Swap refunds explained

This page explains the conditions under which refunds are issued for VESPR in-app swaps.

When canceling a swap order inside the VESPR wallet, the following refund policies apply:

1. DEX Batcher Fee: Fully refunded for any DEXs that did not process the order. If one or more DEXs filled the order, the batcher fee for those DEXs will not be refunded.

2. DEX Deposit: Fully refunded (typically 2 ADA per DEX) for any DEXs that did not process the order. Deposits for DEXs that filled the order are not refundable.

3. Service Fee: Refunded proportionally to the unprocessed portion of the order, provided the refund amount exceeds 1 ADA. A 1 ADA charge is retained from the service fee, even if the order is fully canceled. This covers the cost of placing and canceling the order.

4. Filled Portions: Any portion of the order that has already been filled cannot be reverted or canceled, even if the rest or majority of the order remains unfilled.

Additional Considerations

1. Canceling a swap order will not refund the Cardano blockchain fee paid to place the order.

2. Canceling a swap order requires a new transaction, which incurs a transaction fee of approximately 0.5 ADA.

3. Even if you submit a cancellation request, there is no guarantee that the order will be canceled. If the order gets filled before it can be canceled, the cancellation transaction will not be processed, and the 0.5 ADA transaction fee will not be charged.

4. Any order canceled through VESPR native swap cancel feature that was not placed through VESPR's in-app swaps incurs a flat 1 ADA service fee.

Example

Let’s say you placed a swap order with a 10 ADA service fee:

• If 20% of the order is canceled, you will receive 2 ADA back from the service fee as refund. The remaining 8 ADA corresponds to the portion of the service fee already used for the processed part of the order.

• If the entire order is canceled, 9 ADA is refunded, with 1 ADA retained as the operational cost of providing the service.

Additionally:

• DEX Batcher Fee: Fully refunded for any DEXs that did not process the order.

• DEX Deposit: Fully refunded for any DEXs that did not process the order.

This example illustrates how refunds are proportionally calculated and ensures that no portion of the service fee drops below the 1 ADA minimum due to Cardano blockchain constraints.

Refund Processing

• Refunds are automatically calculated and processed when you cancel the order inside the VESPR wallet.

• Partial refunds depend on the percentage of the order that remains unprocessed.

• Refund amounts are transparently displayed in the wallet at the time of cancellation.

Canceling Directly via DEX

• If you cancel a swap order directly from the website of the DEX, the service fee refund may not be automatically applied. In such cases, please contact our support team to request the service fee refund. Since it needs to be manually verified, such requests may take longer to process.

When Are These Refund Policies Applicable?

The refund policies outlined above apply only when canceling swap orders through the in-app cancellation feature in VESPR and for swap orders placed using the in-app Swaps feature.

Orders canceled outside of VESPR or those placed directly through the website of a DEX or DEX Aggregator are not covered by these refund policies. For such cases, refund requests, if applicable, must be addressed directly with the respective DEX and/or DEX Aggregator.

Key Notes

• Refunds are calculated based on the unprocessed portions of the order.

• Once a portion of the order has been filled, it cannot be canceled or reverted.

• Cancellation requests require a blockchain transaction and are subject to blockchain fees.