Guide · Fractal Bitcoin DEX

Swap FB and BRC-20 tokens on Fractal Bitcoin

A practical guide to the FENNEC Terminal: which markets it trades, how a swap is routed through InSwap pools, what you need before your first trade, and which fees you will see before you sign.

What the FENNEC Terminal is

The FENNEC Terminal is a trading interface for Fractal Bitcoin. It does not run its own order book or its own liquidity pools. Every swap executes against InSwap, the BRC-20 swap module operated by UniSat on Fractal. FENNEC reads the pool data, requests a live quote, and asks your wallet to sign; the trade itself settles inside InSwap.

You can trade FB (the native coin of Fractal Bitcoin), bridged BTC, the FENNEC token, tokens that graduated from the FENNEC Launchpad, and any other BRC-20 token that has an InSwap pool. The complete market list with TVL, 24-hour volume, holders and last price is in the pair directory — more than 1,800 InSwap pairs at the time of writing.

How a swap is routed

FB is the hub of the Fractal DEX. When one side of your trade is FB — for example FB to FENNEC, or ORDI to FB — the Terminal quotes the direct InSwap pool for that pair. When neither side is FB, the Terminal routes the trade in two hops through FB (token A → FB → token B) using InSwap's multi-swap, and shows the route, such as ORDI → FB → SATS, before you sign. Each hop is a separately signed leg, and the legs are submitted together.

Expected output and minimum received. The minimum is the expected output reduced by your slippage tolerance.
Slippage. The default tolerance is 0.5%. You can pick another preset or enter a custom value; unusually high values trigger a warning.
Price impact. Shown for routed trades and highlighted in yellow above 2% and in red above 5%.
No quote, no trade. If a live quote cannot be fetched, the Terminal refuses to create the swap instead of guessing a price.

Before your first swap: fund your InSwap balance

InSwap trades from a balance held inside the InSwap module, which is separate from the coins in your wallet. The wallet menu in the site header shows both side by side: FB · Wallet and FB · InSwap. Move funds in with the Terminal's Deposit tab:

FB — sent from your Fractal address into InSwap. The minimum deposit is 1 FB.
BRC-20 tokens — the Terminal deposits a matching transfer inscription you already hold, or creates a new transfer inscription and deposits it.
BTC — bridged from Bitcoin mainnet. See how to bridge BTC to Fractal.

Every deposit is a transaction you sign in your wallet; you choose the network fee rate (Medium, Fast or a custom sat/vB value).

Step by step: swap FB for a BRC-20 token

Install the UniSat Wallet browser extension — it is the wallet the Terminal connects to — and keep some FB on your Fractal address for network fees.
Open the Terminal, click Connect and approve the connection in UniSat.
On the Deposit tab, deposit FB and wait until it appears under FB · InSwap.
On the Swap tab, choose the token you want and enter the amount of FB to spend.
Check the quote: rate, minimum received, route, price impact and fees.
Click Swap and sign the request in UniSat. Your balances and the Recent Swaps list update once InSwap accepts the trade.
To move tokens back to your wallet, use the Withdraw tab (minimum 1 FB for FB and 0.00004 BTC for BTC).

Fees you will see

The quote comes straight from InSwap. Before you sign, the Terminal shows the pool's LP fee and the network fee, which is paid in FB. Deposits and withdrawals are on-chain transactions with their own network fee, set by the fee-rate buttons. FENNEC's 2% trading fee — and the Fennec ID discounts on it — apply to bonding-curve trades on the Launchpad, not to InSwap swaps; see Fees & Tokenomics.

Keep your swaps safe

Check the domain: the Terminal lives at fennecbtc.xyz/terminal.
Read the UniSat signing window before you approve; FENNEC never asks for your seed phrase.
Thin pools move a lot on small orders — compare the price impact with the TVL shown in the pair directory.

Ready to trade? Open the Terminal, connect UniSat and make your first deposit.

Open the FENNEC Terminal →