# Trade

## Fees

There are two different fees associated with trading:

* **Gas/Transaction fees (network fees)**: All transactions will incur gas costs, which are unrelated to CoinChef, but rather the network itself.&#x20;
* **Swap fees**: Each pool is set with a percentage fee on each trade.

## Slippage

Price slippage is the variance between the anticipated price of a trade and the price at which it actually executes.

To mitigate potential price discrepancies, slippage tolerances are set to establish an acceptable margin of change beyond the price impact. As long as the execution price remains within the predefined slippage range (e.g., 1%), the transaction proceeds. However, if the execution price falls outside the accepted slippage range, the transaction fails, and the swap does not occur. This is akin to a traditional market scenario where a market-buy order, executed after a delay, may encounter unexpected price changes between submission and execution.

Additionally, you can define a "Slippage Tolerance" level, a custom slippage threshold that, if exceeded, causes the transaction to be automatically canceled. This option can be found in the top right menu by your wallet details.

## Priority Fee

Priority fees increase the chance of your transaction being included in a block.&#x20;

CoinChef offers a feature that allows users to adjust the priority fee tiers, providing them with the flexibility to set and modify these fees within the maximum limit that they specify. This functionality is designed to help users manage their transaction costs more effectively by enabling them to redefine the urgency and processing speed of their transactions based on their current needs and budget constraints.

## **Smart Order Routing**&#x20;

ChefSwap's Smart Routing feature incorporates an advanced routing mechanism that seamlessly connects the liquidity pools, enhancing liquidity provision and pricing accuracy.

This innovative system utilizes a sophisticated smart order routing algorithm, which intelligently executes trades across multiple liquidity pools to secure the optimal price for traders. By automatically analyzing market conditions and performing calculations to split and dispatch swap orders across various pools, ChefSwap's Smart Routing ensures efficient trade execution and maximizes value for users.
