How to swap tokens?

Learn how to trade tokens in the forbitspace The Decentralized Exchange Super Aggregator

Once you’ve connected your wallet to the forbitspace app, you are ready to swap tokens.

Note: ALL Ethereum transactions cost gas (ETH) to pay for computation. In order to trade on the forbitspace protocol, you’ll need to have enough ETH in your wallet to cover the gas fees.

1. Select tokens

First, select the token you wish to trade and the token you wish to receive. Click on ‘Select a token’ and browse the list to find your token. You can also search by token name, symbol, or token address.

2. Enter the input or output amount

Next, enter the amount that you wish to trade. You can enter either your desired input amount or output amount.

If you want to sell a specified input amount

Imagine you want to swap exactly 2 ETH from your wallet to receive as much of the token as possible. To do that, enter your target input amount (e.g. 2) in the first token field. The app will automatically calculate the amount you can expect to receive as determined by the market price, liquidity pool depth, and other factors.

If you want to receive a specified output amount

Alternatively, when you want receive exactly 600 USDC by paying as little as possible, then type “500” in the second token field. The app will automatically calculate the required input amount that you must pay in order to receive 500 USDC.

3. Price Calculation

forbitspace’s aggregator’s source liquidity from different DEXs and thus offer users better token swap rates than they could get on any single DEX. DEX aggregators have the ability to optimize slippage, swap fees and token prices which, when done right, offer a better rate for users.
forbitspace use an algorithm spaceflight smart order routing will find the optimal route between pairs that gives you the best price for your trade and that split a single transaction into multiple orders across various DEX’s, also route orders through allows crypto traders to tap deep liquidity and receive better pricing low cost & efficient the most liquidity.

4. Approve the forbitspace router to swap your token

If this is your first time trading this token with the forbitspace protocol, then you’ll need to approve the token first. ‘Approve’ is an ERC-20 token

standard. When you approve a token, you grant the forbitspace router permission to send that token out of your wallet for the swap. You only need to approve a token one time. After that, you can trade it as many times as you want on forbitspace protocol.

5. Review your swap

Press the ‘Swap’ button to view a preview of your swap. This screen will show all the details of your trade:

Expected amount: this is the amount you can expect to receive as a result of the swap.

Liquidity Provider fee: the forbitspace protocol charges a 0.3% fee on all trades. This fee is incentivized liquidity providers to provide funds to the market and thus make your trade possible.

Route: the route of pairs that your trade executes through. The forbitspace app may route your trade through multiple pairs to achieve the optimal price.

Price Impact: the effect your trade will have on the market price for this token pair. In large pools such as ETH/DAI, small trades will have a negligible price impact. However, if you are trading large amounts or trading a token pair with low liquidity, then the price impact might be high and result in a worse overall price.

Minimum Received: this is the minimum amount you will receive from the trade. It is determined by the market price and your slippage limit setting. If the market price shifts suddenly or if your trade is front-run, then the forbitspace protocol will guarantee you receive at least this amount otherwise it will abort the transaction and return your assets, minus the gas fee. The Ethereum network does not refund gas fees.

When you’re ready, click ‘confirm swap’ and confirm the transaction in your wallet. Make sure you review the gas fee in your wallet and select an average or fast transaction speed. If your transaction is too slow it will fail and you will lose the gas you paid to try to execute that transaction. Your gas fee cannot be refunded.

You will be able to see the status of your transaction in your wallet or in the forbitspace app by clicking your account.

Gas fees can be quite expensive but change in real-time. If the gas fee for a swap is too expensive for you, come back later to see if the gas fee has come down.