BlockSwap Guide & Update (2.8.0)
Hello. This is CoinUs Team.
We would like announce our new service launch, BlockSwap.
Now, without the hassle of transferring to the exchange, you can trade tokens at the optimized price in CoinUs.
You can now use Paraswap’s service, which provides a convenient interface by gathering the liquidity of multiple DEXs at one place, on CoinUs. Trade 700+ tokens at an optimized price from CoinUs Wallet.
- What coins does BlockSwap support?
Currently ETH and ERC20 tokens are supported.
If there are trading issue due to liquidity issues, please change the quantity or try again after a while. For more details, please feel free to contact us through customer center.
[Swap Terms]
- Approve Token Permission
In the case of ERC20, in order to proceed with the swap, you need to authorize the contract to transfer the tokens.
A network fee occurs when performing Approval and you only need to proceed once before the Swap.
- Slippage Rate
When performing a swap, there may be cases where the requested exchange rate and the actual exchange rate are different due to volatility. At this time, if the difference of the exchange rate becomes too large, the amount that the trader can receive decreases, so it may cause a disadvantageous situation.
For this purpose, before the transaction, set the slippage rate, and if the exchange rate becomes higher than the set slippage rate, the transaction is automatically canceled.
CoinUs sets at 1% by default and users can change manually from 0.1 to 15% from the advanced settings.
[reference] https://coinmarketcap.com/alexandria/glossary/slippage
- Price Impact
Price Impact indicates the impact of price fluctuations in liquidity. When liquidity is high, the price impact is small, and when liquidity is small, the price impact is large.
If the price impact exceeds 15%, trading is not possible.
[reference] https://coinmarketcap.com/alexandria/glossary/price-impact
Thank you.
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