DeFi · 52 / 86
Swaps
An automated swap sells you one token for another from a pool, at a price that moves as you trade. The number you see and the number you get can differ.
The price moves as you trade
A small pool moves a lot when you trade a large size. That movement is slippage. The app may show a minimum you will accept. If the market runs past it, the trade fails, and you may still pay gas.
Who gets paid
The pool's liquidity providers, the interface, and the chain. A free front end can still route you through a toll someone chose.
Compare the rate with a second interface you opened yourself before you sign a large swap.
Check yourself
Is the quoted price guaranteed?
Only within the slippage limit you accept. Outside it, the trade should fail.
After this you can read the minimum you will receive before you sign a swap.
Previous: 51% attacks and chain halts · Next: Liquidity pools and impermanent loss