Making sure you can buy or sell $FROCK
Note: This medium article is about how to trade after the Protocol Launches. Read more about the Stealth Launch.
The protocol launch and open market trading will has commenced at February 23nd 11:12 AM UTC.
Make sure you are connected to the Fantom Opera chain.
The $FROCK has a transaction tax built in. Every buy, sell and transfer will be subject to a 22% tax. Read more about what the tax is used for here.
We chose SpookySwap as the Decentralized Exchange (DEX) where trade in the $FROCK token takes place.
To be able to trade on SpookySwap, the Slippage needs to be increased to a much higher value than non-taxed tokens need. The slippage set needs to cover both the price movement, and the tax taken.
Slippage for price movement
When buys from a DEX happen, the price increases. And vice versa, the price decreases when sells happen. Smaller orders, would only cause a 1% (or less, depending on the liquidity provided) movement in price, hence the default values are 0.1%, 0.5%, and 1%. Larger trades have a bigger impact on price (large compared to the liquidity of the trading pair).
When there is a lot of interest at a certain moment (for instance just after launch), a higher slippage is needed. There is a few seconds delay between the moment you see a price you like and click buy/sell, and the actual execution of the order. During this period, if the price moves further than the max set slippage, the order will not execute.
Slippage for taxes
The 22% taxes on the buy/sell, result in getting a smaller amount of tokens ($FROCK if you buy, $FTM if you sell) than you would get without a tax.
SpookySwap only looks at the number of tokens a trader would receive. It compares the token amount to be received with the initial number before taxes/price movement and if it less than the slippage allows, it block it.
Any trade in $FROCK therefor needs to at least have a 22% slippage to be accepted by SpookySwap, not taking the price movement in consideration.
The slippage should be set between around 30%.
Please note that setting the slippage does not mean you’ll pay more than is required. If the slippage needed to be executed would be 26% at a given time, and you set a higher value (for instance 45%), the trade will happen at the 26% slippage impact. You will not pay more than is needed for the trade to be executed.
On SpookySwap you can set the Slippage just above the “Swap button”. Click the edit/pencil icon:
At the screen that opens you set the Slippage Tolerance. Please ignore the warning that “Your transaction may be frontrun”.
If you want a fast execution time, consider selecting the Fast or Instant Transaction Speeds. This does increase your gas fees.
How can I manually add the token on SpookySwap?
Use this address: 0xe679ae2b7e97D759eC758fafe50cB011eBfb7D77
Using the 0xe679ae2b7e97D759eC758fafe50cB011eBfb7D77 contract address, click I understand and Continue.
You can now trade our token.
The contract cannot be found on SpookySwap?
Make sure you are connected to the Fantom Opera network.
IMPORTANT — PLEASE READ
Please be aware that there is a possibility that fake $aFROCK, $bFROCK or $FROCK tokens are created. Do not purchase anything that is not posted on our official socials / website. Please also be aware that Fractional Rocket team members will never reach out to you first. Always ensure you have the right token address and website URLs.
All information will be posted via official Fractional Rocket platforms:
- Website — https://fractionalrocket.money
- Web App — https://app.fractionalrocket.money
- Docs — https://docs.fractionalrocket.money/
- Twitter — https://twitter.com/Frac_rock
- Discord — https://discord.gg/fractionalrocket
Fractional Rocket cannot be held liable for any mistakes resulting from user negligence and inattention.
Please note: participation in these offerings comes with abundant risk. There is no guarantee your investment will perform well, or that the protocol will be successful. Please only contribute what you are comfortable losing. Crypto is risky in nature and you should always exercise risk management and caution.