Dexible
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FAQs
Answers to questions asked by the community!
Dexible Community:
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Q: Why can't I swap ETH?

A: Since ETH is not an ERC20 token, it does not offer a spend allowance feature. So in order to automate ETH swaps, we would have to take custody of ETH, which we will never do. We use WETH instead, and you can wrap ETH in-app by clicking "Get WETH." You can do the same thing on other networks like Polygon and Avalanche by wrapping Matic (wMATIC) or wrapping Avax (wAVAX).
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Q: Can anyone use Dexible? Or do you need to hold tokens?

A: There's no need to hold tokens, anyone can use Dexible. We take a flat fee in the highest-liquid token per round (~$5 per Avalanche/Polygon round, ~$14 per Ethereum round). You can see an estimation of the fees as well as the estimated gas costs in the quote outcomes section.
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Q: When does Dexible take custody of my assets?

A: It doesn't, Dexible is a non-custodial product—traders retain full control of their assets during orders.
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Q: How long will my order take to fill?

A: This is difficult to answer because it depends on the asset, the market, and your swap constraints.
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Q: Are Dexible's smart contracts audited?

A: The contracts have been audited by Solidified. See the code repo for a copy of the audit: https://github.com/buidlhub/dexible-contracts​
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Q: What is the difference between Dexible's market and limit orders?

A: Market order will execute each round at the current market price minus slippage. A limit order will make sure each round can match your specific price minus slippage
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Q: Why doesn't Dexible support trading for every token?

A: Dexible can’t accept immature tokens with limited liquidity.This is because Dexible works by extracting a fee from the highest liquid token, but this generally requires a consistent relationship between the two assets. More importantly, Dexible could be forced to pay network txn fees but receive an immature token in return—then that token could be rugged or lose all it's value and the Dexible bot can't reimburse itself for the txn fees already paid.
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Dexible is trying to prevent a case where two of these immature tokens are trading with one another. In the case of these tokens (either not enough holders to pass a certain threshold or not enough volume) the volatility of those assets could hamper Dexible’s algos, meaning both the trader and Dexible lose money from the trade.
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Q: Why didn't my order's fixed gas limit meet the market conditions, when clearly the gas cap I set is more than the current fast gas price?

A: Let's say you set your fixed max gas to 50 gwei and the current fast gas is at 47 gwei. It would seem like your order should have fired because the fast gas rate is lower than your specified rate. But Dexible requires a 10% buffer be applied to the fixed gas rate in order ensure that it can perform at least one speed up of the txn if it's stuck.
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In this case, the fast gas price would have to actually go down to 45 before Dexible would execute the round. Because of this, you should specify 10% more gas in your fixed amount to accommodate this requirement. It doesn't mean you'll spend that extra 10%; it's just a buffer in case there is a spike in prices and we need to speed things up.
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Q: Why does one swap with Dexible use more gas and fees than other Dex platforms like Uniswap or Matcha?

A: Dexible will never be cheaper than Uni for a single txn—that’s not the goal. Dexible isn't competing on minimizing fees, though minimizing fees is certainly better for both Dexible and its users. Dexible is focused on optimal price discovery and algo order conditionality, either waiting for specific price movements (limit or stop loss) or reducing large amounts of slippage for illiquid tokens. Not all liquidity sources are created equal. Some have plenty of liquid such that a single swap over 10k wouldn’t have much impact on the outcome. Others might have 8-20% impact on the output, because there isn’t enough liquid to support large trades. To get around the latter, people break up large swaps into multiple swaps and watch DEX dashboards to know when to execute the next swap. Instead of doing that, they can use Dexible to do it for them.
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Q: Why is Dexible gas fee so much higher than Uniswap even for a single swap?

A: Dexible's settlement contract is doing more work than Uniswap (thus using more gas). We have to confirm token balances, transfer tokens to our settlement contract, then settle on one or more DEXs through 0x Dex Aggregator, then confirm results, etc. We use a 600k Dexible gas limit as a high-mark in our quotes; we normally see gas using between 250k-530k in real life on Ethereum mainnet. Why the huge range? Because not all token implementations are the same. Tellor (TRB), for example, uses over 100k to transfer tokens while something like DAI uses a lot less gas points.
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Q: What's with the error "insufficient amount to cover costs"?

A: Since Dexible takes fees in the highest-liquid token, and those fees include estimate gas costs, it's possible that your trade is too small to reimburse the system for gas costs using just the tokens involved in the trade. A future version of Dexible might allow batching of smaller trades to minimize costs to small trades.
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Q: I have set the limit order. There is an active order. Do I need to stay connected with my wallet or Metamask till the order is executed? Can I disconnect from the Dexible app with Metamask, log out, and the order will still execute?

A: Correct, Dexible connects via the network. So long as the market meets your conditions (gas cost, price, etc), your transaction will go through. Enjoy your extra fee time!
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Q: How do estimates differ between different flexible order types?

A: Limit and Stop orders estimates will use your specified price in determining the total outcome. In the case of a Limit order, the price is fixed for each round. Stop, however, will convert to a market order as soon as the activation price is met and could result in a different overall output in the end.
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Market and TWAP orders will use spot pricing for each round.
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TWAP provides a delay between rounds to allow the market to recover. Dexible has introduced a price range for TWAP and Stop orders such that every round stays within a certain percentage of a base price.
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Q: What liquidity sources are tapped into for order execution?

A: We currently use the 0x Dex aggregator to find liquid across 20+ DEXs.
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Q: Are transactions mined by keepers? Or is the transaction fee taken care of by arbitrage opportunities?

A: Traders pay gas fees through the Dexible settlement contract. We charge a flat fee equivalent of ~$5 per Avalanche/Polygon round, ~$14 per Ethereum round) in the highest-liquid token in the trade. These fees will likely change over time.
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Q: Dexible makes money from the flat fee then? No subscription fee planned?

A: Correct. This may change in the future.
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Q: Is Dexible's code open? How do users confirm the contract won't have access to user tokens other than intended behavior?

A: Totally open, audited, and verified on Etherscan. The Github repo is https://github.com/buidlhub/dexible-contracts See here: https://etherscan.io/address/0xad84693a21e0a1db73ae6c6e5aceb041a6c8b6b3#code​
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Q: Say there's better price/liquidity in TOKEN-DAI pair than TOKEN-ETH pair, will Dexible choose the DAI pair automatically?

A: Dexible will only trade the pairs you specify in your order. Dexible does not find alternate output tokens with a higher value.
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Q: Say I'm performing a TWAP order over 72+ hours and prices are changing, does Dexible dynamically size the rounds?

A: Dexible does not currently dynamically size the rounds—but this is an intended addition.
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Q: How does setting gas work?

A: You can set your gas preferences to either be Relative Fast gas rates or set a Fixed capped gas. Dexible will either use the current fast rate if your strategy is set to "relative" or it will wait for gas prices to meet your fixed gas cap before submitting each round. Using this can help you save money on orders by having multiple conditions match before executing.
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Q: Will the transaction originate from my wallet address when people check Etherscan?

A: No, but your wallet address will show up as a recipient of output tokens. Our relay submits transactions and gets reimbursed for its fees once the transaction completes. Dexible is rewarded fees and gas-reimbursement fee tokens to pay for relay operations. The "From" address will be the relay address and an internal transfer will show your wallet receiving tokens.
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Q: Why did my swap get canceled or paused?

A: Dexible errs on the side of caution and will cancel or pause orders when errors are encountered or when more than 30% of total rounds incur failed transactions. This protects the trader from runaway fees. There are generally a few reasons why an order gets canceled or paused:
  1. 1.
    Insufficient token balance.
  2. 2.
    Insufficient spend allowance.
  3. 3.
    Some internal error in our infrastructure.
  4. 4.
    Excessive slippage on-chain and too many failed txns.
In some cases, errors in processing will cause an order to cancel. Rather than attempt to resubmit over and over and risk over-swapping your assets, the order is paused for a reason. Please forward those reasons and order IDs to us so we can improve the processing.
In all cases, if you provide a contact for your account, you will receive a notification with the reason for cancellation.
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Q: Why is it when I try to customize the number of swaps, that the new count is not always applied to my quote?

A: Dexible sizes orders based on the most-profitable outcome for each round. It can also limit the size of each round based on the number of swaps you tell it to execute. For example, if you were trading 100ETH for MATIC tokens, and specified that it should use 10 rounds or swaps, Dexible assumes that no round should be MORE than 10 ETH. But as it tests different size inputs it might determine that at given liquidity levels, 20 ETH is your most profitable input size after including fees, slippage, and price impact. In that case, it will set the number of swaps to 5 because that is the most profitable outcome. Adding any additional round would incur more fees and thus be less and less profitable.
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Q: Is Dexible going to operate without a token? Will it implement token-based access or a monthly fee?

A: It is not out of the question Dexible will introduce a token and that token will unlock "pro" features.
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Q: If I approve a contract to allow it to spend my ERC20, can that be used to seize my assets or spend without my permission?

A: Any address that is “approved” can spend your tokens up to the allowance you give it. It doesn’t need your permission. That’s what you’re giving it when you approve the spender.
Example: you already give your approval to apps like Sushiswap, Honeyswap, or TraderJoe.
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You have to trust the app you grant spend allowance to so you can minimize the spend allowance to protect yourself. So most people give “unlimited” spend limit to a DEX, and they're trusting that the DEX team won’t release a new version of the contract with the same address and steal all your funds. A source code review would reveal vulnerabilities—if those existed.
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Last modified 1mo ago
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Contents
Q: Why can't I swap ETH?
Q: Can anyone use Dexible? Or do you need to hold tokens?
Q: When does Dexible take custody of my assets?
Q: How long will my order take to fill?
Q: Are Dexible's smart contracts audited?
Q: What is the difference between Dexible's market and limit orders?
Q: Why doesn't Dexible support trading for every token?
Q: Why didn't my order's fixed gas limit meet the market conditions, when clearly the gas cap I set is more than the current fast gas price?
Q: Why does one swap with Dexible use more gas and fees than other Dex platforms like Uniswap or Matcha?
Q: Why is Dexible gas fee so much higher than Uniswap even for a single swap?
Q: What's with the error "insufficient amount to cover costs"?
Q: I have set the limit order. There is an active order. Do I need to stay connected with my wallet or Metamask till the order is executed? Can I disconnect from the Dexible app with Metamask, log out, and the order will still execute?
Q: How do estimates differ between different flexible order types?
Q: What liquidity sources are tapped into for order execution?
Q: Are transactions mined by keepers? Or is the transaction fee taken care of by arbitrage opportunities?
Q: Dexible makes money from the flat fee then? No subscription fee planned?
Q: Is Dexible's code open? How do users confirm the contract won't have access to user tokens other than intended behavior?
Q: Say there's better price/liquidity in TOKEN-DAI pair than TOKEN-ETH pair, will Dexible choose the DAI pair automatically?
Q: Say I'm performing a TWAP order over 72+ hours and prices are changing, does Dexible dynamically size the rounds?
Q: How does setting gas work?
Q: Will the transaction originate from my wallet address when people check Etherscan?
Q: Why did my swap get canceled or paused?
Q: Why is it when I try to customize the number of swaps, that the new count is not always applied to my quote?
Q: Is Dexible going to operate without a token? Will it implement token-based access or a monthly fee?
Q: If I approve a contract to allow it to spend my ERC20, can that be used to seize my assets or spend without my permission?