When trading with Autotax enabled, it's possible you may have been trading a token with a large fee. Auto-tax allows tokens with fees up to 50% to be traded easily.
It's your responsibility to know the fees of the tokens you're trading.
Did you trade with High Slippage?
If you traded with a large slippage value, this means that your order can go through even if the trade becomes unfavourable by that amount.
For example, if you set slippage to 10% and trade 100 BUSD for Ethereum, you could receive as little as $90 worth of Ethereum.
Did you check how many tokens the Swap tool was going to provide for your swap? It's really easy to forget to check that you're getting what you want out of a swap. If the trading environment is volatile, it's very important to check that you are OK with the presented trade outcome before submitting the transaction.
All tokens that are legitimately created should allow you to Approve their spend on any contract, including Bogged Finance Contracts.
If you find a token that has been given to you, does not allow you to approve or trade it, it is likely a honeypot scam token that has been sent to you to try to trick you into sending them money.
If you are trying to approve a token you have bought, but it won't let you approve it, this could mean that the token is a honeypot scam designed to trick investors into buying it with no possibility of selling it.
Warning! If the token gives you an error telling you to visit a site to trade it, it's extremely likely that this is a SCAM that will try to trick you into giving them your funds.
Unfortunately, with malicious tokens, there is nothing that can be done to recover funds lost to them.
An abnormally high gas fee is a common error that occurs when interacting with Smart Contracts, and it can easily be fixed by running through the below checklist:
First, refuse the transaction so you don't get charged. Then check the below:
- Input values - This is the most common reason for seeing high fees, and it's often caused by clicking the "max" button when buying/selling tokens. Try using whole numbers instead of numbers with many decimals. (Example: 0.5 instead of 0.548946212321564).
- Slippage - You may have set the slippage too low for your transaction. Try increase your slippage or read the documentation of the tokens you're swapping to find out what you should be using.
- Connectivity - Ensure your wallet is properly set up and connected to the chain you're transacting on. This solution will vary depending on what wallet app you use, so we suggest finding the instructions for your specific app and double checking that all the input fields are correct.