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Slippage
Slippage occurs when a trader locks in a price for a trade but receives a different price from the original request due to price movement. Slippage is common on large decentralised exchanges (DEXs) because cryptocurrency assets are highly volatile.
Major DEXs, such as Uniswap, Spookyswap, and VVS Finance, give options for how much slippage a trader is willing to have. If the price movement is much more than the original slippage was set at, then the trade will revert. On DEXs, users can typically set the slippage themselves.
Key Takeaway
Slippage occurs when a trader locks in a price for a trade but ultimately receives a different price from the original request due to price movement.