Trading - Swaps
Introduction
Elektrik offers an easy and efficient Swap feature for traders seeking to execute simple, instantaneous trades. This function allows users to seamlessly exchange one token for another using the platform's robust liquidity pools, ensuring trades are executed close to the market rate with minimal slippage. Ideal for those who prioritize speed and convenience over precise price accuracy, Swaps eliminate the need for constant price monitoring and complex order setups. This makes it a perfect choice for both new and experienced traders looking for a straightforward and user-friendly trading experience.
How to execute Swaps
1. Accessing Swaps
Navigate to the Elektrik Exchange Swaps Page by clicking on "Swap" in the navigation menu.
This will take you to the Swaps order form page.
2. Setting Up Your Swap
From the dropdown menu, choose the pair of tokens you wish to trade.
Specify the amount of tokens you want to swap.
3. Checking Swap Details
Once you have decided how many tokens you would like to trade, the order routing system will calculate certain factors to be able to give you the expected price.
Gas Price: Listed next to the exchange rate in green, this is the price for executing the swap and calculated in LL (LightLink) Tokens.
Price Impact: The impact your trade will have on the market price of token you are swapping.
Expected Output: The amount of tokens you should expect to receive at current market price.
Minimum received after 0.1% slippage: The minimum amount of tokens your will receive in the swap after a 0.1% price slippage.
Route Taken: This is route your swap takes in order to execute. Most of the time this route will be a swap within the pool, but if there is low liquidity, it may route through another pool first to ensure you get the best price.
4. Approving the Token
If your token is not yet approved for trading, click "Approve Token" at the bottom of the order form.
A wallet popup will appear, allowing you to set and confirm a spending cap for the asset.
5. Placing the Order
After reviewing all details, click on the "Swap" button.
An order summary screen will pop up, here you can review the details of your order before executing. Confirm the order by clicking on "Confirm Swap”.
Your wallet will prompt a signature request. Review and confirm by clicking "Sign."
6. Viewing Swap History
A trader can also view all historic orders they have placed.
Click the "Swaps" button at the top right of the order form to view all past orders.
This will display the amounts swapped, the price they were executed at an the date/time of execution.
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