How to use spookyswap for the first time
spookyswap is a decentralized exchange where a first-time user swaps one token for another from a connected wallet. The total cost is not one fixed fee: it is the pool’s 0.01%, 0.05%, 0.30%, or 1% trading fee, plus the network fee, plus any worse execution caused by thin liquidity. The quote screen shows the figures worth checking before signing.
0.01%–1%: the trading fee
| Cost or check | What it means | What to do |
|---|---|---|
| 0.01%, 0.05%, 0.30%, or 1% | Pool fee charged on the swap | Read the route and fee tier in the quote |
| Network fee | Cost to submit the transaction | Keep enough native network token in the wallet |
| Price impact | Quote worsens as the trade moves pool pricing | Reduce the size or use a deeper market |
| Minimum received | Lowest output allowed by the transaction | Reject a number that no longer works |
The official spookyswap app is the place to connect a wallet, select the tokens, and inspect the route before confirming. Its V3 documentation lists the four pool-fee tiers and explains that the fee depends on the pool used, not on a universal platform rate: SpookySwap’s fee documentation.
Three costs: the real total
The headline fee is only the first line of the bill. The network fee pays for the transaction’s computation; blockchain fees are paid even if a submitted transaction fails, so an avoidable retry is still a cost. Ethereum’s gas guide explains the general mechanism.
Price impact is separate from both fees. A small trade in a deep pool may barely move the quote; a larger trade or sparse pool can leave the user with materially fewer tokens. I got this wrong the first time by treating a low fee tier as a cheap trade; it is never again a substitute for checking minimum received.
Minimum received: the decision number
Check expected output, minimum received, price impact, routing, and network fee together. Slippage—the difference between the expected exchange rate and the actual rate—explains why the minimum can differ from the initial quote while the transaction waits.
One approval: before the swap
- Connect the intended wallet and choose the correct network.
- Select the token being spent and the token being received; use a verified contract address for unfamiliar assets.
- Open the quote details, then approve the token only if required and confirm the swap after the total still makes sense.
0 transactions: when to stop
Do not confirm when the minimum received is surprising, price impact is high, the token contract is uncertain, or the wallet lacks room for the network fee. Waiting costs nothing; a bad on-chain confirmation is not easily undone.