Once you’ve gotten your wallet connected to the SundaeSwap interface, you’re ready to swap tokens!
Note: ALL Cardano transactions need to be paid using Cardano (ADA). You will need enough Cardano (ADA) in your wallet to pay for the transaction fees set in place by the blockchain.
1. Select tokens.
Select the token you want to swap. For example, if you want to swap ADA to SUNDAE, select ADA in the upper box. Then, select the token you wish to receive upon the swap. In this case, select SUNDAE. You also have the option to search for your target token using its name, symbol, or even pasting its policy ID.
2. Enter the input or output amount.
Then, enter the amount that you wish to swap. You can either enter how many tokens you wish to convert, or how many tokens you wish to receive in the box below.
If you want to sell a specific input amount
The following figures are for demonstration purposes: If you want to switch 1000 ADA to receive SUNDAE, enter your input amount (e.g. 1000 ADA) in the first input field. The interface will calculate the output amount (the amount that would be received) based on market price, liquidity pool depth, and other factors.
If you want to buy a specific output amount
The following figures are for demonstration purposes: If you want to receive 1000 SUNDAE, enter 1000 SUNDAE in the second input field. The interface will automatically calculate how much ADA is required to make a successful swap to 1000 SUNDAE.
4. Review your swap
Before you officially submit your transaction to the blockchain, a pop-up will appear, giving you a detailed breakdown of your trade.
Expected amount: this amount is what you, the end-user, can expect to receive once you submit your swap to the blockchain.
Liquidity Provider fee: the SundaeSwap protocol charges a specific fee on all trades, depending on which liquidity pool your swap is going through. There are three tiers of pool fees: 1%, 0.3%, and 0.1%. The liquidity provider fee incentivizes individuals to add liquidity to pools, making trades possible and SundaeSwap a functional protocol.
Route: a route entails the pools your assets go through in order to achieve an optimal price for your swap.
Minimum Received: this is the minimum amount of the output token you may receive from the trade. This value is determined by the current market price, as well as the slippage limit setting you have previously set before you proceeded with the trade. You can change your slippage tolerance by pressing the settings cog on the swap panel.
Scooper Fee: the SundaeSwap protocol charges a Scooper processing fee, which is used to pay Scoopers for submitting your order to the blockchain.
5. Submit your swap by clicking "Order Swap"!