Bami uses the AMMs provided by Pancake swap to fulfill orders. The following diagram describes how the Bami Exchange feature works.
Instead of using one Liquidity Pool, Bami chooses the LP with the best price and availability to fulfill orders for traders, saving them money and time.
The swap requests will then be processed by other LP, such as Pancakeswap for now and more in the future.
In order to start swapping on Bami, you need to prepare the tokens in your wallet. If your tokens are on other platforms such as Binance, Huobi, or any other centralized exchanges, you need to withdraw them to your personal wallet.
In order to start trading, look for the pair you want to trade. In this example, we will use BNB-BUSD.
There are some key takeaways when you trade on a Swap protocol:
Price: the estimated pricing for the current trading
Minimum received: the estimated amount of the tokens you will receive
Price impact: the difference between market price and your price (may change due to your trade volume)
Liquidity Provider Fee: The fee you need to make for the Liquidity Providers.
Understanding those settings will make your trades less risky.
Slippage tolerance: setting this percentage will make your transactions reverted if there are any unfavorably changes to the price that exceeds this percentage. For example, if you set this variable at 0.1%, then any changes to the price that exceeds 0.1% will make your Swap request reverted and no Swap will be made.
Transaction deadline: The period of time after which your transaction will be reverted if it is not approved. For example, if you set this variable at 20 minutes, then after 20 minutes of pending, your Swap request will be reverted.
When you are satisfied with the rate, you can start Swapping by unlocking your wallet. Please note that a contract call will be made first so that your tokens can be spent on behalf of you, this is required so that Bami can get the tokens from you.
You can check your transactions by clicking on your wallet address and click on "View on BscScan".