How to accept ERC20 token inside my own smart contract?

Question

What I basically have is my own ERC20 smart contract.

I want the following functionality in my smart contract:

A user transfers X amount of an ERC20 token (I can choose/change this token at any time). I process the payment. Based on the amount of the tokens sent to my contract, I send the user Y amount of my own ERC20 token.

Can I code the above functionality as a function in Solidity?

Yes, it could be done, start by accepting ERC20 as payments: https://ethereum.stackexchange.com/questions/23567/accepting-an-erc20-token-as-payment. — Ismael, Feb 21 '22 at 21:48

yahoo5000 · Answer 1 · 2022-03-01T18:21:58.670

0

So to accept other token is actually pretty simple i will write a sample here so you can look into and do it your self .

// SPDX-License-Identifier: MIT
pragma solidity ^0.8.0;
import "./Token1.sol";   ///TestC token contract
contract FFA {
TestC _token = TestC(0x93e8C4b313966461239605A771bc10cfb79748F3);   // Create pointer to your smart contract



function transfer(address _to,uint256 _amount)public {  // create function that you want to use to fund your contract or transfer that token
    require(_token.transferFrom(msg.sender,_to,_amount)); // call function of your token contract to do the transfer
}


}

so your contract can accept any token this way

edited Mar 01 '22 at 18:21

answered Feb 20 '22 at 16:54

yahoo5000

129
7

This function is accepting ETH as payment to transfer their own ERC20 token. What I'd like to do is accept another ERC20 token. When transferred to my contract, I'd like to transfer them my own ERC20 token – duskdusk13 Feb 20 '22 at 16:59
i assume you would just use token contract address instead of eth address – yahoo5000 Feb 20 '22 at 17:02
But how would I check if the user transferred me that certain token within my smart contract? – duskdusk13 Feb 20 '22 at 17:04
you can use uniswap or something and create liquidity pool in your smart contract and exchange them this way – yahoo5000 Feb 20 '22 at 17:10
would you possibly have a tutorial on how to do that? – duskdusk13 Feb 20 '22 at 17:18
check this https://ethereum.stackexchange.com/questions/102228/how-to-create-a-liquidity-pool-by-code – yahoo5000 Feb 20 '22 at 17:26
i have updated this answer hope it helps – yahoo5000 Mar 01 '22 at 18:22

How to accept ERC20 token inside my own smart contract?

1 Answers1