Classic Swaps
Last updated
Last updated
As well as Zero Slippage Swaps for blue-chip tokens OmniDex also enables users to swap between a portfolio of smaller cap tokens using Automated Market Maker (AMM) swaps. AMM uses individual liquidity pools to enable trading between token pairs.
Note: In order to achieve the lowest possible exchange price between smaller cap tokens and some blue-chip tokens users may choose to split the transaction into two parts. Firstly swap the small cap token to the highest liquidity blue-chip token on the Classic Exchange (this will normally be TLOS). Then use Zero Slippage Swaps to convert between blue-chip tokens.
To swap between smaller cap tokens follow the steps below:
Go to the Classic Exchange page here.
Connect your Telos EVM compatible wallet.
Choose the token you want to trade from the dropdown menu in the "From" section. The default setting is TLOS. Make sure you have some tokens to trade with!
Choose the token you want to trade to in the "To" section as above. Next, type an amount for your "To" currency by clicking inside the input box. Your "From" currency amount will be estimated automatically. You can also type your "From" amount and have the "To" amount estimate automatically if you like.
If you have not previously performed this particular swap then the exchange will ask you to approve the tokens with your wallet. This allows the smart contracts to interact with your wallet in order to perform the trade. Click 'Enable' and authorise the tokens in your wallet
Now click Swap and check the details of the transaction on the confirmation modal
The Minimum Received - this is the minimum amount that you will receive from the swap
Price Impact - this is the price slippage that will occur as a result of the transaction and is dependent on the amount of liquidity available for the transaction. In some instances it may be possible to reduce the price slippage by splitting the transaction into more than one part
The Liquidity Provider Fee - is the fee that will be paid to the liquidity provider for providing the funds to enable the transaction. See below for more details on fees.
Finally, if all details are correct then click Confirm Swap and confirm the transaction with your wallet.
Done! You can click View on Telos Explorer to see your transaction in more detail.
When you make a token swap trade on the exchange you will pay a 0.25% trading fee, which is distributed as follows:
0.17% - Returned to Liquidity Pools and distributed as rewards to LP providers.
0.064% - Used for buybacks to reward Karma stakers.
0.016% - Used to fund the ongoing development of the platform.
