Swapping Tokens (SWAP)
Step-by-Step Guide to Making a Swap
Navigate to the Swap Section
Open the Ilum.Fi app and click on "Swap" from the top menu.
Select a Trading Pair
Choose the token pair you want to swap from the dropdown menu
You can also search for specific tokens if they aren’t displayed.
Enter the Amount to Swap
In the "From" field, specify the amount of the token you want to exchange.
The platform will automatically calculate the amount you’ll receive in the "To" field, based on the current price and liquidity.
Review the Swap Details
Check the price impact, trading fees, and minimum amount guaranteed after the swap.
Make sure you’re comfortable with the exchange rate displayed.
Check Slippage Settings (Optional)
If you expect market volatility, click the settings icon (⚙️) and adjust the slippage tolerance (default is usually 0.5-1%).
Lower slippage: Safer but may fail in volatile markets.
Higher slippage: Increases the chances of success but at a worse price.
Approve the Token (If First Time Trading)
For first-time trades with a token, click "Approve [Token Name]" and confirm the approval in your wallet.
This grants Ilum.Fi permission to spend your tokens.
Confirm the Swap
Click "Swap" to proceed.
Review the swap summary, then click "Confirm Swap."
Approve the Transaction in Your Wallet
Your wallet will pop up with a confirmation request.
Approve the transaction and pay the necessary gas fees.
View Transaction Status
After confirming, you’ll see a pending status until the swap completes.
Once completed, the transaction hash will appear, and you can view the transaction on Lumia block explorer.
Monitoring Swaps and Handling Errors
Check Your Trade History
Go to "Trade History" to view your past swaps and transaction details.
Dealing with Failed Transactions
If a swap fails:
Check your slippage tolerance and try again.
Ensure you have enough gas tokens in your wallet.
Confirm the network is stable (no congestion or downtime).
Swapping Tips for Users
Check Fees Before Swapping: Fees can vary depending on the liquidity depth of the selected pool.
Optimize Gas Fees: Use Lumia L2 during off-peak hours to save on gas fees.
Last updated