ONUS has added a feature to customize slippage for some existing tokens on the application beginning December 22, 2021, to assist customers in being proactive about slippage when placing exchanges. Customers will be able to adjust the rate to their liking in addition to trading with the default slippage.
What is slippage?
In the financial sector, slippage is defined as the difference between the price at which an order is placed and the price at which it is executed. Slippage is expected when you exchange a digital asset during a period of high volatility (the exchange rate is constantly changing).
When conducting exchange on ONUS, the system will use the slippage for each asset by default. As a result, if the price difference after buying exceeds the original slippage, the transaction will be canceled to reduce the risk of a significant loss for investors.
For example, you buy ONUS tokens for 16,000 VNDC and 1% slippage (equivalent to 160 VNDC). After converting, your cost price will not exceed 16,160 VNDC. If the higher cost price, the system will automatically cancel the transaction.
Slippage customize feature
To help users proactively manage risk and customize slippage, ONUS decided to add a slippage adjustment feature. It allows investors to set the slippage they are willing to accept and easily swap successfully.
How to custom slippage? A step-by-step guide
Step 1: After clicking Exchange, the screen will display your transaction details, including the slippage set default by the system
Step 2: Click Custom and enter the Slippage Tolerance
Step 3: Click Choose to complete the adjustment
Step 4: Refresh trade and swipe to exchange