In-app swaps are now available for EVM chains! If you are facing an issue with the third-party DEX, we suggest you reach out to them. This article contains FAQs for the in-app swapper (for Ethereum, Polygon, and Solana networks)
- How do I perform a swap with Phantom?
- Easy! If you have ETH, Matic, SOL or other tokens already in your wallet, click on the swap icon at the bottom center of Phantom. Select the token you are swapping from and then the one you want to swap into. Also, make sure you have enough of the network's token for the network fee (ETH tokens on Ethereum, Matic on Polygon, SOL on Solana).
- What is a swap provider?
- Phantom has a built-in swapper system. The swapper aggregates liquidity from multiple decentralized exchanges. We call these underlying dexs swap "providers" as they are the provider of the liquidity at the time of the swap.
- What are the fees?
- Phantom charges a flat 0.85% fee for searching and offering the best pricing available for most swaps. To learn more visit https://phantom.app/fees There are also network fees associated with any transaction done, including swaps.
- What is slippage?
- Phantom uses the default setting of slippage limited to 0.5%. What this means is if the price of the swap varies greater than 0.5% from the price presented to you, the swap will fail to prevent you from losing value.
- What is price impact?
- Price impact is when the total value given decreases as the swap amount increases, if the liquidity provided on the dex provider isn't large enough. What this means at the end of the day is you may receive tokens at a worse price than what the market rate is. So you should always double check the price quoted to you, and that the impact is not higher than what you are comfortable with.