When executing transactions on Moonshot, you might encounter challenges, especially during periods of high market volatility. Adjusting your slippage tolerance could be the solution if you’re struggling with failed transactions. This guide simplifies the process and provides practical steps for beginners to help you successfully complete your transactions while being mindful of potential risks.

What is Slippage Tolerance in Moonshot?

Slippage tolerance refers to the percentage difference between the price you see quoted and the actual price at which your transaction is executed. When market conditions are volatile or network congestion is high, slippage can occur, leading to failed transactions if your tolerance is set too low. By increasing your slippage tolerance, you improve the chances of your transaction being fulfilled.

Keep in mind, though, that higher slippage tolerances can cause the price you pay or receive to differ significantly from the quoted price.

How to Adjust Your Moonshot Slippage

Follow these simple steps to increase your slippage tolerance and execute your trades during periods of high volatility:

  1. Navigate to the Buy or Sell Screen

Open Moonshot and head to the buy or sell screen for the specific coin you want to trade.

  1. Access the Slippage Settings

Tap on the filter icon located at the top left side of the screen.

  1. Select “Manual” Mode

Choose the “Manual” option to adjust your slippage tolerance manually.

  1. Increase Your Slippage Tolerance

Start by increasing your slippage tolerance slightly, by about 0.5%.

  • Example: If your slippage is set at 1%, adjust it to 1.5%.
  1. Retry the Transaction

Attempt to execute your transaction again.

  1. Keep Gradually Increasing

If the transaction still doesn’t go through, continue increasing your slippage tolerance incrementally until it succeeds.

Things to Keep in Mind While Adjusting Slippage

  • Price Impacts

Higher slippage tolerances mean your transaction may settle at a price significantly higher or lower than the one quoted. Always proceed cautiously and double-check your adjusted settings before submitting the transaction.

  • Network Congestion

If increasing slippage doesn’t resolve the problem, the issue may be caused by network congestion rather than volatility. Delaying your transaction by a few minutes and trying again often helps.

  • Monitor Market Activity

If your transaction still fails after taking the above steps, it could be worth monitoring the coin market to better time your next attempt.

Conclusion

Adjusting your Moonshot slippage tolerance is a simple yet powerful tool for handling failed transactions due to market volatility or network congestion. By following the steps outlined in this guide and staying mindful of the risks, you can confidently trade even during high-pressure situations.

If you’re just starting with Moonshot, don’t hesitate to experiment with small trades first to get comfortable with adjusting slippage settings. With practice, you’ll feel more empowered to manage your transactions effectively.

Take charge of your trades today, and make the most out of Moonshot!

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