Risks
Do not let your guard down. Stay vigilant!
❗️Contact us via our Intercom, if you find any bugs/problems.❗️
The Possibility of Price Change After Transaction Summited
RISK
During the submission of the trading pattern from Arken's best rate engine, if at that time a large number of transactions are waiting in a queue or a front-run occurs, this may result in not recieving the previously calculated rate.
PREVENTIVE MEASURES / ACCEPTANCE
Setting an appropriate gas fee with the network you are using before making a transaction submission
Do you own research on the risk of a front-run attempt: https://coinmarketcap.com/alexandria/glossary/front-running
Understand how to choose the appropriate gas fee at that moment
❗️Please be noted that Arken is not responsible for the price change situation mentioned above as this is a general working principle of chains.
Best Rate Engine
RISK
Arken's Price Feed Engine is a newly developed technology with unique algorithms and strategies. Thus, every time the user buys/sells coins and tokens, please must be sure to check the value of the coins that the user will receive carefully.
PREVENTIVE MEASURES / ACCEPTANCE
Always recheck the token values carefully before swap
An advised slippage % should not be over 1%
❗️Arken will always notify users before making any transaction with token valuation that is less than 10%. (Which may be caused by an error or not). If the user click confirms, it is assumed that the user has already checked the correctness before the transaction is completed. Arken will not be responsible for any damage caused
Double TAX
RISK
Arken Best Rate works as an intermediary for token exchanging between DEXs.
Results: In some transaction orders, exchanging certain types of tokens, such as tokens with taxes, commissions, or transaction fees (which do not meet ERC-20, BEP-20 standards) will result in double tax cases. Such trades must pay taxes, commissions, or transaction fees twice.
PREVENTIVE MEASURES / ACCEPTANCE
With Arken's current technology, we do not recommend trading tokens that do not meet ERC-20, BEP-20 standards.
Users can learn more about ERC-20 and BEP-20 standards HERE.
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