Swap Feature

How to Swap on Trader AI:

To start a swap, head over to the Swap tab at the top of Trader AI's app interface and connect your digital wallet.
Use the drop-down menus to select the tokens you wish to exchange. As an example, if you want to swap from SOL to Bonk, select SOL in the upper field and Bonk in the lower field.
Input the amount of SOL you'd like to swap. Once you're ready, hit the 'Swap' button to initiate the transaction.
The confirmation should come through quickly, updating your balance. Occasionally, the balance update may take a few seconds.

Congratulations on completing your first token swap with Trader AI! Ready for more? Dive right back in and swap to your heart's content.

Key points

When engaging in token swaps on decentralized exchanges (DEXs), it's crucial to observe several key practices to ensure transaction authenticity and protect your investments:

Verify Token Mint Addresses: It's important to recognize that token attributes like the name, symbol, and icon can be duplicated. The mint address is the definitive identifier of a token. Always verify it before making transactions.
Use Validated Token Lists: To enhance security, consider using a 'strict' mode for trading, which limits operations to a pre-validated list of tokens, reducing the risk of interacting with fraudulent or misidentified tokens.
Understand Price Quotes: Be aware that the price quotes you see are based on the present state of pool liquidity, which can fluctuate. Certain protocols, especially those reliant on oracles, may cease swaps if there's significant price movement.
Set Slippage Tolerance: To safeguard against unfavorable price movements during a transaction, setting a slippage tolerance is advisable. This acts as a buffer, allowing your swap to go through only if the price deviation is within a range you're comfortable with.
Assess Price Impact: Before you confirm a swap, review the price impact, which can vary among different AMMs and DEXs. A higher price impact means you're likely to receive less value for your swap.
Cross-reference Price Feeds: Always compare the swap price with reliable external price feeds from platforms like Coingecko or centralized exchange (CEX) listings to ensure you're getting a fair rate.

This is extremely important, always check the price impact and the minimum received amount when making big swaps or when swapping in a very low liquid pool.

Minimum Received: The smallest number of tokens you'll get from a trade.

Price Impact: the difference between the market price and the estimated execution price based on the size of your trade.

Slippage Tolerance: The biggest price change you'll accept for your trade. Find this in "settings" on the swap.

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Last updated 5 days ago

Key points

When engaging in token swaps on decentralized exchanges (DEXs), it's crucial to observe several key practices to ensure transaction authenticity and protect your investments:

Verify Token Mint Addresses: It's important to recognize that token attributes like the name, symbol, and icon can be duplicated. The mint address is the definitive identifier of a token. Always verify it before making transactions.

Use Validated Token Lists: To enhance security, consider using a 'strict' mode for trading, which limits operations to a pre-validated list of tokens, reducing the risk of interacting with fraudulent or misidentified tokens.

Understand Price Quotes: Be aware that the price quotes you see are based on the present state of pool liquidity, which can fluctuate. Certain protocols, especially those reliant on oracles, may cease swaps if there's significant price movement.

Set Slippage Tolerance: To safeguard against unfavorable price movements during a transaction, setting a slippage tolerance is advisable. This acts as a buffer, allowing your swap to go through only if the price deviation is within a range you're comfortable with.

Assess Price Impact: Before you confirm a swap, review the price impact, which can vary among different AMMs and DEXs. A higher price impact means you're likely to receive less value for your swap.

Cross-reference Price Feeds: Always compare the swap price with reliable external price feeds from platforms like Coingecko or centralized exchange (CEX) listings to ensure you're getting a fair rate.

This is extremely important, always check the price impact and the minimum received amount when making big swaps or when swapping in a very low liquid pool.

Minimum Received: The smallest number of tokens you'll get from a trade.

Price Impact: the difference between the market price and the estimated execution price based on the size of your trade.

Slippage Tolerance: The biggest price change you'll accept for your trade. Find this in "settings" on the swap.