What is HyperSwap?
HyperSwap is a completely decentralized cross-chain interoperable protocol for creating liquidity and swapping of Arbitrum tokens on the Arbitrum Chain.
HyperSwap eliminates the need for navigating through different platforms to simply swap tokens. It also eliminates the need for intermediaries. HyperSwap is easy to use, fast, efficient, secure and decentralized.
Read more about HyperSwap HERE.
To use HyperSwap, the first thing you need is a supported Arbitrum token. If you have that ready, head over to the HyperSwap Mainnet and create a profile to start using the protocol to add liquidity and swap tokens.
Being an automated liquidity protocol, HyperSwap has template smart contracts that determines a standard way to make liquidity pools as well as corresponding compatible markets.
Each pool is defined by a smart contract, as well as a few functions to enable swapping tokens, adding liquidity and more. To maintain the curve along which trades can happen, each pool uses the function x*y=k.
The pool tracks liquidity reserves and updates it every single time a trade occurs. This automated balance feature enhances the trading of tokens on HyperSwap without requiring a counterparty on the other side.
Read the HyperSwap documentation for an in-depth explanation.
How to connect a wallet to HyperSwap?
You can connect your cryptocurrency wallet to HyperSwap in these few easy steps. View the guides below for Mobile and Web browsers.
1 Open the HyperSwap web app
2. Select the Connect Wallet icon
3. Select from the available wallets
4. If your wallet is not listed, select Wallet Connect to choose from the list of supported wallets.
1 Open the HyperSwap web app
2. Select the Connect Wallet icon on the top right corner of the page
3. Select from the available wallets
4. If your wallet is not listed, select WalletConnect to choose from the list of supported wallets. You can select the Wallet by name, or scan the QR code in your mobile wallet app.
What is a gas fee?
A gas fee is the cost of your cryptocurrency transaction that you pay to the network's miners. A network fee is another name for this charge.
The blockchain requires a network fee for each transaction. This is due to the fact that miners verify and process transactions using their own computers rather than depending on a centralized authority.
The amount of each token in a pool determines the prices. Meanwhile, the smart contract maintains a constant using the following function: x*y=k. In this case x = token 0, y = token1, k = constant.
A certain amount of one token is removed from the pool during a trade, as well as the amount of the other token. To maintain K, the balances held by the smart contract are adjusted during the execution of the trade, hence changing the price.
How do I swap tokens?
You can swap your token on HyperSwap in these few easy steps:
1 Select the token you wish to swap
2 Select the ‘Select a token' icon and browse the list to find your token. You can also search by token name or token contract address.
3 Enter the amount that you wish to swap. You can enter either your desired input amount or output amount.
4 Approve the HyperSwap Auto Router to swap your token.
If this is your wallet’s first time trading this token with HyperSwap, you need to approve the token first.
5 Review and Confirm your swap.
Click the 'Swap' button to view a preview of your swap.
What is Price Slippage?
Price slippage is the change in token price caused by the overall market movement.
Price slippage is defined as the difference between the price you anticipate receiving following a swap and the price you actually receive.
The minimum amount you receive from a trade is determined by:
1 Market Price
You will get the market price given based on the auto slippage setting when you trade using the HyperSwap web app.
In order to provide you with the optimum swap outcome, the auto slippage percentage (%) will be configured to be between 0.1% and 25%, depending on the network cost and swap size.
Your transaction could revert (fail) if your slippage threshold is set too low. This may result in network expenses even before a swap is finished.
When you switch, you can receive fewer tokens than you anticipated if your slippage is set too high.
How to disconnect a wallet from HyperSwap?
To disconnect your wallet from HyperSwap web app, follow these steps:
1 Open HyperSwap on your mobile or desktop browser
2 Select Wallet in top right corner
3 Select Disconnect Wallet icon
What is Expert Mode?
Expert Mode allows experienced users to make high slippage trades
When trading tokens, high slippage trades frequently lead to a lower rate of exchange, which lowers the return. Expert Mode may be used by seasoned traders who are confident that, despite potential losses, they can generate a high rate of return from a deal.
Here are the steps to turn on expert mode AT YOUR OWN RISK:
1 Connect to HyperSwap
2 Select the gear icon on the top right corner
3 The last option in the dropdown menu is Expert mode. Select the toggle icon to activate
4 A warning sign will appear - select "Turn On Expert Mode."
5 A popup will appear asking you to manually type “I Confirm”. Type “I Confirm” and select "OK" to activate Expert Mode.
Prices are aggregated from different sources on websites that show token prices, like arbiscan.io or coinmarketcap.com. These sources could be inaccurate when it comes to volumes, therefore it’s important to always check the exchange rate on HyperSwap before making a swap. .
If you have a difficult time finding a token in the default list, look for the token address using etherscan; copy and paste that address into the search field.
Any Arbitrum tokens from the Arbitrum ecosystem are compatible with HyperSwap. If you want your project to be searchable in HyperSwap’s interface, share a link to your token using query parameters. Once loaded via a link, the token will be added to the interface and will be available to trade.
For any trade that you make on HyperSwap, there will be a Gas fee levied, that carries the execution of trade. Read more about how Gas Fee works HERE.
You can use these tools to check https://www.zapper.fi/dashboard and https://zerion.io/. However, Spherium does not guarantee the information provided on these sites and they are subjected to your own research.
There is no guarantee you can get them back. HyperSwap has no control over the token pair contracts’ functionality. As a result, any tokens accidentally transferred to the token contract itself are lost forever. We request all users to double check the address before transferring or swapping any token on the platform.
HyperSwaps information page reads the details of new tokens when they’re added to the subgraph. There may be some circumstances where an old symbol or name isn’t updated if the token was updated with a proxy contract. A guide to fixing this yourself is forthcoming. In the meantime, reach out to us with the details on our developer discord.
The router is programmed to fail the transaction if a swap takes more than 20 minutes. This is to protect the users from extreme swings in prices that can occur while the transaction is pending.
If this happens, your tokens will still be in your wallet, but the gas fees paid are not recoverable. To avoid this from happening, we recommend you use a high enough gas price to have your transaction mined in under 20 minutes. This usually falls under “Standard” or “Fast” in most gas price calculators.
How do I make sure my transaction is successful?
There are several ways to ensure a successful transaction on HyperSwap
Limits on slippage:
The default slippage limit is specified via the HyperSwap interface. The slippage limit is the difference between the output you anticipated and the output that actually occurred at the time of your swap. The transaction will fail if the real output deviates further from your predefined slippage.
You can change the slippage limitations in "Transaction settings" at your own risk
You won't be able to complete a transaction if you don't have enough of your network's native token to pay the network fees. This network cost is necessary to complete each transaction.
You can increase your network's native token purchases, change the quantity of your swaps, or wait for network fees to decline.
How can I contact someone for support?
Please note that we aim to respond to most issues within 24-48 hours and urgent ones within 1-2 hours.
You can also message us on Twitter @SpheriumFinance, our customer service will try to respond as swiftly as possible.