What a swap actually does
A swap exchanges one token for another using onchain liquidity, without an intermediary holding your funds. You approve the trade from your wallet, and the tokens settle onchain. Because it is a real transaction, it uses gas and cannot be undone once confirmed.
Slippage and price impact
Slippage tolerance is the maximum price movement you will accept between quote and execution. Price impact reflects how much your trade itself moves the price, which grows on low-liquidity tokens. Setting slippage too high can lead to a worse fill, so review both before confirming.
Review before you confirm
Check the tokens, the amount you send and receive, the network, the fee, and any approval the swap requires. If the receive amount looks far off from a fair market rate, cancel and investigate rather than confirming under time pressure.
Watch for risky tokens
Some tokens are designed to trap buyers with hidden fees or transfer restrictions. Stick to well-known assets, verify token contracts, and be skeptical of tokens promoted through unsolicited messages or fake airdrops.