FAQ

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What Are MEV Attacks?

MEV (Maximum Extractable Value) attacks occur when validators on Solana manipulate transaction ordering within a block to increase their profits. This can include:

  • Front-running: Placing their transaction ahead of yours to gain an advantage.

  • Back-running: Placing their transaction immediately after yours.

Such manipulation can cause you to lose potential profits or force you to buy tokens at a much higher price than intended.

How to Avoid MEV Attacks

Go to Settings, select Buy or Sell Settings, and turn MEV Protection On until you see a green circle and the word Enabled. Don’t forget to add the Buy Tip Amount to optimize your transactions.

What is Slippage?
  • Definition: The difference between the price you expect to pay for a memecoin and the actual price at execution.

  • Why It Happens: Price changes occur quickly in volatile markets.

How to Manage Slippage

  • Low Slippage: May cause transaction failure if prices fluctuate too much.

  • Higher Slippage (e.g., 1%-15%): Ensures your transaction goes through but may cost slightly more.

Example: If you set 1% slippage for a token priced at 1 SOL, the price can go up to 1.01 SOL or down to 0.99 SOL without failing.

What Are Phinix Fees?
  • Standard Fee: Phinix charges a 1% fee on each transaction.

  • Community Discounts:

    • Hold an NFT Coupon to reduce fees by up to 40%.

    • With a Legendary Coupon, enjoy lifetime zero fees!

We’re here to support the community and make trading more affordable. 🚀

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