SWAPPITBorrowing against CS2 skins
Every other route out of an inventory ends the same way: the item is gone. A marketplace listing costs 2–8% and eight days of waiting. An instant buyback costs 5–35% and pays immediately. This desk pays 100% of appraised value in SOL, charges 1.9% once, and gives the items back. This document is the full specification — rates, appraisal method, custody, and what happens when a loan is not repaid.
01 Overview
SWAPPIT is a lending desk for CS2 inventory. You deposit skins into the vault, the desk appraises them, and you draw SOL against their value. The skins are collateral — not sold, not listed, not traded on while the loan is open. Repay principal plus a flat fee and the vault returns the exact items you deposited.
The product is one sentence: full value now, the item back later, at the lowest fee on the board.
02 Rate card
One product, one price, no tiers. The rate does not change with loan size, duration, or how the market moved while you were away.
The rate card above is the Solana rail — the one the desk is built around. Other payout rails carry their own settlement cost and are priced on the tile: 2.1% for USDC on Solana, 2.4% for Litecoin and Ethereum, 2.6% for Bitcoin, 2.9% for USDT on ERC-20. 1.9% is set deliberately below the cheapest comparable route in the market — below the 2% seller fee on the lowest-fee P2P marketplaces, and below the 2.5% promotional commission of the only other skin-backed lender operating at scale. It is not an introductory rate and it does not expire.
Three places, all disclosed: the 1.9% on every completed reclaim; the liquidity discount inside appraisal on genuinely slow-moving items (0–8%, shown as a line item on the quote, never applied to liquid inventory); and the spread captured when an uncured position is liquidated at market. There is no fourth revenue line, no order flow sold, no items lent out behind your back.
03 Market comparison
Published rates for every realistic way out of an inventory, checked 25 August 2026. Costs are what the seller gives up; "keeps item" is the column nobody else can tick.
| Route | Cost | On $1,000 | Speed | Keeps item |
|---|---|---|---|---|
| SWAPPIT loan | 1.9% | $1,000 now, $1,019 to reclaim | Minutes | Yes |
| Skin-backed loan (SkinLoan) | 2.5% promo / 4% | Capped at $5,000, 1–21 days | Minutes | Yes, if repaid in time |
| P2P marketplace (CSFloat, DMarket, Waxpeer) | 2% | $980 | Days + 8-day hold | No |
| P2P marketplace (Market.CSGO, ShadowPay) | 5% | $950 | Days + 8-day hold | No |
| Skinport listing | 8% / 6% above €1,000 | $920 – $940 | Days + hold | No |
| Tradeit.gg | 5 – 8% | $920 – $950 | Minutes | No |
| Instant buyback, best desks | ~5 – 10% | $900 – $950 | Minutes | No |
| Instant buyback, worst tier | 25 – 60% | $400 – $750 | Minutes | No |
Sources: published seller-fee schedules and measured instant-sell spreads from Steam Dashboard's market comparison, Skinport's fee page and SkinLoan's own terms. Rates move; if a line here is stale, it gets corrected or pulled rather than quietly left up.
A patient seller on a 2% marketplace nets more cash today than a borrower here pays in fees — $980 against $1,000 minus $19. The difference is that they no longer own a knife and you do. This desk competes on total outcome, not on beating a listing fee.
Where we deliberately outbid
| Dimension | Best elsewhere | Here |
|---|---|---|
| Fee on a skin-backed loan | 2.5% promotional, 4% standard | 1.9% permanent |
| Share of value advanced | Undisclosed, typically 50–70% at pawn desks | 100% of appraisal |
| Maximum loan | $5,000 | $25,000 |
| Term | 21 days, then forced sale | Open-ended |
| Minimum to borrow | Per-item floors, usually $50+ | $25 per ticket, no item floor |
| Payout asset | USDT by default | SOL, to your wallet |
| Late fee / extension fee | Charged per extension | None — no clock to extend |
04 Mechanics
A loan is a reversible swap in four steps. Nothing in the flow requires you to give up an item permanently unless you choose not to repay.
- DepositSend the selected skins to the vault through a normal Steam trade. They enter escrow on arrival and are locked out of listing, trading and unboxing for the life of the loan.
- AppraiseEach item is priced independently against the best live bid across the major markets and a 30-day median, then adjusted for float, wear tier, pattern index and StatTrak. The quote is shown per item, line by line, before you accept.
- BorrowDraw up to 100% of appraised value in SOL to your own wallet. No origination fee, no minimum draw beyond the $10 item floor.
- ReclaimRepay principal plus a flat 1.9% at any time. The vault releases the same items in the same trade window. There is no interest clock, so waiting a month and waiting a day cost the same.
05 Appraisal
Appraisal decides what "100%" is worth, so it is the number that actually competes. The basis is the higher of the best live bid across the major markets and the 30-day median of completed sales — not our own quote, and not a discounted internal book.
| Input | Source | Effect |
|---|---|---|
| Base value | Higher of best live bid or 30-day median of completed sales | 100% |
| Float adjustment | Exact float within wear band | ±12% |
| Pattern index | Named patterns only (fades, blue gems, dopplers) | ±40% |
| StatTrak / souvenir | Separate median, never a flat multiplier | ±25% |
| Liquidity discount | Median days-to-sell at median price | −0…8% |
A knife that clears in a day and a case-hardened that sits for three weeks are not the same collateral at the same price. The discount is the only place the desk prices its own risk, it is capped at 8%, it never applies to items with a same-day bid, and it appears as a line on the quote rather than hidden inside the base number.
06 Loan terms
| Term | Value | Note |
|---|---|---|
| Loan-to-value | 100% | Of appraised value, per item |
| Origination fee | 0% | Nothing is deducted from the draw |
| Reclaim fee — Solana | 1.9% flat | Charged once, never accrues |
| Reclaim fee — other rails | 2.1 – 3.1% | USDC on Solana 2.1%, LTC and ETH 2.4%, BTC 2.6%, USDT ERC-20 2.9% |
| Interest rate | None | No APR, no clock, no compounding |
| Term length | Open | Until repayment or a liquidation trigger |
| Extension fee | None | There is no term to extend |
| Partial repayment | Per item | Releases that item, leaves the rest open |
| Minimum ticket | $25 | Per ticket, not per item — small items bundle up to reach it |
| Maximum per wallet | $25,000 | Raised case by case after the first cycle |
| Payout asset | SOL | Sent to a wallet you control |
Borrowers against game inventory are solving a two-week liquidity problem, not financing a house. A flat fee means the cost is known the moment you sign and cannot grow while you are away from the desk. It also removes any incentive for us to want you to be slow.
07 Custody
Collateral sits in a dedicated vault account. Each loan is bound to the specific items that back it, and those items are never pooled with another borrower's position.
- Items are held, not tradedVault inventory is not listed, not floated on a marketplace and not lent out a second time. The only two exits are reclaim and liquidation.
- Positions are isolated per itemFive skins in one deposit is five collateral lines. A problem on one line cannot touch the other four.
- Trade holds are respectedSteam's own trade protection window applies in both directions. A deposit under a hold is appraised and quoted, and the draw releases when the hold clears.
- Return is item-exactReclaim returns the identical asset IDs you deposited — same float, same pattern, same sticker positions. Not an equivalent item.
08 Liquidation
A loan only ends badly in two situations, and both are defined in advance rather than judged after the fact.
- Trigger: priceIf the appraised value of a backing item falls 25% or more below the principal drawn against it, that line enters margin call.
- Grace: 72 hoursThe borrower can top up in SOL or add collateral. Curing the line closes the call — nothing is sold.
- Scope: that line onlyAn uncured line liquidates the single item backing it. Every other item in the same deposit stays in the vault under its own terms.
- WaterfallProceeds cover principal first, then the 1.9% fee. Anything left over is returned to the borrower's wallet — the desk does not keep the upside on a liquidated item.
- No hidden clockBecause there is no interest, a position cannot drift into liquidation just by being open. Only a price move gets it there.
Walking away is a real option and it is priced as one. If you never repay, you have effectively sold that skin for 100% of its appraisal at the moment you borrowed — better than any instant desk pays, and without the eight-day wait a marketplace adds. That is the floor under the product, not a failure state we hide.
09 Worked example
Three deposits at different sizes, priced with the same rules. "Best sell" is the strongest realistic alternative — a 2% marketplace listing, eight-day hold included.
| Inventory | Best sell nets | Loan pays | Reclaim costs | Item kept |
|---|---|---|---|---|
| $250 — two covert rifles | $245 | $250 | $254.75 | Both |
| $1,000 — knife + gloves | $980 | $1,000 | $1,019 | Both |
| $7,500 — full inventory | $7,350 | $7,500 | $7,642.50 | All |
At $1,000 the comparison is $19 of cost to keep the knife against $20 of fees to lose it — plus eight days of waiting on the side that loses it.
10 Eligible items
| Accepted | Not accepted |
|---|---|
| Knives and gloves | Trade-locked items until the hold clears |
| Any tradable item with a live market | Tickets under $25 in total |
| Named patterns and high-tier fades | Cases, capsules and keys |
| StatTrak variants | Graffiti, music kits, name tags |
| Souvenir items with a liquid median | Anything with fewer than 10 completed sales in 30 days |
11 Risks
Stated plainly, because a lending desk that will not name its own failure modes is not one worth using.
- Skin prices moveCollateral can fall far enough to trigger a call within days of the draw. The 25% buffer is a buffer, not a guarantee.
- Steam is a dependencyTrade holds, account restrictions and API downtime sit outside the desk's control and can delay both deposits and returns.
- SOL is volatileThe loan is denominated in dollars but paid in SOL. Holding the SOL is a second position and it is yours, not ours.
- Appraisals are estimatesA live bid is not a guaranteed clearing price. Thin markets can move against an item faster than a 30-day window shows.
- Counterparty risk is realYour items sit in an account you do not control while a loan is open. That is the trade you are making and it should be sized accordingly.
12 Status
What exists today versus what is still being wired. Nothing is marked live until it has run end to end.
- LiveRate card, appraisal rules and the liquidation rule stack are specified and final.
- LiveEstimator: select an inventory, see sell-versus-borrow priced line by line in real time.
- BuildingVault escrow flow and the Steam trade pipeline for deposits and returns.
- BuildingLive bid feed across the major markets, feeding appraisal directly.
- BuildingPer-item collateral ledger with public loan IDs.
- PendingToken contract address. Nothing about the token is announced until the address is public.
- PendingThird-party review of the vault account and its holdings.
13 FAQ
Is 1.9% really the whole cost?
On the Solana rail, yes: no origination fee, no interest, no extension fee, no withdrawal fee. A $1,000 advance is repaid with $1,019 whenever you choose. Other rails cost more because settling on them costs us more — 2.1% for USDC on Solana, 2.4% for Litecoin and Ethereum, 2.6% for Bitcoin, 2.9% for USDT on ERC-20. The rail is your choice and the price is on the tile before you pick it.
Why is it cheaper than a marketplace listing?
Because it is a different transaction. A marketplace takes its cut of a sale and you never see the item again. The fee here buys liquidity against an item you keep, so the comparison that matters is the total outcome, not the percentage.
Do I lose my skin if I never repay?
That specific item is liquidated after the call goes uncured for 72 hours. You keep the SOL you drew, which was 100% of the appraisal. Every other item in your deposit is unaffected.
Can I repay part of the loan?
Yes, per line. Repaying one item's principal plus its 1.9% releases that item and leaves the rest of the position open.
Why would you lend 100% of value?
Because the appraisal is a price the desk can actually clear, the fee is charged on the way out, and the liquidity discount covers the slow-moving tail. Lending less would be easier and would also make the product pointless.
Who holds the skins?
A dedicated vault account, item-locked for the duration of the loan. They are not listed, traded or re-lent.
What happens if Steam locks my account mid-loan?
The position stays open and no clock runs against you. The return trade executes when your account can receive it again.
This document describes the protocol as designed. Competitor rates are published figures checked on 25 August 2026 and are cited for comparison only; they change without notice. Examples are illustrative and use the stated rules — live quotes are always the ones shown at deposit. SWAPPIT is not affiliated with, endorsed by or connected to Valve Corporation, Steam, or any platform named on this page. Counter-Strike and CS2 are trademarks of Valve Corporation. Borrowing against volatile collateral can result in the loss of that collateral.