Thread by @tayvano_

Ugh @Uniswap please save my shitcoin casino playing friends from themselves. There has to be a better way to do this.

Let's say they want to dump 100 shitcoins, which is worth ~$5000 rn.

Uniswap sets slippage to AUTO which apparently is 0.5% (???). For everyone I know who uses Uniswap they have no clue what slippage is OR they don't trust themselves to set the slippage. They use AUTO.

So what should AUTO be?

In this case 0.5% = ~$25. Which I guess is...okay?

Until you realize that if the TX fails bc the shitcoin market is flying, they lose $150-$250 in gas!🤦‍♀️

That means they lost 3%-5% on that *non*-trade to save themselves 0.5%. 😬

It's even worse if they are trying to trade only $1000 worth of shitcoins though.

0.5% slippage is $5! "I don't want to lose more than $5 dollars"??

THEY ARE SPENDING $150 ON FUCKING GAS TO SEE A TRANSACTION FAILED MESSAGE RN LMFAO

In speaking with them in the moment, as they are raging, as they are trying to wrap their head around another new concept, I can honestly say they would have been objectively happier if auto slippage ~= the current txn cost.

Bc then at least the trade would have gone thru.

Now obvs the perspective this user in this mental state who is playing in this crazy volatile market is not 100% logical.

Namely, they don't necessarily realize that ~$150 is going to be spent on gas *no matter what*

Option 1: spend $150 to not execute a trade.

But if you set the slippage ~= the current gas costs...

Option 2: spend $150 to execute a trade where you "lose" $149 to slippage. Which has a cost of $299.

So would they have rather spent $299?

Well, honestly...maybe🤷

For these markets, a cost of $150 for their trade to NOT be executed may be worse than $299 for a trade that is executed.

1) If a coin is that volatile, the price in 5 blocks is either up $150 or down another $150

2) tx's failing feels out of their control

3) they dont understand why the tx failed and have to figure that out now

4) then they have to "start over"

5) and the markets moved since then

etc. etc.

For users playing these shitcoin casinos, I think they may actually prefer their txn go thru and keep on trading and feeling like they are winning and feeling like they are in control.

They hate feeling like a fucking idiot who can't send a tx and just wasted money on nothing.

Maybe the default slippage could consider the current txn cost along with liquidity or volatility or something. I dunno.

I do know that my irl friends are not the smartest folks in the room...but they are far from the biggest idiots in the room. There's gotta be a better answer.

And before anyone tells me they should've used [insert other dex here]...

1) not helpful
2) I do not encourage them shittrading anywhere
3) tell [other dex] to market better
4) on airdrop days, 20%-40% of uniswap txs fail so this is probs worth solving 😱
dune.xyz/queries/45313/…