Exact-in swap versus exact-out swap

Veax supports two types of swap operations: exact-in and exact-out.

Exact-in swap

The exact-in swap is responsible for sending the exact quantity of tokens. In this case, Veax charges the exact quantity of tokens you enter, while the quantity of tokens you can receive is not final and may vary. [TODO: should we describe why?]

The exact-in swap is executed when you enter the token quantity in the //SEND field of the //SWAP window. In this case, the //SEND field changes its name to //SEND EXACTLY, and //RECEIVE changes to //RECEIVE APPROXIMATELY. In //RECEIVE APPROXIMATELY, Veax automatically calculates and displays an approximate quantity of tokens that you can receive.

Exact-out swap

The exact-out swap is responsible for receiving the exact quantity of tokens. In this case, you receive the exact quantity of tokens you enter, while the quantity of tokens you send is not final and may vary because of several factors, such as price slippage, transaction time, and gas fees.

The exact-out swap is executed when you enter the quantity in the //RECEIVE field of the //SWAP window. In this case, the //RECIEVE field changes its name to //RECIEVE EXACTLY, and //SEND changes to //SEND APPROXIMATELY. In //SEND APPROXIMATELY, Veax automatically calculates and displays an approximate quantity of tokens that you need to send.

For information about how to swap tokens, see Swap tokens.