🆘FAQs
You got questions, we got answers
We keep this updated based on questions we hear from the community. Have a question that isn't addressed here? Then Contact the team.
ℹ️ General
Why did you make Slick Swap
As active traders and long-time all-things-crypto enthusiasts, we wanted to build a tool that made things just that little bit easier. It turns out, many of you also wanted the same thing, and so we made Slick Swap.
Which exchange do you use?
For now, we use Uniswap. This may change in the future based on demand from our community.
Do I need to pay gas?
We cover the gas for every transaction as part of our fee. Our goal is to make trading as simple as possible for you, so you don't need to worry about having eth in your wallet.
Smart Contract Wallet
When is the Smart Contract Wallet created?
When you first create your Slick Swap account, we generate the wallet address to where you can deposit, trade and withdraw funds. After the first deposit, when funds are first transferred to this address, the smart contract is deployed there. This technique (to delay the deployment at precomputed address) is a well-understood and legitimate way to ensure that only wallets in use are being deployed. Everything is fully secure, transparent and carried so we can best use our resources for genuine users.
Why do I need to mark my wallet as a proxy before making withdrawals?
If you have chosen to protect and verify your account with a wallet address (instead of a password) then before making any withdrawals, you need to verify the wallet as a proxy. So, what does this mean?
The Slick Swap Smart Contract is deployed once, centrally, and all wallets are simply proxies to this contract. This means that each wallet shares the same behaviour and forwards/receives calls to/from this contract, but each has its own settings, tokens and of course ownership.
We chose this method for Slick Swap as it gives our customers several advantages.
The centralised contract is upgradable, meaning we can roll out new features (such as adding new DEXs or enhanced security controls) quickly, and without the need to change wallets. Your address, funds and wallet history stay the same. And of course, this upgrade process only happens if explicitly authorized by you! We will share info about upgrades in our Telegram Channel.
🏧 Withdrawals
I forgot my password, what do I do?
Try and remember it, we're afraid. If you lose your password, there is no way to make withdrawals. As much as you think this might suck, we believe it is a necessary security feature for Slick Swap. Smart contracts make everything public, and we don't want to be held responsible for leaking a password no matter how unlikely it might be. Therefore, it's your responsibility to use a password you can remember.
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