In the context of cryptocurrency, a swap token refers to a type of token that is created as part of a token swap, also known as a token exchange or token migration.

Token swaps occur when a cryptocurrency project decides to migrate its tokens from one blockchain platform to another, often to improve functionality, scalability, or security. To do this, the project will create a new token on the target blockchain platform and provide a mechanism for users to exchange their old tokens for the new ones at a predetermined rate.

The new token created as part of the swap is often referred to as a swap token. It is used as a temporary placeholder until all users have exchanged their old tokens for the new ones, at which point the swap token is typically burned or removed from circulation.

Swap tokens are designed to be a seamless and transparent way to migrate tokens between blockchain platforms, without requiring users to manually move their tokens from one wallet to another.