Token swapping on Crodex is a simple way to trade one token for another via automated liquidity pools.
The service provided by Crodex is decentralized. The difference between decentralized and centralized exchanges is that users can complete the exchange of crypto assets without registering or logging in.
To trade a token on the decentralized exchange (DEX), there must be liquidity. The liquidity provided to DEX comes from Liquidity Providers ("LP") who stake their tokens in "Pools". In exchange, they get LP (Liquidity Provider) tokens, which can also be staked to earn CRX tokens in the Reward Pools (Farms).
When you make a token swap on the DEX you will pay a 0.3% trading fee, which is paid to liquidity providers proportional to their share of the pool. Fees are added to the pool, accrue in real time and can be claimed by withdrawing liquidity.
How to swap?
Step 1. Go to the swap site, and select the tokens you want to swap.
Step 2. Input the amount you would like to trade and click "Swap".
If the token you are trading has reflection, you may need to increase slippage tolerance.
Step 3. Swap screen will pop up asking for confirmation to Swap, click "Confirm Swap".
Step 4. Your wallet will pop up asking for confirmation to Swap, click "Confirm".
Step 5. Once confirmed in your wallet, you will see a "Transaction Submitted" pop up and after a few seconds, your trade should be completed!
How to increase your slippage tolerance?
Some tokens may have reflections. This simply means there is a type of transaction tax when trading those tokens. That is part of the token design and not a feature of the Crodex platform.
Reflections on a token typically range between 5% to 25%.
To trade these tokens, you need to increase your slippage tolerance, do this by clicking this button.