Solana offers very fast and affordable swaps that enable you to exchange tokens quickly. Exchanging your token from Wrapped Bitcoin (BTC) to USDT takes a matter of seconds and network fees are less than one cent.
Avana Wallet enables you to swap over 500 tokens on the Solana network. "Swappable" tokens have a swap icon next to them in the Tokens List.
Avana Wallet created a sleek swap dashboard so you can control the parameters of your swap order. There might seem like a lot of info to start, but you will quickly realize that it is easy to navigate and quite simple to use. The dashboard enables you to execute your swaps at the best prices.
- Token: The token indicates which token you will swap from or swap to. You can click on this button to change it.
- Swap From Amount: This is the amount you will swap.
- Swap To Amount: This is the estimated amount you will receive when you swap. Markets are always changing, and the actual amount you will receive can vary.
- Slippage Tolerance: This is a parameter that indicates how much the price can move before to complete the order. For instance, if you set the slippage tolerance to 1% and the price moves by 0.5% by the time you submit your order, the order execute at that new price. If the price moves by 1.5% then it will not execute because the new price difference is greater than your slippage tolerance.
- Rate: This is the exchange rate you will receive. You can invert it by clicking on the arrows next to the label.
- Price Impact: This is the amount that you order will change the market price. Large orders can move market prices because they remove enough liquidity that the market price changes.
- Min Received: This is the absolute minimum amount of the
Swap Totoken that you will receive given your
Slippage Tolerancesetting. You will most likely receive more than this amount under most circumstances.
- Fees: Fees include network fees, fees paid to exchanges to facilitate the transaction, and in some instances a referral fee received by Avana Wallet. Fees vary by transaction, so you can click on the info icon to see more.
You will be able to place an order once you have filled in all required information. When you click "Submit" then order will be routed to the network and Avana Wallet will automatically confirm the transaction for you. Typically swaps take about 5 to 10 seconds to confirm. Sometimes confirmations can take longer when the network is congested.
The swap quote automatically refreshes every 10 seconds to make sure you have the most recent data and exchange rates.
Slippage Tolerance Setting
Many people ask "What's the right slippage tolerance setting?" - the answer is it depends on the person and circumstance. You can use a lower slippage tolerance for tokens that are traded frequently and have many market participants (BTC, USDC, etc). You might need to use a higher slippage tolerance for tokens that do not trade frequently.
Market conditions are also a factor. At times markets can experience larger moves - in these instances you will need to increase your slippage tolerance.
Avana Wallet enables you to set the slippage tolerance up to 15%. In most instances for liquid tokens you can set it between 0.5% and 2.5%.
Swaps can fail for reasons including:
- Market prices moved beyond your
- Liquidity from the market was removed (this means that amount offered was reduced or removed by the account offering the amount)
- Network congestion can prevent the transaction from processing
Avana Wallet uses Jupiter to power its swap transactions. Jupiter combines the liquidity from many ecosystem defi apps and routes your order to the app offering the best price.
Jupiter routes your order to the exchange with the best price ("liquidity provider"). Exchanges include: