FAQ
Frequently Asked Questions
Do I need to create an Olympex account?
No. Olympex is a DeFi platform — a Decentralized Exchange (DEX) — and does not require a native account. Instead, users connect directly through a compatible wallet (such as Metamask, Trust Wallet, Phantom Wallet, etc.), maintaining full ownership and control over their assets. No private keys or user data are ever shared with Olympex.
What is a liquidity pool, and how is it used in Olympex?
A liquidity pool is a fund consisting of two tokens locked in a smart contract that enables automatic exchanges between them, without intermediaries or order books. At Olympex, these pools are used as sources of information: the aggregator compares multiple pools across multiple platforms to execute execute trades using the specific liquidity pool that offers the best price and lowest slippage available.
What happens if a transaction fails?
If the user has insufficient funds or if the blockchain network encounters an issue, the transaction will be automatically canceled, and an error message will be shown on the platform. Users can review the cause here or, access the official support center.
Why do I need to unlock and authorize tokens before swapping?
Before executing a swap, users must approve the token so that the Olympex smart contract can access it. This is a security requirement on the blockchain to prevent unauthorized access to a user’s assets. Users can approve a specific amount or grant infinite approval to avoid repeating this step in future transactions.
How does Olympex differ from other DEXs?
Aside from bringing together the best financial tools distributed throughout the ecosystem, Olympex introduces the use of NFTs not only as collectibles but as freely accessible utility tools. These NFTs grant long-term free use of the platform by eliminating all platform fees—an advantage rarely, if ever, offered across the full range of tools on other platforms.
Aditionally, Olympex stands out with a brand new functional Dashboard that help user understand their activity through dynamic KPIs and transactional history panels.
Last updated