Uniswap is a leading decentralized crypto exchange that runs on the Ethereum blockchain. It uses a new type of trading model called an Automated Liquidity Protocol. It’s completely open-sourced, being built on the Ethereum Blockchain, and even allows users to list tokens on the exchange for free. Running on two smart contracts; and an “Exchange” contract and a “Factory” contract, they are programs that are designed to perform specific functions when certain conditions are met.
What is PAID?
PAID Network is an ecosystem DAPP that influences blockchain innovation to deliver DeFi fuelled SMART Agreements to make business dramatically more proficient. We permit clients to make their approach, to guarantee they Get PAID. Paid tokens act as a center utility within the PAID. From purchasing agreements to voting to lend and insurance; it has multiple uses.
How to buy PAID tokens?
PAID tokens are available on Uniswap. Here is a step-by-step guide on how to purchase them-
First, make sure you have the right contract address. It has a lot of imitators on Uniswap, pretending that their token is the genuine token on the trade.
On the section to the right, you will see a field set apart as “contract”, this is the location you are searching for.
- Open up Uniswap, go to SWAPS, and click on the “SELECT TOKEN” icon. You will be urged to input the token contract address that you got from step 1. Once the address is in the search bar it should automatically, bring up the correct PAID token.
- This next step is where most users have an issue. It is known as “Slippage Tolerance”. Slippage alludes to the contrast between the normal cost of exchange and the cost at which the exchange is executed. It can occur at any time but it’s highly volatile when market orders are used. To avoid this problem, adjust Slippage Tolerance to 5%.
Adjust “SLIPPAGE TOLERANCE” on the Uniswap app, locate the advanced transaction settings menu, it is on the upper right-hand side, which looks like a gear. Click on the setting symbol and you will be directed to the Transaction settings screen.
This is how it will look.
The default setting is 0.5%. Unless you want to execute your trade quickly, this tolerance isn’t high enough to complete the transaction. Click the custom field on the very right side, and input 5% for the slippage tolerance.
This should be enough to complete the transaction.
Now that the tolerance has been adjusted, go back to the main menu by clicking outside the transaction settings menu. You will now see that at the bottom, the slippage tolerance is set to 5%.
This is how it will show.
- And you’re done! As the new transaction settings are in place, you should now be able to carry out your trade for PAID tokens!
Now that you are successfully trading PAID tokens, here’s wishing you the best deals on the best projects out there!
Happy exchanging all!