💡FAQ

Swap

What’s new in Exchange V3?

• Concentrated liquidity - Liquidity is focused on the most actively traded price ranges, resulting in:

  • Reduced trading slippage for traders

  • Potentially higher fee rewards for liquidity providers

• Flexible Trading Fees - Liquidity providers can select from multiple trading fee tiers when creating liquidity pairs or adding liquidity.

• Customisable price range - Providers can define specific price ranges for their liquidity, optimizing capital efficiency.

• Non-fungible liquidity positions - Each liquidity position is uniquely identified based on its configuration (e.g., price range), allowing users to manage multiple positions within the same trading pair but with different settings and liquidity amounts.

• Built-in limit order - Advanced users can leverage customizable price ranges to create effective limit orders, automatically converting assets when the price reaches the target.

Can I add my own tokens to Exchange V3?

Everyone can create liquidity pools by depositing liquidity on V3.

However, the following tokens are currently NOT supported:

• Fee-on-transfer tokens

• Rebase tokens

For these token, please do NOT add liquidity on Exchange V3. Your assets may stuck in the liquidity position.

How come my transaction won't go through?

SummitX is a DeFi application such that it interacts with the wallet to complete on-chain transactions for swapping, creating LPs, staking in farms and pools, etc.

Gas Fees

First and foremost, ensure you have enough ETH to cover the gas fee for your on-chain transactions. Gas fees fluctuate based on network activity—when the queue is congested, higher fees may be required to process your transaction. On the Basecamp Network, gas fees typically range from a few cents to a dollar (USD) in ETH. Learn more about gas fees here.

Transaction Fees

If your swap still isn't going through and you're seeing an error prompting you to adjust the slippage, check whether the tokens you're trying to swap have any transaction fees or restrictions.

On Basecamp Network, it's common for tokens to include a transaction fee in their smart contracts. These fees are often used for burning, treasury funding, or other mechanisms in fair launch projects.

Depending on the token’s fee structure:

• Inclusive Fees: A portion of the swap amount is deducted and sent elsewhere, reducing the expected output.

• Exclusive Fees: Additional tokens may be required from your balance to cover the fee, increasing the input amount.

These fees impact the transaction's input and output amounts, which could prevent the swap from meeting the required conditions, causing it to fail.

Swapping with Transaction Fees

Before swapping any tokens, visit their official website to check whether they have a transaction fee mechanism (often referred to as a tax by many projects).

If a transaction fee applies, set an appropriate slippage tolerance to accommodate it. For example, if the token has a 5% transaction fee, your slippage should be at least 5% plus the normal trading slippage, depending on your trade size and the token's liquidity—typically around 5.5%-6%.

In some extreme cases, including potential scams, certain tokens may:

• Block most or all transfers on-chain

• Restrict selling to specific addresses

If this happens, swapping the token successfully may be impossible. Always research the token beforehand and be aware of any fees or restrictions!

What is split routing?

In Swap V3, your trade may be split across multiple routes to ensure the best possible rate.

To see detailed routing information, tap the “v” button in the “Route” section to expand and view the specifics.

Learn more here.

How to customise or disable certain liquidity sources?

The Swap V3 leverages liquidity from SummitX V3 and V2 to optimize trading routes. However, you have the flexibility to customize or disable specific liquidity sources if you prefer not to route your trade through them.

To adjust routing settings:

• Click the “Customize Routing” button when viewing a trade route.

• Or tap the ⚙️ settings button in the top right corner of the Swap interface and select “Customize Routing.”

In the Customize Routing pop-up, you can:

• Select which liquidity sources to use.

• Disable multihops entirely.

⚠️ Note: Disabling multihops may increase slippage or result in a worse trading rate for certain pairs. Adjust settings carefully.

Learn more here.

Liquidity

What are fee tiers and how to pick the correct one?

In Exchange V3, when providing liquidity, you can select from multiple trading fee tiers (0.01%, 0.05%, 0.25%, and 1%) for the same token pair.

For example, if you're adding liquidity to ETH-USDT, you might see different fee options:

• A 0.25% fee tier, meaning a 0.25% trading fee applies to each trade.

• A 0.05% fee tier, which offers a lower fee, potentially attracting more trading volume.

There is no single “correct” fee tier—it depends on the token pair.

• Higher fee tiers (e.g., 0.25% or 1%) are generally better for more volatile tokens, helping compensate for impermanent loss.

• Lower fee tiers (e.g., 0.01% or 0.05%) work well for stablecoins or low-volatility assets since they experience smaller price fluctuations.

When selecting a token pair, the “Add Liquidity” interface will automatically suggest the most popular fee tier for you.

Why two of my deposit tokens are not equal in USD value?

In Exchange V3, the USD value of assets in a liquidity position won’t always be equal. This depends on:

• The price range you set for your position

• The current market price of the trading pair

If your position goes out of range, all your tokens will be converted into a single asset. Additionally, you can choose to provide liquidity only within a specific price range, even if it doesn’t include the current market price—allowing you to deposit just one asset instead of both.

What happens if my liquidity position goes out of range?

You will not earn any trading fee rewards if the current price goes out of the price range defined in your position.

On top of that, all tokens will be converted to one single asset depending on the direction of the price condition.

For example, if a position of SUMMITX/BUSD is configured with a price range of 3 BUSD per SUMMITX to 5 BUSD per SUMMITX. And all assets in the position will be converted to BUSD if the SUMMITX price is higher or equal to 5 BUSD per SUMMITX, and vice versa.

Please not that if the price moves back in the range, you will start receiving trading fee rewards again. No additional actions are required.

Is it better to always provide liquidity with a smaller range?

Providing liquidity to a smaller price range will help concentrate your liquidity to a spesific price range, boosting your relative shares again the total liquidity within the price range, potentially earning more trading fee rewards.

However, please bear in mind that only active liquidity positions will earn trading fee rewards from trades. This means you will only earn rewards when the current trading price is within the price range defined in the liquidity position.

Are there any ways to automatically adjust my position so it is always in range and earning fee rewards?

Automatic position managing feature is coming soon to SummitX v3 with one-click liquidity depositing (Zap!). Stay tuned for more detail.

What will be the trading fee breakdown for v3 Exchange?

	0.01%	0.05%	0.25%	1%
Liquidity Provider	67%	66%	68%	68%
SUMMITX Burn	10%	10%	23%	23%
Treasury	18%	19%	9%	9%
Fixed Term SUMMITX Stakers	5%	5%	0%	0%

Are LP fee rewards automatically compounded like Exchange v2?

No.

In Exchange v3 you will need to claim trading fee rewards manually. You may do that on the position detail page. You may find all your v3 liquidity positions on the liquidity page.

What affects LP APR?

In Exchange v3, LP fee reward APR could vary between liquidity positions. It is based on the following factors:

• Trading volume - more volume generates more fee rewards

• Liquidity pair fee tier - higher fee tier generates more fee rewards from individual trades

• The number of tokens deposited - more token in the position translates to a larger relative share against the total active liquidity, which gets more trading fee rewards from trades

• The selected price range - smaller price range allows a higher concentration for the same amount of token deposited, which translates to a larger relative share against the total active liquidity, and gets more trading fee rewards from trades

• The amount of liquidity currently active - if there are more users who deposit and concentrate their liquidity with the same range as you, you will earn less trading fee due to a smaller relative share against the total

• Whether the liquidity position is active - only active liquidity positions will earn trading fee rewards

Can I provide v2 liquidity?

Providing liquidity in V2 is no longer recommended. We suggest using V3 liquidity to benefit from its enhanced efficiency and new features.

However, if you still wish to add V2 liquidity, you can do so under these conditions:

• If a V3 pool doesn’t exist for the token pair, or if V2 has more liquidity than the largest V3 pool, an "Add V2 Liquidity" option will appear—click it to proceed.

• Alternatively, append /v2 to the URL to directly access V2 liquidity provisioning.

Why can’t I add liquidity to a pair I just created?

Due to a bug from the legacy Exchange V2 (present in every UniSwap V2 forks), you will not be able to add liquidity to a pair using the normal SummitX liquidity UI and its contract calls if a pair is:

• Created by calling createPair on FactoryV2 without depositing initial liquidity and minting the initial LP tokens

• Then, one of the tokens in the pair has been manually transferred into the pool contract while calling sync

Recently, an increase amount of such attacks were spotted on SummitX Exchange V2;

We strongly recommend using our UI to create the trading pair for your token by adding the initial liquidity with the pair creation.

While we are working hard on a solution to resolve this issue, here is a step-by-step guide to resolve this using BasecampScan:

Locate the pool address and its BasecampScan page

If your pair is affected, you will see the link to the BasecampScan page for the trading pair/liquidity in the error prompt.

Alternatively, you can head to Factory V2 (Basecamp), go to “Read Contract”, “6. getPair”, enter the address of the two tokens in your trading pair, and click “Query”. You should see the pair address in the return field.

Check which token has been deposited and transfer the other token into the pair manually

On BasecampScan, you can check the token balance field to see which token has already been deposited into the pool. Typically, this should be the paired token (e.g., WETH, USDT, etc.).

Steps to Fix the Issue Manually:

1. Identify the missing token:

   • Use BasecampScan to check which token is already in the pool.

2. Manually transfer the other asset into the pool contract:

   • Use your preferred wallet app.

   • Enter the pool address as the receiver.

   • Transfer a minimal amount to avoid unnecessary losses (since this process does not mint liquidity tokens).

IMPORTANT: After transferring the token, you must immediately call sync() on the pool.

1. Call sync() on BasecampScan:

   • Open the BasecampScan page for the trading pair.

   • Navigate to "Write Contract" > "8. Sync" and click "Write".

   • Connect your wallet before executing the transaction.

2. Once the transaction is confirmed, you can proceed to add liquidity on the SummitX UI.

What if I want to define the launch price?

You must adjust the pool to the launch price while transferring the token and fixing the pool.

The amount to transfer can be calculated using:

• tokenInside: the token that is already transferred into the pool. Usually it should be the paired token. (Like WETH, USDT, etc…)

• tokenToSend: the token that is about to be sent to the pool. Usually it should be your project token

• tokenInside.price: the USD price of tokenInside

• tokenToSend.price: the USD price of tokenToSend (the launch price)

• pool: the V2 pool

With the following formula:

amountToSend = tokenInside.balanceOf(pool) / tokenInside.decimal() * tokenInside.price / tokenToSend.price * tokenToSend.decimal()

If the result is smaller than 0 (usually happens when the launch price is very large. You may need to first deposit more tokenInside into the pool)

How to manage stable LP, and legacy v2 LP?

You can manage them as usual by going to the Liquidity page.

Why do I need to reset approval on USDT before enabling/approving?

When operating on the Ethereum mainnet, the USDT token follows a different logic for managing approvals and token allowance.

Therefore, when spending allowances are too low. It requires you to reset the approval before setting a new one.