How does ParaSwap work?

Can you explain in simple terms how ParaSwap operates? I'm curious about the process behind its functionality, from when a user initiates a trade to when the transaction is finalized. How does it facilitate the swapping of tokens between different blockchains, and what are the key features that make it stand out in the decentralized exchange space? Additionally, are there any potential risks or limitations that users should be aware of when using ParaSwap?