FAQ

1. What is 1.3% service fee for?

A:Liquidity providers (LPs) will receive a 1% transaction fee and IERC DAO will receive 0.3%.

2. Is it possible to use $ethi as gas during the swap?

A: Transaction fees, commonly referred to as “gas”, still require the use of $ETH (Ethereum) rather than $ethi. Additionally, service fees are paid in $ETH.

3. How to add liquidity of a token pair at IERC Swap?

A: Connect your wallet and enter the amount of $ethi you want to add to the liquidity pool and the corresponding amount of $ETH required will pop up. Note that IERC Swap requires you to add an equivalent value of both tokens. For example, if you add $100 worth of ETH, you also need to add $100 worth of $ethi. After successfully providing liquidity, you can see the total value in $USDT of your total liquidity and the percentage (%) of your liquidity accounting for the total amount.

4. Can users create their own liquidity pools when we launch Swap?

A: The first phase of the swap function only supports the exchange of $ethi and $ETH inscription pairs. Other inscription exchange pairs will be onboard at a later stage.

5. Why do users need to lock $ethi before swapping for $ETH?

A: When converting inscriptions to ERC20 tokens, inscriptions need to be locked to the platform’s custodial address. If the swap action is canceled, the inscriptions need to be unlocked. When swapping $ETH for $ethi inscriptions, users receive the inscriptions directly.

6. Does LP earn a percentage of the service fee when they add liquidity into the pool?

A: Liquidity providers (LPs) will receive a 1% transaction fee. When providing liquidity, it is necessary to add an equivalent amount of ethi and ETH according to the current ratio of the pool (inscriptions need to be locked), and obtain LP certificate tokens. When removing liquidity, you will receive an equivalent amount of both types of tokens and additional transaction fees according to your share.

7. What is slippage tolerance in IERC Swap?

A: Slippage tolerance refers to the maximum percentage difference between the expected price of a trade and the actual price at which the trade is executed. It accounts for price fluctuations that can occur due to market volatility between the time the trade is initiated and when it is finalized. Setting a slippage tolerance helps ensure that trades are executed within an acceptable range of the expected price, protecting users from significant price deviations. The slippage tolerance is set at 0.5% by default, and users can change it to customized numbers.

8. What are the main features of the transaction page?

A: There is Status for swap success or failure, Date&Time, Block Number, Type for Buy or Sell Amount of inscriptions, Unit Price in $USDT, Total Value in $USDT, Address conductor, TNX Hash traceable to etherscan, and a price chart.