Why New Tokens Take Time to Appear on Solflare's Swap List
We understand your excitement to explore and swap the latest tokens on Solflare! However, before a new token appears on our in-app swap list, it undergoes a quick but crucial verification process. This ensures a safe and smooth swapping experience for all our users.
Powering Swaps with Jupiter Aggregator
Solflare utilizes the powerful Jupiter aggregator (jup.ag) to find the best possible rates for your token swaps. To maintain a reliable and secure swapping environment, Jupiter has established specific criteria that new tokens must meet before being listed.
Safety and Stability Checks for New Tokens
Here's a breakdown of the key criteria Jupiter uses to evaluate new tokens:
Valid Token on the Blockchain: First and foremost, the token's existence on the Solana blockchain is verified. Additionally, the token's metadata (information about the token) must adhere to the Metaplex Token Metadata standard, ensuring a consistent and well-defined format.
Sufficient Liquidity: To prevent drastic price fluctuations during swaps, there needs to be a minimum amount of the token available for trading (liquidity). This minimum is currently set at $250 worth of the token. Having sufficient liquidity safeguards users from potential manipulation and ensures smooth execution of your swap orders.
Minimizing Price Impact: Large trades can significantly impact a token's price. Jupiter considers the potential impact your swap might have on the token's price. In simpler terms, the buy and sell price shouldn't drastically change due to your trade. This limit is typically set at a maximum impact of 30%.
Benefits of the Verification Process
By implementing these checks, Jupiter safeguards the Solflare swap experience in several ways:
Reduced Risk of Scam Tokens: Verifying token validity and adherence to standards helps prevent malicious or non-existent tokens from appearing on the swap list.
Stable Swaps: Ensuring sufficient liquidity minimizes the chance of significant price swings during your swap, protecting you from unexpected outcomes.
Improved Price Efficiency: The price impact check helps maintain a healthy market balance by preventing large trades from causing excessive price fluctuations.
How Long Does it Take for New Tokens to Appear?
If a token fulfills all the criteria outlined above, it will be listed on Jupiter's swap list (and consequently, Solflare's) typically within a few minutes.
So, the next time you eagerly await a new token, remember that this brief verification process ensures a secure and efficient swapping experience for everyone on Solflare!