🔄Exchange
Last updated
Last updated
Baptswap facilitates seamless swaps on the Aptos Network, allowing users to trade tokens in a straightforward and permissionless manner. This guide explains the key aspects of swapping tokens using the Baptswap protocol.
Process: Users select a token they own and a token they wish to acquire.
Execution: The swap sells owned tokens for the desired tokens, minus the swap fee (awarded to liquidity providers) and any Fee-on-Transfer Taxes, if applicable.
Note: Swapping via web interfaces may introduce additional permission structures and differ in execution behavior from using the Baptswap protocol directly. For more details, see What is Baptswap.
Swaps on Baptswap are executed against a pool of liquidity, not on a first-in-first-out basis like traditional order book trades.
Liquidity providers earn fees proportional to their capital commitment. Learn more about Fees on Baptswap.
Price impact is the change in execution price due to the size of the market order against available liquidity.
The relative value of assets shifts continuously during a swap, affecting the final execution price.
The amount of liquidity at different price points influences the price impact. More liquidity equals lower price impact, and vice versa.
The Baptswap interface provides real-time estimates of price impact and warnings for unusually high impacts.
Slippage refers to price changes that occur while a transaction is pending.
The amount of gas fee influences the transaction's execution speed. Lower gas fees can lead to longer pending times and potential price changes.
Users set a slippage range within which the transaction will execute. Transactions fail if the execution price falls outside this range.
Some tokens on Baptswap may have additional fees. Transactions may fail if the slippage is set too low to cover:
Price Impact Percentage
Individual Token Fees (for both X and Y tokens)
Network Gas Fees
Expired Transaction: Cancels a swap pending longer than a predetermined deadline to avoid price changes over extended periods.
INSUFFICIENT_OUTPUT_AMOUNT: Protects against drastic unfavorable price changes. If the output amount deviates significantly from the estimated amount (beyond slippage tolerance), the swap is canceled.
By understanding price impact, slippage, and Baptswap’s safety checks, users can effectively navigate the swapping process. Remember to account for additional fees and network conditions to ensure successful transactions.
Need help with launching or migrating your token to Baptswap? Connect with us on Twitter or Telegram for assistance.
Proportional in this instance takes into account many factors, including the relative price of one token in terms of the other, slippage, price impact, Fee-on-Transfer and other factors related to the open and adversarial nature of Aptos. ↩
For information about liquidity provision, see the liquidity user guide. ↩
To learn more about Fee-on-Transfer tokens, see the Fee-on-Transfer page. ↩
The Baptswap interface informs the user about the circumstances of their swap, but it is not guaranteed.↩
