Can I cancel a smart contract once I've initiated a trade?
Asked a year ago
Can I stop my transactions from executing If I set my slippage tolerance too low during peak trading time? I'm worried that I've set the slippage too low, that the transaction may fail, and that I will lose money through gas fees.
Thursday, September 15, 2022
Yes, you can cancel a pending DEX transaction either through in-application cancellation or setting a custom nonce. Typically, a DEX transaction may be left pending for some time or stuck when you submit with a low slippage tolerance or gas fees. The easiest method of cancelling a pending transaction is through in-application cancellation. You simply need to exit your web3 wallet app and close your browser, reopen it and log back into the app.
Alternatively, you can cancel a pending transaction by setting a custom nonce – creating a 0 token transaction with a high gas fee to your own address to limit a previous transaction from being executed. Before initiating the second transaction, you should note the nonce of the pending transaction and reuse it. In other words, both transactions should have the same nonce.
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