fermi swap: four checks before trading on Ethereum
Check the Ethereum network, token addresses, minimum received and approval scope before signing a Fermi Swap trade; the quote is not the final fill.
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Before trading on Ethereum, check the network, token contracts, quoted output and approval request for fermi swap. The same checks apply to any Ethereum trade: a token label is not its contract address, and a quote is not a guaranteed fill. fermi swap is the subject here; the transaction details determine what you sign.
Is the trade on Ethereum mainnet?
Confirm that your wallet is connected to the intended network before approving or swapping. Ethereum transactions name a destination account or contract, and each transaction consumes gas paid in ETH, according to Ethereum’s documentation.
A token with the same ticker can exist on multiple networks. If your wallet shows a network mismatch, stop and check the network and token addresses before proceeding; a transaction on one chain does not move assets on another.
Are the token contract addresses correct?
Verify each token’s contract address against a source you already trust. The ERC-20 standard defines token functions such as balances and approvals, but the standard does not verify that a token with a familiar name is genuine.
Check both sides of the pair, especially when a token name or ticker is unfamiliar. A wrong address can point to a different asset, even when its displayed label looks right.
What will you receive, and what are you approving?
Read the minimum output and the approval request before signing. A swap’s quoted amount can change before execution as prices move or available liquidity shifts; the minimum output sets a floor, and a trade that cannot meet it may fail.
- Compare the estimated output with the minimum you would accept.
- Check whether the approval is limited to the amount you plan to trade.
- Review the transaction recipient and requested spending amount in your wallet.
- Keep ETH available for the gas fee, including if the transaction fails.
ERC-20 approvals let another address spend tokens on the holder’s behalf. If the spender or amount is unclear, do not sign until you can verify what the wallet is authorizing.
For most readers, the better choice is to pause over an unclear address, minimum output or approval instead of rushing to improve a quote. The trade is ready only when the network, assets and signed permissions match what you intended.