Swapping on Fibrous
Elevate Your Trading Experience with Fibrous!
Optimized Token Swapping with Fibrous
Fibrous allows you to swap tokens and offers various settings to serve the best trade option for you.
1. Swap: Begin by selecting 'Swap'.
2. Global Settings: Click on the settings icon.
Slippage Tolerance:
Slippage is the potential price difference from when you initiate a trade to when it's processed on the blockchain.
'Auto' is set at 1.0%, meaning the final price could vary by half a percent from the quoted price.
You can adjust this according to your risk tolerance.
Liquidity Sources:
Fibrous will automatically select the best sources on the selected network. You can choose the liquidity sources you want to use from this tab according to your preference.
Benefits of Using Fibrous:
Price Optimization: Fibrous isn't just an exchange, it's an aggregator. This means it looks across multiple exchanges to get you the best price.
Gas Fee Savings: Compared to other platforms, Fibrous often results in lower gas fees.
In conclusion, while platforms like Uniswap are direct exchanges, Fibrous ensures that you get the best deal across multiple exchanges, often saving you on fees and getting you a better swap rate.
How to Swap on Fibrous?
To swap assets on Fibrous, perform the following steps:
Go to Fibrous, and click on the “CONNECT WALLET” button in the upper right corner.
Once connected, select the tokens you want to swap and type in the amount in the left field. You will then see a quote of the amount you will receive under the right field.
After everything is set up, you can click on the SWAP button. In the tab that appears, you can adjust the slippage settings and see the amount you will receive in the event of negative slippage. Once everything is in order, you can initiate your transaction by clicking the "CONFIRM SWAP" button.
Swapping to Another Destination
In the dynamic world of DeFi, our platform introduces the "Another Destination" feature, enabling users to send tokens directly to an alternate address post-swap. This innovation streamlines the transfer process, combining swap and transfer into one step, thus saving time and reducing transaction costs for a more efficient, user-centric experience.
How "Another Destination" Works
Select the Input Amount
Initiate the Swap
Adjust Slippage Tolerance
Enable Another Destination
Enter the Recipient's Address
Confirm and Execute
Setting the receiver address as a centralized exchange, bridge wallet, or an unsupported chain/network may result in the irreversible loss of tokens. Exercise caution when specifying the destination address to ensure compatibility and recoverability of your assets.
Monitoring Transaction Confirmations
After confirming the transactions in Fibrous, you can complete the process once you also approve them in your wallet. Later, you can view the details of the transaction in the pop-up that will appear in the bottom right corner of the Fibrous interface.
By clicking on the "transaction id" in the pop-up at the bottom right, you can view and track many technical details of your transaction on the Voyager Block Explorer.
Lastly, you can view the aggregated swap you executed in Fibrous under the history tab for your all confirmations.
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