Placing Trades

Trade settings

The settings menu is optional. If you do nothing, the app uses the current safe defaults: 1.0% slippage tolerance and a 5 minute transaction deadline.

• Your trade settings are saved locally in your browser for later sessions.
• The protocol can cap slippage even if you choose a larger number in the UI.
• Buys use a maximum cost limit. Sells use a minimum payout limit.
• Higher slippage gives trades more room to execute, but increases the chance of a worse fill.

Buy vs sell

Buy orders convert WBASED into shares. Sell orders return WBASED and reduce your shares. Both actions are priced by the curve module at the time of execution.

Deadlines

Every trade includes a deadline to protect you from stale prices. If the deadline is in the past when the transaction executes, the trade will revert. The default launch setting is 5 minutes, but you can widen or tighten it from the settings menu.

Longer deadlines give your transaction more time to land, but they also increase exposure to stale quotes if the market moves while you wait.

Slippage and price impact

Trades are executed with a maximum cost (buy) or minimum payout (sell). If the curve moves beyond that limit, the trade will fail.

• Large trades create more price impact.
• Thin liquidity increases slippage and rejection risk.
• Launch default is 1.0% slippage to reduce unnecessary trade reverts.
• 0% slippage is still available if you want exact-quote execution or better.
• A protocol slippage cap can override larger custom settings.
• Use break-even after fees to judge whether your size still makes sense.
• Use pool payout details only to understand current settlement shape, not current market price.

For fee routing and the difference between price-aligned trading math and payout math, see Fees & Payouts.

Cooldowns and protections

The protocol enforces a per-block trade limit and a short cooldown between opposite-direction trades. This reduces MEV and protects market integrity.

Common trade failures

• Market is not ACTIVE or trading has closed.
• Deadline expired before execution.
• Slippage or exposure limits exceeded.
• Insufficient WBASED balance or allowance.
• Trade violates curve validation rules.