Token Swapping
Swapping tokens on XenDEX is designed to be efficient and user-friendly, leveraging the X1 Blockchain’s high speed and cost-effective transactions powered by XN.
How to Swap
1️⃣ Navigate to Swap Start by selecting the Swap option from the top navigation menu on XenDEX. Ensure your Backpack wallet is connected and has enough XN to cover the gas fees for your transaction.
2️⃣ Select Tokens Choose the tokens you want to swap by using the drop-down menu or pasting a token address. For example, you can swap XN for DEX (the governance token on XenDEX).
3️⃣ Enter Amounts Enter the amount you’d like to swap or the amount you wish to receive. XenDEX will calculate the best rate based on the liquidity in the pool. When everything looks good, click Swap.
4️⃣ Confirmation After the transaction is confirmed on-chain, your balance should update shortly to reflect the new tokens. If it doesn’t update immediately, reconnect your wallet or refresh the page.
Important Considerations When Swapping
⚠️ Price Impact: This shows the effect of your trade on the token price, especially in pools with lower liquidity. For instance, large trades relative to pool size may cause significant price changes.
⚠️ Minimum Received: This is the minimum amount of tokens you’re guaranteed to receive from the swap, safeguarding against excessive slippage during volatile market conditions.
⚠️ Slippage Tolerance: Customize your acceptable slippage (price difference) by adjusting the setting in the swap interface.
Handling Timeouts and Transaction Speed
If you encounter a Timeout error, it means the transaction didn’t reach the chain. Try increasing the priority fee slightly (paid in XN) to prioritize your transaction, but note that higher fees improve your chances of inclusion without guaranteeing success.
With DEX as the governance token and XN as the fuel for transactions, XenDEX provides a flexible, high-speed trading experience within the X1 ecosystem. Happy swapping!
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