⚡How to Swap Tokens
Last updated
Last updated
Trading on MiaSwap is very simple. There will be no charts or jargon to confuse you, and all calculations will be done for you.
You will need an ONUS Chain-compatible wallet before you can trade. You can find out how to get one here. You will also require ERC20 tokens on ONUS Chain to trade with. You can find out how to get some here.
1. Go to the MiaSwap Exchange.
2. If you haven't already connected your wallet to MiaSwap, see the guide here.
3. In the "From" section, select the token you want to trade from the dropdown menu.
Whatever token you choose, make sure you have enough to trade with. The balance is displayed bellow the token input box.
4. In the "From" section, select the token you want to trade with. Then, by clicking inside the input box, enter an amount for your "From" currency.
The amount in your "To" currency will be calculated automatically. If you prefer, you can type your "To" amount and have the "From" amount estimated automatically.
5. Carefully check your information and then click the Swap button.
A window with additional information will appear. Check if the information is correct.
When you're finished, press the Confirm Swap button. Your wallet will request confirmation of the action.
7. You can view your transaction details on the ONUS Explorer.
MiaSwap is a DeFi application that works with the wallet to complete on-chain transactions such as swapping, staking in farms and pools, and so on.
As a result, the first step is to ensure that you have enough ONUS to cover the gas fee for on-chain transactions. Typically, the gas fee varies with the number of transactions in the queue; if there are more transactions, a higher gas fee may be required to push the transaction through.
If your swapping action still fails and an error message prompts you to revise the slippage, you may want to check if the tokens you are attempting to swap have any transaction fees or restrictions.
It is not uncommon for tokens to include a transaction fee in their contracts; typically, these fees could be used for burning, funding a treasury of a fair launch project.
The transaction fee, whether inclusive (a portion of the swap amount is sent elsewhere than your address, resulting in a lower output than expected for the estimated input) or exclusive (requiring an additional transfer from your address to send extra tokens, resulting in a higher input than expected for the estimated output), affects the input and output amounts that you agree to when signing the transaction. Because of the tax, many transactions are unable to meet the input and output requirements.
Before you exchange any tokens, check their website to see if they have a transaction fee mechanism (or tax as many projects put it). If there is, make sure you set a slippage that is sufficient to accommodate the transaction fee — for example, if there is a 5% transaction fee, your slippage must be at least 5% plus the normal trading slippage based on your trading amount and the liquidity of the token, say 5.5%-6%.
In some extreme cases, including some scams, some tokens even have a block on most or all chain transfers, or only allow certain addresses to sell, making it impossible to successfully swap the token. Learn about the token you want to exchange and be aware of any fees or restrictions!
