These swaps can fail for many reasons – from basic setting problems to complex network issues. The default 0.5% slippage setting in your Phantom Wallet often causes failed transactions by canceling them if prices shift beyond this limit.
Your swap might fail because you don’t have enough native tokens to cover transaction fees on Ethereum, Base, Polygon, or Solana networks. Network traffic becomes a huge factor too, especially as fees spike during busy periods. It also fails due to liquidity provider issues, tokens with “freeze authority” limits, or attempts to trade suspicious scam tokens. The good news? You can fix all these problems.
In this piece, you’ll learn why your Phantom swap isn’t working and get quick solutions to restart your transactions. We’ll help you check if tokens are legitimate before you trade them to keep you safe from scams.
Check These First: Common Reasons Phantom Swap Fails
Failed Phantom swaps can frustrate users, but checking these common issues will save time and effort.
Insufficient Native Tokens for Fees
Your swaps might fail because you lack native tokens to cover transaction costs. Each blockchain demands its own specific token to process fees:
- Solana: You need at least 0.05 SOL
- Ethereum: ETH is required to process all transactions
- Base: ETH on Base network
- Polygon: POL to process fees
These native tokens are essential to execute transactions. To cite an instance, attempting to swap USDT with zero SOL in your wallet will result in immediate failure. Solana mobile processes swaps over $75 as gasless, which means the system deducts fees from the token you swap instead.
Slippage Tolerance Settings
Phantom’s default slippage tolerance stands at 0.5%. Then, if token prices shift beyond this percentage between swap initiation and execution, the transaction fails. This mechanism protects you from receiving substantially fewer tokens than expected.
The default setting proves too restrictive for volatile tokens, especially meme coins. Matt Sorg from Solana Foundation points out that price “slips” with these tokens cause many failures.
Network Congestion Issues
Network congestion creates obstacles for users. Phantom has handled over 8 million requests per minute during peak periods. This volume leads to delayed or failed transactions, even though the platform manages $1.25 billion in volume.
Busy days see up to 75% of on-chain transactions fail due to congestion. Bot activities and spam transactions make these problems systemic by trying to prioritize their operations.
VPN Interference
Your VPN could disrupt connections with decentralized exchanges. Users report that disabling VPN temporarily or switching server locations resolves persistent swap failures.
Fixes You Can Try Instantly in Phantom Wallet
Failed swaps in your Phantom Wallet can be frustrating, but you can fix many issues right inside the wallet. Here are some quick solutions you can try.
Adjusting Slippage Tolerance
Your transaction might keep failing, and adjusting slippage tolerance could provide a quick fix:
- Find the slippage icon in the upper right corner of the swapper page
- Pick a value between 0.1% and 30% based on your needs
- The “auto slippage” option works well with volatile tokens
Phantom’s default slippage sits at 0.5% to protect you from bad trades, but this might be too strict especially when you have volatile tokens. Note that your slippage adjustments become the default for future swaps, so double-check before each trade.
Selecting Alternative Liquidity Providers
Slippage adjustments might not always work. Here’s what you can try:
- Look for the provider selection option during the swap
- Pick a different provider from the list
- This helps match your trade with pools that have enough liquidity
Managing Network Congestion
Network congestion affects transaction success by a lot. Phantom reports better transaction success rates now at nearly 90% compared to previous weeks, but you might still face issues. Here’s what you can do:
- Check Solana’s network status through Solscan
- Trade during quieter network periods
- Try the transaction again—this simple step often works
Reducing Swap Amounts
Tokens with low liquidity need special handling:
- Lower your swap amount to reduce price impact
- Your success rates improve as smaller trades work better with limited liquidity pools
Disabling VPN Connections
VPN services can disrupt DEX communications unexpectedly:
- Turn off your VPN temporarily
- Try a different server location
- Turn it back on after your swap completes
These adjustments should help you fix most Phantom swap failures quickly.
When the Problem Is With the Token Itself
Your Phantom swap might fail due to the token itself, not because of settings or network issues. A good understanding of token-specific problems can protect your assets and save time.
Dealing with Frozen Tokens
A feature called “freeze authority” locks frozen tokens and stops them from being transferred or traded. The token creator enforces this restriction that shows up as failed swap attempts in your Phantom wallet. We froze legitimate tokens to maintain security measures or regulatory compliance.
Scammers exploit this feature frequently. They create tokens and keep freeze authority to stop legitimate holders from selling. Tools like RugCheck can help you verify if a token is frozen before you attempt swaps.
Malicious Account Errors
A “swap failed due to malicious account” error message clearly points to a scam token. These tokens trap users by blocking swaps. The tokens might look valuable but scammers design them to be unswappable within Phantom.
Malicious account errors differ from typical swap failures. No amount of slippage adjustments or technical fixes can resolve these fundamentally compromised tokens.
What You Can Do
Steps to handle problematic tokens:
- Avoid further interaction with suspected scam tokens
- Never connect your wallet to unknown sites that promise to “fix” frozen tokens
- Consider external DEXs as a last resort—external decentralized exchanges like Jupiter (for Solana tokens) or Uniswap (for Ethereum-based tokens) might help swap suspicious tokens
Suspicious tokens in your wallet don’t mean it’s compromised. Anyone can send tokens to your public address. Your funds stay safe if you don’t interact with these tokens.
A token’s freeze authority status (especially for meme tokens) serves as a major red flag. The token creator alone can lift these freeze authority restrictions.
Conclusion
Phantom swap failures occur for many reasons but simple adjustments can fix most issues. You’ve learned that transaction problems stem from low native tokens, tight slippage settings, and network congestion. The solutions are straightforward – adjust your slippage tolerance, pick different liquidity providers, or wait for the network to clear up.
Your assets need protection, and token-specific issues are crucial to understand. Some tokens come with “freeze authority” while others are designed to trap users with malicious intent. Tools like RugCheck help you verify token legitimacy and avoid potential scams before you attempt any swap.
Network congestion might slow things down, but patience usually pays off. A small balance of native tokens (SOL, ETH, or POL based on your network) will help you cover transaction fees. These solutions will help you direct your Phantom swaps smoothly and complete transactions without delays or complications.
