- Visit DODO (https://app.dodoex.io/)
- Connect your browser wallet. DODO supports most of the popular browser wallets, such as MetaMask, Trust, TokenPocket, imToken, SafePal, Coinbase Wallet, etc.
- Click the “Swap” tap to start trading.
1. Choose a Trading Pair
You can find trading pairs by searching token symbols or addresses.
2. Configure Your Trade Settings
Trade settings can be found by clicking the gear button at the top right of the Swap dialog.
Slippage Tolerance: When the difference between the market price and the quoted price from DODO’s liquidity sources for tokens you would like to trade exceeds your slippage tolerance, the trade will fail.
- When the interval between the time a transaction is submitted and the time it is confirmed on-chain exceeds the transaction deadline, the transaction will not be executed in order to protect traders from market volatility.
- Consider this scenario: a trader sets the transaction deadline to 20 minutes and the transaction ends up pending for more than 30 minutes after submission as its gas fee was set too low. In this case, the transaction's pending time exceeds its transaction deadline and the DODO contract does not execute the transaction.
- When swapping tokens, traders may receive alert notifications when the slippage for tokens they would like to trade is high. The price deviations resulting in this slippage may be caused by the following reasons: Low liquidity、Delayed updates of the tokens' market prices
- When a token's slippage exceeds 20%, traders will not be able to submit transactions for this token unless Expert Mode is enabled.
Disable Indirect Routing:
- Checking this option ensures that the routing algorithm will only route to liquidity pools between the two tokens in the trading pair and will ignore any routes with intermediary tokens.
- Advantages: Resistant to front-running, saves gas fees.
- Disadvantages: Not being able to trade with intermediary tokens. For example, there is only one liquidity pool for the DNX/USDT pair on the DNX network. If you disable indirect routing, you will only be able to buy DNX with USDT and not with any other currency.
- Private Swap is a special feature that can effectively protect users from sandwich attacks that could come about due to the differences between the slippage settings and the current price in the liquidity pool.
3. Approve, and Confirm
When staking, depositing, or trading a token for the first time on DODO, you need to give DODO permission to access that token in your wallet by clicking “approve” in your wallet app.