Help with first swap, nothing happening

Hi guys, very confused what’s going on, trying to do my first token swap. So i went to the 1inch.io home page, selected trueusd → dai trading pair, linked my wallet, gave permission and clicked on swap token button, paid the gas price from my wallet in ether.

but nothing is happening, it’s been 10 minutes, i still see trueusd in my wallet, and no dai. Not sure how to even check what’s going on, it’s very confusing. Appreciate any help on what’s happening and how to check. Coming from regular exchanges like coinbase / binance where transaction are near instant, this is very strange.

Thank you

Hi,

Thanks for reaching out. This transaction was likely a successful approval or “unlock” which is required before completing a swap. It requires gas fees but does not actually move any tokens as it is only granting the smart contract access to your funds.

Once the tokens are approved you should be able to complete the swap (which requires gas fees as well). These approvals are a security feature for all decentralized exchanges (like Uniswap, Sushiswap, Pancakeswap etc.), and make it so a smart contract cannot interact with your wallet without permission.

Also, here is a great step-by-step guide on the entire swapping process:
https://help.1inch.io/en/articles/4585153-how-to-exchange-assets-with-1inch-network

Hi,

I have the same issue. I know in Forums such as these, it is best to stick to an already established thread for similar questions. I’ve attempted my first swap as of yesterday. According to Etherscan (to my very limited eye), it is successful. But according to 1inch, the swap is still Pending. I successfully connected my wallet, loaded it with Eth and USDC, and used the Max Return setting for gas. I saw some Eth debited from my wallet after clicking the Swap button (then later in the night some flowed back in, but not all), but no USDC has been debited. I am swapping USDC for HOLO. This was around 3 pm 6/27/2021. I am still in Pending status. Have I screwed this up, or is this a normal transaction time?

Thanks for reading, and any replies, to this complete beginner.

This whole design is beyond confusing, no one bothered to look into usability. I never got it to work or understand what it’s doing. Luckily didn’t lose any tokens.

Look into trust wallet from binance to do the conversions instead for the less popular tokens, it worked like a charm and done in 5 mins.

Were you able to understand/have some insight into how to manage your gas costs? I like 1inch because I can swap across chains. I don’t think that’s possible on Binance, or am I wrong?

So apparently the Swap action is a two-step transaction. If this was explained anywhere, I missed it. The first step is to grant the swap contract access to your coins. The second, discreet step you have to explicitly perform is to do the actual swap.

Success! Not too bad of an experience for first time.

Apologies for the late response. I’m glad to see you were able to get it swapped! That is correct, there are two steps to the process:

  1. Approve tokens (grants the smart contract access to your funds)
  2. Swap tokens

Both steps require gas fees to execute.

***Note: Once the tokens have been approved with that specific contract, you’ll never have to unlock them again for swapping.

For anyone else interested, here is a full overview with screenshots of the swapping process:

Swapping - Desktop site:
https://help.1inch.io/en/articles/4585153-how-to-exchange-assets-with-1inch-network

Swapping - 1inch iOS Wallet app:
https://help.1inch.io/en/articles/5172827-how-to-swap-tokens-using-the-1inch-wallet-app

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