Fees – refer to charges incurred by users when they engage in trading on an exchange. This includes liquidity provider fees, approval fees, and gas.
Impermanent loss – this refers to the significant change in the liquidity value compared to when supplied due to price volatility or an imbalance in the amount of a particular token.
Liquidity – refers to the ease with which a particular cryptocurrency can be bought or sold in the market without causing significant price fluctuations.
Liquidity pool – a pool of funds comprising a pair of tokens provided by users (liquidity providers) to enable the exchange of one cryptocurrency or token for another without the need for a traditional order book or intermediary.
Liquidity provider fee – The fees charged on each trade which goes to liquidity providers as a protocol incentive for supplying liquidity to the pool.
Minimum received – this is the estimated minimum amount of tokens to be received during a swap after taking fees and slippage into consideration.
Price impact - the difference between the market price and the estimated price due to trade size.
Revoke approval - this refers to undoing the approval for a protocol to spend funds from a wallet.
Risk warning – Due to the decentralized nature of AMMs, anyone can create liquidity for any pair of assets deployed on the Beam network. The risk warning is simply a caution that pops up when you are about to trade assets that are not in the default list of tokens.
Slippage - is the price gap between the average price of an asset and the market price. On a DEX, this is usually caused by poor liquidity or tax logic within a crypto’s smart contract.
Spend limit approval – during the first swap between a pair of assets or when adding liquidity, a request is sent to your wallet to authorize the protocol to initiate an allowed number of tokens to be swapped.
Swap – refers to a trade or exchange of cryptocurrencies or tokens on a decentralized exchange (DEX) without the need for an intermediary.
Token list – this is a list of all the tokens that can be swapped with other tokens on the Beam Swap protocol.
Transaction deadline – a customizable time allowed for a trade to remain pending before it can be reverted.