Protect Your Trades With Advanced Configurations
Introduction
XOX Labs prioritizes the safety of our user's funds and have therefore also implemented advanced swap configuration options that enables traders on our platform to safeguard their swaps. Due to the nature of how transactions are publicly queued for processing on the blockchain, external parties can take advantage of this fact to reorder transactions to extract value from a swap at the expense of the trader.
XOX DEX V1 allows our users to minimize the aforementioned negative effects by allowing users to configure a slippage tolerance whereby swaps are automatically failed (i.e. reverted) when the tolerance is exceeded. This ensures that traders do not receive any unexpected surprises when their transactions are executed on the blockchain.
Note that in times of extreme volatility, traders swapping exotic tokens might need to increase the slippage tolerance due to the constrained liquidity for exotic token pairs. While XOX DEX V1 enables setting a customized slippage tolerance, XOX Labs recommends that traders only proceed with such swaps if they are aware of the elevated risks. As such, aside from more advanced traders, XOX Labs recommends confirgurnig slippage tolerance using one of the preset options.
Safeguarding Your Trades
Step 1: Open swap configuration helper
The swap settings can be accessed on the top right of the swap page via the ⚙️ icon.
Step 2: Configure swap parameters
In the swap configuration helper that appears, you can configure the following parameters:
Slippage Tolerance: The acceptable percentage difference between the estimate output amount and the final executed amount. You can select from one of the recommended options or input a custom slippage tolerance amount.
Tx Deadline: The amount of minutes which your swap order will remain active from the time of submission. Once the tx deadline is passed, the swap will expire and no longer be valid.
Last updated
