts one optional floor (--min-received, --raw-min-received, or --slippage); omitting all three is allowed but emits a warning and submits the protocol minimum expected = 1, which provides no practical slippage protection. No command here prints a "price". To price a specific amount, run exchange trade --dry-run against the current reserves. Reserves are also capped by the chain parameter getExchangeBalanceLimit.

Tokens are named by id only in this group — TRX or a numeric asset id, never a token name. Pairs are written with a colon (--pair TRX:1000123, --amounts 10000:500000), and TRC10 names may legally contain colons, so allowing names would make --pair ambiguous. Resolve a name to its id with asset info <name>.

TRON only. The Bancor exchange is built into the TRON protocol; every subcommand here fails with family_mismatch on an EVM network.

Synopsis

wallet-cli exchange COMMAND

Subcommands

Command	Page	Description
exchange create	create.md	Create a pair and seed both sides
exchange inject	inject.md	Add liquidity in proportion to reserves
exchange withdraw	withdraw.md	Take liquidity out in proportion to reserves
exchange trade	trade.md	Swap one side for the other
exchange show	show.md	One pair's creator, creation time, and reserves
exchange list	list.md	List exchange pairs, one page at a time

See also

asset · tx send · chain params

---