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FAQs
Answers to questions asked by the community!

Q: Can anyone use Dexible? Or do you need to hold tokens?

A: There is no token associated with this project and anyone can use it.

Q: How much does it cost to use Dexible?

Read here:

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." We have use a wrapped version of the native token of that chain, so you do the same thing on other networks. Use WMATIC, WAVAX, WBNB, & WFTM.

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:

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.

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.

Q: What liquidity sources are tapped into for order execution?

A: We currently use the 0x Dex aggregator to find liquid across 57+ DEXs. on 5 chains.

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.
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. Dexible considers mature tokens any token that is listed on CoinGecko with at least 500 holders.

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.

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. Though minimizing fees is certainly better for both Dexible and its users, Dexible isn't competing on minimizing fees. 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.

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.

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.

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.
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.

Q: What are the differences between _____ and ______ order types?

A: Check out Comparing Order Types.

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!

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.
Market and TWAP orders will use spot pricing for each round.
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.

Q: What liquidity sources are tapped into for order execution?

A: We currently use the 0x Dex aggregator to find liquid across 57+ DEXs. on 5 chains.

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.

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.

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

Q: Dexible seems to be showing me impossibly good execution on market orders because I can literally attempt to swap more tokens than are circulating and it still doesnt give me the appropriate slippage, what is the deal?

A: Quotes are generated using the 0x API, which doesn’t take into consideration existing liquidity limitations in their calculations. Our infrastructure isn’t touching historical volume or liquidity when giving you a quote, it’s based on the present conditions and what you would need to do be that execute thousands of orders.
Basically estimates are just showing you how the order would roughly break down for an order of that size.
This is why we’re making internal improvements to our SOR a priority, for more smarter, faster, and more accurate quotes.

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.

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.

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.

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.

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.
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.

Q: Does Dexible have a token?

A: There is no token nor are there plans for a token associated with the platform.
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Outline
Q: Can anyone use Dexible? Or do you need to hold tokens?
Q: How much does it cost to use Dexible?
Q: Why can't I swap ETH?
Q: Are Dexible's smart contracts audited?
Q: When does Dexible take custody of my assets?
Q: How long will my order take to fill?
Q: What liquidity sources are tapped into for order execution?
Q: Why doesn't Dexible support trading for every token?
Q: How does setting gas work?
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: 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: What are the differences between _____ and ______ order types?
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: Will the transaction originate from my wallet address when people check Etherscan?
Q: Are transactions mined by keepers? Or is the transaction fee taken care of by arbitrage opportunities?
Q: Is Dexible's code open? How do users confirm the contract won't have access to user tokens other than intended behavior?
Q: Dexible seems to be showing me impossibly good execution on market orders because I can literally attempt to swap more tokens than are circulating and it still doesnt give me the appropriate slippage, what is the deal?
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: Why is it when I try to customize the number of swaps, that the new count is not always applied to my quote?
Q: Why did my swap get canceled or paused?
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?
Q: Does Dexible have a token?