Settings
How Settings work in AssetX:
Last updated
How Settings work in AssetX:
Last updated
You can navigate to settings by using the menu on the left (desktop), or by using the icon on the header (mobile).
What is slippage
Slippage on AssetX DEX refers to the difference between the expected price of a token swap and the actual price at which the trade is executed. This occurs due to price changes that happen between the time a trade is initiated and when it is completed. Slippage can result in receiving fewer tokens than expected in a trade, or in some cases, a slightly better deal if the price shifts favorably.
Causes of Slippage
Slippage can occur for several reasons:
Market Volatility: If the price of a token fluctuates rapidly due to high trading activity or market instability, the price might change significantly between the time you submit your trade and when it is executed.
Liquidity: If the liquidity in a particular token pool is low, even small trades can cause price changes within the pool. This results in slippage as the pool adjusts the token price to maintain the balance of assets.
Order Size: Large trades relative to the size of the liquidity pool can cause more significant slippage, as the price must adjust more to accommodate the trade.
Slippage Tolerance
On AssetX, users can manage slippage by setting a slippage tolerance, which allows them to specify the maximum acceptable price difference between the expected and actual price of a swap. AssetX offers three slippage tolerance levels: 0.1%, 0.3%, and 0.5%. These tolerance levels help users control how much price movement they are willing to accept during a trade.
0.1% Slippage Tolerance: This is the lowest tolerance level, offering the most protection against price changes. It ensures that the trade will only execute if the price remains within a 0.1% range of the expected rate. This level is ideal for stable markets with low volatility but may result in more failed transactions if the market fluctuates quickly or liquidity is low.
0.3% Slippage Tolerance: A moderate tolerance level, this option balances the need for execution with some protection against slippage. It allows for slightly more price movement but still guards against significant shifts. This level is suitable for most trading situations, providing a good balance between successful execution and minimizing losses from price changes.
0.5% Slippage Tolerance: This highest tolerance level allows for greater price fluctuations, ensuring that the trade will likely be executed even in more volatile markets or low liquidity pools. However, users risk receiving fewer tokens than expected if the price shifts significantly during the trade.
By selecting the appropriate tolerance level, AssetX users can adjust their trading strategy to suit current market conditions, ensuring the right balance between successful trade execution and limiting exposure to unfavorable price changes.
What is a transaction priority
What Are Priority Fees on AssetX DEX? Priority fees on AssetX DEX refer to additional fees that users can opt to pay in order to prioritize their transactions over others within the blockchain. By paying a higher priority fee, users can ensure their transactions are processed faster, especially during periods of network congestion when many transactions are competing to be included in the next block.
How Priority Fees Work
Transaction Speed: The more priority fees a user adds to their transaction, the higher the likelihood that their transaction will be included in the next block by validators. This is particularly important when the network is busy or when there is a large volume of trades being processed.
Incentivizing Validators: Validators on the Polkadot network, which secures AssetX, are incentivized to include transactions with higher priority fees because these transactions yield greater rewards for them.
Optional Fees: Priority fees are optional on AssetX DEX. Users who want their transactions to be executed quickly, such as during periods of volatility, can opt to pay the extra fee, while others may choose to wait for their transactions to be processed at the standard fee rate.
When to Use Priority Fees
High Network Congestion: When the network is experiencing high traffic, paying a priority fee can help ensure that your transaction is processed in a timely manner.
Time-Sensitive Trades: If you are engaging in a time-sensitive trade where market conditions might change quickly, paying a priority fee ensures your transaction is processed faster, reducing the risk of slippage or missed opportunities.
Large Trades or High-Value Transactions: In situations where transaction speed is critical, such as large trades or high-value transactions, paying a priority fee can be worth the cost to ensure execution in the next block. In summary, priority fees on AssetX DEX provide users with the flexibility to accelerate their transactions when necessary, ensuring faster processing during periods of network congestion or when transaction timing is crucial.
On AssetX DEX, users can choose from several transaction priority options to determine how quickly their transactions are processed, especially during times of network congestion. These options allow users to balance transaction speed with cost, depending on their needs. Here are the available priority options and their associated costs:
1. Auto (Dynamic Cost)
Cost: Dynamic, depending on network conditions.
How It Works: The "Auto" option automatically adjusts the priority fee based on current network traffic. This is a convenient option for users who want the system to decide the optimal fee for processing their transaction, without manually selecting a priority level.
Use Case: Ideal for users who want a balance between cost and transaction speed without having to manage it themselves.
2. Normal (0 DOT Fee)
Cost: 0 DOT.
How It Works: The "Normal" option is the default transaction priority and comes with no additional fee. Transactions with this priority may take longer to process if the network is busy.
Use Case: Suitable for users who are not in a rush to have their transaction processed and want to avoid paying any extra fees.
3. High (0.00005 DOT Fee)
Cost: 0.00005 DOT.
How It Works: The "High" priority option allows users to pay a small fee to speed up their transaction. This ensures that the transaction is processed faster than the "Normal" priority, but at a low additional cost.
Use Case: Ideal for users who want faster execution without paying a significant amount in priority fees.
4. Turbo (0.005 DOT Fee)
Cost: 0.005 DOT.
How It Works: The "Turbo" option is the highest priority level available, ensuring that the transaction is processed as quickly as possible, even during times of heavy network congestion. Users pay a higher fee to have their transaction included in the next block.
Use Case: Best suited for users dealing with time-sensitive or large trades where transaction speed is critical and willing to pay a premium for immediate processing.
Auto: Dynamic cost, system-adjusted.
Normal: 0 DOT fee, slower transaction speed.
High: 0.00005 DOT fee, faster execution at a minimal cost.
Turbo: 0.005 DOT fee, fastest processing, ideal for urgent trades.
By selecting the appropriate transaction priority level, AssetX users can control the speed of their trades while balancing the associated costs to suit their specific trading needs.
Default Explorer
AssetX integrates SubID, Subscan, and Statescan as its default explorers to provide users with comprehensive, real-time insights into blockchain activity.
SubID offers a simple interface for checking account balances, crowdloans, and NFTs, making it ideal for user-centric activities.
Comprehensive User Insights: SubID allows users to easily track their balances, crowdloans, and NFTs, which is critical for managing assets on Polkadot.
Subscan is a high-precision explorer that supports multiple Substrate-based networks and provides advanced data on blocks, extrinsics, events, and staking, helping users track detailed on-chain metrics.
Detailed On-Chain Data: Subscan offers advanced data on blocks, transactions, and staking, helping users make informed decisions with deep blockchain insights.
Statescan focuses on substrate-based chains and provides comprehensive tracking for treasury activities, governance proposals, and cross-chain assets, making it ideal for monitoring ecosystem-wide activity.
Ecosystem Transparency: Statescan tracks governance, cross-chain assets, and treasury activities, giving users a clear view of the ecosystem's health and dynamics.
