Glossary

What you would still receive if your slippage tolerance were used up in full. It is an estimate of the low end, not a guarantee.

Called "estimated" rather than "minimum" on purpose: the chain is never given an amount, only a price limit, so nothing enforces this figure directly. With partial fill off (the default) the trade is all-or-nothing at a price no worse than your limit, so you land at or above it. With partial fill ON the chain fills only what fits under the price limit and refunds the rest, which can settle well below this number, with no error and no warning. A normal trade lands on the expected output, not on this.

Submits your swap encrypted, so nobody can read it while it waits in the queue and trade in front of it. It is only decrypted once its place in a block is fixed.

It costs a couple of blocks of latency, and in self-custody mode roughly twice the network fee, since two transactions are signed. The relay never sees the contents of your order, though it does receive your wallet address in the clear, so it knows that you traded and when, not what. The two blocks are the wait for a block whose builder holds the key: the envelope and the revealed swap then land together, in that same block. Each mode can be turned off on the server side, so the toggle is not always available.

What the blockchain charges to include your transaction. Taoswap takes no fee of its own.

Not to be confused with the pool fee, which is about 0.05% taken out of the token you put in and is already inside every quote on the page. That pool fee does not go to the subnet: it goes to whoever builds the block. It is a per-subnet chain parameter that only governance can change, up to a hard ceiling well above the current value, so it is not necessarily the same everywhere. The doubling shown for self-custody is a rough stand-in for a transaction that is never actually priced, so read it as an order of magnitude. Smart Actions does not offer the shield, so its estimate carries no doubling and is exact. The network fee is paid even when the trade is rejected for exceeding your slippage tolerance, and on a sale or an alpha-to-alpha swap a wallet with no free TAO still pays, out of the position itself.

How much worse your effective price is than the quoted pool price, because your own trade moves the pool. It grows with your size and shrinks with pool depth.

The number shown covers the subnet fee as well as the curve movement, so it is the whole cost of the trade. Do NOT read it as a floor for your slippage setting: the tolerance is applied on top of the execution price and the chain checks it against the pool price AFTER your trade, so the impact eats into the tolerance a second time (see Slippage tolerance). Only the curve part stays in the pool, which is why splitting a large order genuinely costs less; the fee itself leaves the pool and goes to whoever builds the block. The 1% and 5% marks colour the figure rather than warn you: the actual warning fires on the dollar cost, above roughly $100. Free TAO and root trade 1:1, so their impact is 0.

How far the price may move against you between signing and inclusion before the chain refuses the trade. Default 0.5%, minimum 0.1%.

It is applied on top of the expected execution price, but that does NOT mean it only has to absorb market movement. The app anchors the limit on your average execution price while the chain tests it against the pool price once your trade is done, so your own impact is charged against the tolerance a second time: at 0.5% on a trade showing 0.3% impact, roughly 0.3% of headroom is left for the market to move. Set it too low and ordinary movement makes the transaction fail. A rejected swap costs the network fee and nothing else. With partial fill enabled the chain executes what fits under the limit and refunds the rest instead of rejecting everything, though it still rejects outright if the price is already past your limit when the transaction lands. Two gaps to know: swapping alpha for alpha is only approximately bounded, and a plain move between validators carries no limit at all. Defaults are 0.5% with a 0.1% minimum on this page and in the cart; Smart Actions runs its own, much wider default.