Swap
Token swaps on SpookySwap are a simple way to trade one token for another via automated liquidity pools. On Spooky, you can trade at market price, or set a specific price for a limit order that can be triggered 24/7!
When you swap (trade) on the exchange, you will pay a 0.2% trading fee (0.22% for limit orders), of which 0.17% is returned to liquidity pools as a reward for liquidity providers and 0.03% to xBOO Stakers. None of this fee is going to the treasury or dev fund like traditional DEXs.
Conversely, when you provide liquidity, you will earn that fee.
How to Swap
Requirements
MetaMask wallet
Some (less than 1 cent) FTM for gas see guide for how to get free gas
Steps
First connect to Fantom Opera with your MetaMask wallet by clicking the Connect Wallet button on the top left. MetaMask will ask your permission to switch networks.
Go to "Swap"
Choose the token you want to swap from by clicking on the "From" token, a window will pop up to select the token with your balances
If the token you're looking for is not in our default list, you can add it by entering its address in the search box, and an option to add it to the list will appear
Once you have selected your "From" token, select your "To" token the same way
If you haven't approved the tokens yet, you will be prompted to approve them. Click on the "Approve" button, and your wallet will ask you to confirm the approval. This may take a few seconds in the network to approve.
Once "Swap" appears enabled, you can click swap, your wallet will ask you for your permission.
You will see the "Transaction Submitted" screen when your request to swap has been sent to Fantom to process. To check on the progress, you can click on "view on ftmscan", or view the activity link in your wallet.
You have now done your first swap on SpookySwap, hooray!
Limit Orders
Limit orders are orders where you can submit a buy or sell order at a specific price, if the market reaches your price, the buy or sell will activate automatically. Limit orders only take fees when they are executed, they can be canceled and placed without any fees.
Why use limit orders? Limit orders can be useful in a number of scenarios. Let’s look at some examples.
To “buy the dip” or accumulate at a lower price
BOO is currently trading at 12 FTM to 1 BOO. An investor looking to “buy the dip” (say at 10 FTM to 1 BOO) does not need to constantly monitor the market and wait for the dip to make a swap. Instead, they could simply enter a limit order specifying 10 FTM to 1 BOO. This order will not execute unless BOO dips to 10 FTM or lower.
To “take profit” or sell at a higher price
ETH is currently trading at 2500 USDC. An investor who wishes to take profit 10% higher than this price could enter a limit order swap at 2750 USDC. This ensures his/her ETH will only sell for 2750 USDC or higher.
By using the limit order feature of Spookyswap, you don’t have to monitor the market 24/7 to execute a swap at your ideal price. That is zero-stress swapping!
How to Submit a Limit Order
*NOTE* Limit orders with tokens that have a tax on transfer are not recommended, the tax could potentially be triggered multiple times.
We will now walk through the steps to place limit orders for the 2 examples cited above.
Connect your wallet, make sure it's on the Fantom chain
Navigate to the Swap page, click on "Limit" in the tab
Example 1: To place limit buy order for 10 FTM per BOO
Select “FTM” under “From”
Select “BOO” under “To”
Enter the amount of FTM you wish to swap out. Once you enter an amount, the current market price will be displayed. You may use the double arrows to toggle ratios
For this example, since we have a specific price (10 FTM per BOO, or 0.1 BOO per FTM), we will simply enter 0.1 in the “Limit price” box next to BOO per FTM
5. Double check to make sure you are okay with the projected minimum received, price impact and fees (0.22%)
6. Click “Place Order”. You can now see your order in the “Open” tab of Orders section.
Example 2: To place limit sell order for ETH to USDC for 10% higher than current market price
Select “wETH” under “From”
Select “USDC” under “To”
Enter the amount of wETH you wish to swap out. Once you enter an amount, the current market price will be displayed. You may use the double arrows to toggle ratios
For this example, since we want to sell ETH at 10% higher than current market price, we will enter 10% next to “Above Market”. The limit price and projected amount received will update accordingly
5. Double check to make sure you are okay with the projected minimum received, price impact and fees (0.22%)
6. Click “Place Order”. You can now see your order in the “Open” tab of Orders section.
How to Cancel a Limit Order
Navigate to the Swap page, click on the “Limit” tab
Your open limit orders are displayed under the “Open” tab of “Orders” section
Select the one you want to cancel
4. Click “Cancel” and submit your transaction on MetaMask
5. You will see the funds locked up in the order return to your wallet 6. You can see all historical limit orders by clicking on the “Past” tab
Swap FAQ
How do I switch the direction of the swap? You can do that by clicking on the arrow between "From" and "To".
I don't see the tokens I want in the token list. What do I do? You can add new tokens by searching for its address, and adding it to the list. What is the swap fee? To reward liquidity providers, a swap fee of 0.2% is taken from the swap transaction to liquidity providers. None of this fee is going to the treasury or dev fund like other DEX protocols. My limit order won't cancel? 1. Clear your cookies 2. Check on the order again, if it's gone, that means it has been cancelled. You can confirm this in your wallet activity log
My limit order didn't execute? When the chart shows that the price briefly went into the area below the limit price there are different factors that could be at play:
Limit orders that were put in earlier might have been filled first
It might have been impossible to fill the whole order at the desired price and amount due to price impact
The routing form the token you were swapping might have made it impossible to execute at the desired price
For taxed tokens, the tax can cause problems as well for price impact and slippage settings
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