How to do a swap on OccamX?
Last updated
Last updated
In order to trade, pick two tokens you want to swap from a dropdown menu, like mADA and multiUSDC for example:
Now, enter the amount you wish to sell or buy - write just one value as OccamX will automatically count the amount of the second asset. So you can set how much you want to spend or how much you want to receive. You can see the current conversion rate in the bottom right corner. In case your token is not present on the list, paste its contract address in the field. You can adjust swap settings by clicking on the gear symbol, from there set your own slippage tolerance and transaction deadline.
If it is the first time swaping from the selected asset you will need to sign an approve tx in order to grant permission to the Dapp for spending such asset. After that just click “Swap” and a new window is showed with all details of the tx for a final user verification, from there you can check the conversion rate and price impact (the difference between market price and estimated swap price due to trade size), after reviewing the tx just hit the "Confirm Swap" button and sign the tx in your Metamask wallet.
After signing the tx a window showing the tx submitted with a basic info of the swap will appear:
Wait some seconds until your tx is approved in Milkomeda blockchain and then check your updated balance in Metamask.
If a token is not available in the default tokens list in the Swap UI, then you need to import it, lets see an example:
Let's suppose you want to trade in OccamX the EMILK token, but it is not in the default token selection list in the Swap tab. As it exists in Milkomeda Cardano (C1) then, in order to import the EMILK token you need to go to the list of all tokens available in Milkomeda, then find and click the EMILK token and copy its contract address.
After that go to OccamX , in the Swap tab hit the “Select a Token” dropdown button, paste the contract address previously copied of the EMILK token in the empty field, and then the token will show up below.
Then click in the “Add” minibuton, review the warning prompt showed about the token you are about to import and click in the “Add token and continue” button
After that, the EMILK token will always show up in the Select Token dropdown button in the Swap tab, and you can remove it at any time from there by clicking the “Remove” minibutton.
Slippage tolerance is the difference between the price at the confirmation time and the actual price of the transaction user is willing to accept when swapping tokens. The transaction will revert if the price changes unfavorably by more than this percentage.
Transaction deadline is the maximum transaction time that a user can accept. The transaction will revert if it is pending for more than this period of time.
