DeFi trading on platforms like Uniswap has exploded in popularity due to its decentralized, transparent nature. But with this growth has come frustration over failed transactions when swapping tokens.
Nothing‘s more annoying than seeing the dreaded "Transaction Failed" error on Uniswap when you‘re trying to execute a token swap or provide liquidity.
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But don‘t panic. Most failed Uniswap transactions can be successfully completed by adjusting settings and troubleshooting.
In this comprehensive guide, I‘ll leverage my expertise as a crypto trader to provide tips on how to resolve failed Uniswap swaps, including:
- Common reasons transactions fail on Uniswap
- Step-by-step solutions to complete failed transactions
- Proactive strategies to avoid failed swaps
By the end, you‘ll have the knowledge to swap tokens on Uniswap without hiccups and eliminate transaction errors. Let‘s get started!
Why Do Transactions Fail on Uniswap?
Before fixing failed Uniswap swaps, it‘s important to understand what causes them in the first place. Here are the most common reasons:
Price Slippage Exceeds Threshold
The main culprit is price slippage surpassing your set limit. For instance, you try to swap 1 ETH for USDC at a rate of 1000 USDC per 1 ETH. But the ETH price drops, causing the rate to slip to 980 USDC. This slippage exceeds your 1% tolerance, so the transaction fails.
New, volatile tokens are especially prone to dramatic price movements that can cause excessive slippage.
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Inadequate Gas Fees
During network congestion, low gas fees lead to failed transactions as they get stuck and are not processed quickly enough.
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Insufficient Liquidity in the Pool
Trying to swap too large an amount for the available liquidity will result in "insufficient liquidity" errors. The size of your trade must align with the depth of the liquidity pool.
Forgetting to Unlock Tokens
You first need to approve Uniswap to access your tokens before swapping. Forgotten approvals cause "transfer amount exceeds allowance" errors.
Now let‘s explore solutions to overcome each of these issues.
Step-by-Step Guide to Complete Failed Uniswap Transactions
The good news is many failed swaps can be completed by tweaking settings and troubleshooting. Here are actionable tips:
Increase Slippage Tolerance
For transaction failures due to price slippage, the easiest fix is to raise your allowed slippage tolerance.
Start with 1-2% increments. For volatile assets, set slippage between 3-5%. For new token launches, you may need 10%+ to account for rapid price fluctuations.
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Here‘s how to update slippage tolerance on Uniswap:
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Access Uniswap‘s swap page and connect your wallet.
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Enter your token swap details.
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Click the Settings icon.
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Adjust the slippage tolerance to your desired percentage.
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Try submitting the transaction again.
If it still fails, incrementally increase the slippage and re-submit until the transaction processes successfully.
Increase Gas Fees
Stuck transactions from congestion and low gas fees can be resolved by increasing your gwei.
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In your wallet, adjust gas fee settings to "high" or 30+ gwei.
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This will prioritize the transaction and likely allow it to complete smoothly.
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Check ETH Gas Station for current gas price guidance.
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Wait for More Liquidity
"Insufficient liquidity" errors require adding more liquidity to the pool to facilitate larger swaps.
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Check the liquidity depth chart for the swap pair.
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Break swap into smaller chunks if size exceeds liquidity.
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If liquidity is very low, wait for the pool to grow organically.
Also verify legitimate pools before swapping using analytics from Uniswap Info.
Unlock Your Tokens
If you haven‘t approved token access, the transaction will fail. You only need to do this once per token:
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Access Uniswap and enter your swap.
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Click "Unlock" next to the relevant token.
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Confirm the approval in your wallet to allow Uniswap access.
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Try your swap again – it should now work!
Proactive Ways to Avoid Failed Uniswap Transactions
While you can troubleshoot failed swaps, it‘s ideal to avoid them entirely. Here are some tips:
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Set higher slippage tolerance, especially for volatile assets
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Use adequate gas fees during high Ethereum network usage
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Check token approval status and unlock before swapping
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Verify sufficient liquidity for your trade size
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Limit swaps during periods of peak volatility
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Double and triple check all swap details before confirming
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Alternative Troubleshooting Options
If the fixes outlined don‘t resolve your Uniswap transaction issues, a few other options include:
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Refreshing – clear browser cache and reconnect wallet
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Switching wallets – try MetaMask instead of Trust Wallet, for example
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Changing networks – attempt swap on Arbitrum instead of Ethereum mainnet
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Updating contracts – use new token contract if swapping outdated version
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Checking status offline – failed transactions may still complete eventually
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Conclusion
While frustrating, many failed Uniswap swaps can be successfully completed with the right troubleshooting approach. The keys are adjusting settings incrementally like slippage and gas fees, and verifying all details before confirming the transaction.
My advice is to start by tweaking slippage tolerance to account for price fluctuations. Try higher gas fees if that doesn‘t work. For liquidity issues, reduce trade size or wait for pool growth. And always approve your tokens first!
With the accelerating growth of DeFi, failed transactions will be a fact of life. But I hope these tips empower you to easily resolve issues and enjoy seamless token swapping on Uniswap. Let me know if you have any other questions!
