Skip to main content

Swap Tokens

A swap exchanges an exact input amount for an estimated output amount. Raphael's router compares eligible pools and multi-hop paths before selecting a route, so a single trade may travel through more than one pool on its way to the best executable outcome.

Swap flow​

  1. Select the token you want to sell.
  2. Select the token you want to receive.
  3. Enter an amount.
  4. Review the quote, route, price impact, minimum received and network fee.
  5. If required, approve the router to spend the input token.
  6. Submit the swap and wait for confirmation.

Quote vs execution​

A quote is an estimate based on current onchain state. The final result may differ, because pool reserves can change between the moment you see a quote and the moment your transaction executes.

Minimum received applies your selected slippage tolerance to the quote. If execution would return less than that minimum, the transaction reverts instead of completing at a worse price. This is your primary protection; review it before signing.

Price impact and slippage​

  • Price impact is the price change caused by your own trade relative to the pool's current price. Large trades in shallow pools move the price against themselves.
  • Slippage is the permitted difference between the quote and the execution.

Increasing slippage may make execution more likely, but it also accepts a worse outcome and increases exposure to adverse transaction ordering and MEV. Prefer realistic tolerances over generous ones.

Token approvals​

ERC-20 tokens normally require an approval before a router can transfer them. Prefer an exact or limited approval where the interface supports it, and revoke approvals that are no longer needed. An approval is a standing permission, not a one-time event.

Imported tokens​

A symbol or name is not proof of identity. Anyone can deploy a token named after anything. When importing a token, compare its contract address with an authoritative issuer source or the official Robinhood Chain token registry.

warning

Never select a token solely because its name or logo looks familiar. The contract address is the only identity that matters.

Before larger trades, read Safety and Risks.