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I need to create a smart contract where each token of mine will be exchanged for 1 usdt, that is, a person sends 1 usdt to the function and he adds 1 token to his balance sheet. How can I do it? with eth it is simple but usdt is being a challenge for me. Does anyone have an example? How can I test on the ropsten network?

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For ERC20 the usual approach is to require the user to approve your contract.

You have to do something like this from the front end.

// USDT parameters
const erc20Token = new web3.eth.Contract(USDT_ABI, USDT_ADDRESS)

// Contract that will receive USDT
const recipient = new web3.eth.Contract(RECIPIENT_ABI, RECIPIENT_ADDRESS)

// Require user approval
await erc20Token.approve(AMOUNT, RECIPIENT_ADDRESS).send({from: USER_ADDRESS})

// Call function on recipient to retrieve USDT
await recipient.deposit(AMOUNT).send({from: USER_ADDRESS})

Smart contract


contract Recipient {
    // USDT token
    IERC20 usdt = IERC20(USDT_ADDRESS);

    // Token to send for USDT
    IERC20 token = IERC20(token);

    function deposit(uint256 amount) public {
        // Transfer amount USDT tokens from msg.sender to contract
        usdt.transferFrom(msg.sender, address(this), amount);

        // Send amount tokens to msg.sender
        token.transfer(msg.sender, amount);
    }
}

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  • what would be USDT_ABI? can I test this contract at ropsten? thanks – Augusto Furlan Feb 22 at 10:26
  • And my FrontEnd you refer javascript? In my website – Augusto Furlan Feb 22 at 10:42
  • @AugustoFurlan By USDT_ABI I meant the ABI contract for USDT (you can get it from etherscan for example, or use any generic ERC20). Front end will be the part that interact with your users. – Ismael Feb 22 at 13:35
  • Alredy, do you have a contract with this function that you want to share? I'm trying to 3 days and to no avail ... – Augusto Furlan Feb 22 at 17:51
  • @AugustoFurlan If you share your code we can analyse what is wrong with it. A common error is trying to call approve from the contract. – Ismael Feb 22 at 20:43

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