# FAQ

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<summary>Do I need to create an Olympex account?</summary>

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.

</details>

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<summary>What is a liquidity pool, and how is it used in Olympex?</summary>

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.**

</details>

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<summary>What happens if a transaction fails?</summary>

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](/olympex/common-error-codes.md) or, access the official support center.

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<details>

<summary>Why do I need to unlock and authorize tokens before swapping?</summary>

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.**
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Users can approve a specific amount or grant infinite approval to avoid repeating this step in future transactions.

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<summary>How does Olympex differ from other DEXs?</summary>

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.

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Aditionally, Olympex stands out with a brand **new functional Dashboard** that help user understand their activity through dynamic KPIs and transactional history panels.

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<summary>Which blockchains are supported by Olympex?</summary>

Olympex integrates with multiple blockchains including **Ethereum, BNB Chain, Polygon, Arbitrum, Optimism, Avalanche, Base, Linea, and Fantom**, enabling smooth and secure cross-chain operations.

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