Token Swapping Basics on SundaeSwap

As of the time of this writing, the following wallets are compatible with the SundaeSwap platform:

• Ccvault
• Nami

Once you connect your wallet to the SundaeSwap interface, you're set to begin swapping tokens! To avoid an "Insufficient Balance" error, always ensure you have an additional 10 to 15 ADA as collateral on top of the amount you wish to exchange. For instance, if you plan to purchase 100 native $MELD tokens, make sure your wallet holds enough ADA to cover the purchase and the collateral needed for transaction fees.

Important Note: All transactions on the Cardano network require ADA to cover the associated fees, so ensure you have sufficient ADA in your wallet.

Selecting Tokens

To initiate a swap, start by selecting the token you wish to exchange. For example, if you're converting ADA to SUNDAE, choose ADA in the upper input field and then select SUNDAE as your desired output token. You can also search for the target token by its name, symbol, or by pasting its policy ID.

Entering Amounts

Next, specify the amount you want to swap. You can either input the number of tokens you want to exchange or the amount you wish to receive.

• For a Specific Input Amount: If you wish to swap 1000 ADA for SUNDAE, enter "1000 ADA" in the first field. The interface will then calculate the corresponding output amount based on market conditions.
• For a Specific Output Amount: Conversely, if you want to receive 1000 SUNDAE, enter this amount in the second field, and the system will automatically determine how much ADA is required.

Reviewing Your Swap

Before finalizing your transaction, a summary window will appear, breaking down the details of your trade:

• Expected Amount: The anticipated amount you'll receive once the swap is executed.
• Liquidity Provider Fee: SundaeSwap charges a fee for all trades based on the liquidity pool used, with tiers of 1%, 0.3%, and 0.1%. This fee incentivizes liquidity providers, ensuring trades can be facilitated.
• Route: This details the pools your assets will traverse to achieve the optimal swap price.
• Minimum Received: The least amount of the output token you'll receive, determined by market price and your set slippage tolerance.
• Scooper Fee: A fee for Scoopers who process your order on the blockchain.

Finalizing Your Swap

Click on "Order Swap" to submit your transaction. Patience is key; during the early stages of this blockchain, transactions may take hours or even days to complete. For instance, my last transaction took 18 hours.

That's all there is to it! Happy swapping! ✔️

If you feel inclined to support my work with native tokens, you can use the following address:

addr1q8czqnw4f9rxpkxje2g539re85c3ct6y23mpmkw2rencaveuktychu0ev6u58zn5m0h7zrrkj2pfewau42sj577nsggspg4l85

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Disclaimer

The information provided in this guide should not be interpreted as financial advice or recommendations. It is your responsibility to verify and make your own trading decisions. Always trade with risk capital—funds that, if lost, will not impact your lifestyle or financial commitments. The author is not liable for any losses incurred from the use of the trading platforms mentioned.

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