Guides
How To Swap
Breaking Down the Platform
In term of set-up there is only two things to do:
- First, navigate to the trade tab in the top bar
- Ensure your wallet is connect and that you are on Sonic mainnet
Quote Factors
Swap Routers: The swap routers section allows you to pick which exchanges you'd like your swap to go through. You can toggle on or off certain exchanges to isolate the one you want to use. For the best swap outcome, leave them all selected. The underlined box is the one used in the current route
Route: The route shows you how your money will be moving. In this example I am swapping $S to $SHADOW through Magpie, just as displayed.
S per Shadow: This value is the amount of token 1 you need for a single token 2. In our example, it costs 65.85 $S to purchase 1 $SHADOW. The amount of token 1 that you're swapping divided by this number will give you the amount of token 2 you will be receiving.
Price Impact: In simple terms, this is how much your swap can vary. In more complex terms, this value is the amount that your swap change the balance of the liquidity pool, ultimately affecting the price and changing your final swap output.
Minimum Received: The minimum received value is the floor for how little you can receive from a swap. Factors such as price impact and slippage can affect this. Typically, it is a negligible loss but if you have extremely high slippage it can be quite a large loss.
Refresh Button: If you want to change any of these values or get the most up to date quote, the refresh button will do exactly that. Best practice is to always refresh the quote to get the most efficient swap parameters.
Other Features
Auto Slippage: This is where you can alter your slippage value, typically only needed to trade volatile pairs. For normal swapping, leave this on auto for the best results. To understand slippage better, head to the "Slippage Tab"
Show Chart: This will open the chart of the pair that you are currently swapping. This will show the chart for the value in point 4 (S per Shadow)
Choosing From the Token List Pop-up
When swapping tokens you need to dictate which tokens you are selling and buying.
The top token is the sell token, this is what you're swapping out of.
The bottom token is the buy token, this is what you're swapping into.
For example, in this screenshot we are swapping 1000 $S (selling) into 15.377 $SHADOW (buying)
By clicking on or around the drop down arrow on the left side of the swap box, it will pop up the token selection page. This is how you change the token you are swapping, lets break it down:
At the very top you have a search bar to help you find any of the tokens tradeable on Shadow. You can search by using the full name, ticker, or contract address of the token.
Right below that is the popular tokens section, this is a collection of the most traded tokens on Shadow organized for ease of use.
The bottom section is a list of the all the tokens on the platform. This section also displays how many tokens you have of each and the dollar value of those tokens (0 displayed for all because the wallet used in the screenshot is empty)
If a token isn't on the popular token list you can favourite it and move it to the top section by clicking the star.
Verify
Once you have selected the tokens you want to swap and have inputted and specified the amounts it is very important to verify all the details of your swap. We can do this in 3 steps.
- Verify the slippage, keep it on auto unless you know that you want to change it
- Verify the tokens you are swapping and the amount you are swapping
- Review the route details, the main details are the price impact and minimum received. Ensure that the price impact is close to 0 and that the minimum received is close to the amount displayed in the swap section.
Once verified, you are good to hit the swap button and confirm the transaction in your wallet. You may need to approve the token you are swapping from if you haven't used it before.
Once you approve the token you will be prompted in your wallet again to make the actual swap. Once completed you'll be met with a pop-up at the bottom of your screen confirming the swap.