Swype.fun | FAQs
Swype.fun is a DeFi-native credit card application, powered by Brahma Cards, that lets you access credit against your crypto in real-time when you spend. When you swipe at a merchant, Brahma Infrastructure automatically connects your card to lending protocols like AAVE or Euler, borrows USDC against your crypto, and settles payments just in-time.
Getting Started
Note: In V1.0 of the release, users can access Swype by holding a cumulative position of over $1000 on AAVE and/or Euler. Alternatively, gain entry with limited-time access codes, DM'd at random by dropping a comment here.
How do I connect my wallet to Swype?
Link your existing wallet to Swype through the interface. You maintain full control of your assets at all times. Swype never takes custody of your funds. Your card is directly connected to your EOA (wallet address) - if you lose access to your wallet, you lose access to your card. We plan to implement embedded wallet and social integration in future versions, but V1.0 of Swype is based on your EOA.
What is approval and why do I need to set it?
Approval grants Swype permission to borrow on your behalf through lending protocols. You control:
Maximum borrow amount
Which assets can serve as collateral
Spending limits per transaction or time period
Do I need to complete KYC?
Yes. You'll complete a one-time KYC process through SumSub to get your virtual card issued. We don't store your details - they're securely stored with SumSub for regulatory compliance. Please note in V1.0 your KYC is tied to your initially connected EOA. We plan to extend support for more accounts under your Swype profile soon.
What happens after I approve my card policies?
Only after you review and approve the card policies will your virtual card be generated. The card is then linked to a dedicated subaccount within your Brahma account.
How Borrowing Works
Which lending protocols does Swype support?
Currently Swype supports:
AAVE: Direct borrowing against your deposited collateral
Euler: Creates a subaccount for isolated risk management
Why do my assets move when I approve Euler?
When you approve an Euler position, a sub-account on Euler is created that you own. Swype only gets delegation rights to borrow on your behalf. This is documented in Euler's official documentation.
What happens when my credit limit is exhausted on AAVE?
Once the credit amount is exhausted, you need to reapprove as the system won't extend credit beyond the approval limit. This is a safety feature to prevent unauthorized borrowing.
How fast is the borrowing process?
When you swipe, Brahma Infrastructure instantly connects to the lending protocol, borrows USDC, and pays the merchant in real-time. The entire process happens within seconds.
Security and Policies
How are my funds protected?
We never deposit your funds. The Brahma Infrastructure only takes approval on underlying DeFi protocols and has no withdrawal rights on your collateral. You maintain full custody of your assets at all times.
Can I set spending restrictions?
Currently, you can set daily spending limits and freeze your card. More advanced policy controls will be available in future updates.
What if I want to stop all card activity?
You can freeze your card or remove the approval entirely through the Swype interface.
Card Management
How do I check my available spending amount?
Use the Swype interface to view your available transaction amount based on your underlying collateral and transaction history.
Can I have multiple cards?
Currently, you can only have one card per account.
Can I change my underlying protocol?
You will be able to change the underlying protocol and modify approvals in the coming weeks.
Technical Details
What happens during a transaction?
You swipe your card at a merchant
Brahma's policy engine checks the transaction against your rules
If approved, the system borrows USDC from your chosen protocol
The merchant receives payment instantly
Your collateral secures the borrowed amount
How are policies enforced?
The system enforces your daily spending limits and card status (active/frozen) in real-time at the point of sale. More advanced policy controls are coming in future updates.
Can DeFi positions generate yield while being used as collateral?
Yes. Your assets can continue generating yield in DeFi protocols while serving as collateral for your card spending.
Fees and Costs
What fees does Swype charge?
USD transactions:
Flat 0.5% just-in-time fee per transaction (for all USD transactions Brahma facilitates).
Non-USD Transactions
Less than 10 USD
3% FX charges
Visa
Between 10-100 USD
2% FX charges
Visa
Above 100 USD
1.5% FX charges
Visa
Brahma charges a 0.5% just-in-time fee in addition to the tiered Visa FX fees mentioned above for Non-USD transactions.
Are there borrowing costs?
You pay the standard borrowing rates from the underlying lending protocol (AAVE or Euler). Swype doesn't add additional borrowing fees on top of protocol rates.
What about disputed transactions?
Disputed transactions incur a 30 USD fee to start an investigation with Visa. This fee covers the cost of the formal dispute process.
Troubleshooting
My card creation failed. What should I check?
Check that your KYC status is completed. If issues persist, contact support via the chatbot or DM us.
My card isn't showing. How do I fix this?
Try refreshing the page. If the card still doesn't appear, contact support via the chatbot or DM us.
Can I use smart contract wallets?
Yes. The system supports smart contract wallets and implements EIP1271 signatures for compatibility with multisig wallets like Safe.
How do refunds work?
Refunds typically happen within 7-14 days depending on the merchant. If you don't receive a refund within this timeframe, please send us your Transaction ID for assistance.
Limits and Controls
Can I see my transaction history?
Yes. All transactions are logged and viewable through your Swype dashboard, including spending details, borrowing amounts, and policy enforcement actions.
How do spending limits work?
You can currently set daily spending limits through the Swype interface. The system enforces these limits in real-time before approving transactions.
Can I restrict merchant categories?
This feature is not live yet but will be available in future updates.
What card controls are available?
You can currently:
Change daily spending limits
Freeze/unfreeze your card
Change your PIN
Additional controls will be added in future updates.
How do I change my card settings?
Change your settings by clicking on "Manage Cards" in the Swype interface. Changes take effect immediately.
Last updated