The guide below explores Caddi's features for optimizing trades using DeFi and CeFi platforms. This concise guide covers trade routing, gas prices, swapping, error messages, supported partners, fees, security features, settings, and privacy. Boost your trading experience and security with your crypto companion, Caddi.
Jaimin Patel
Founder & CEO, Caddi
Caddi Extension Introduction:
Optimal order routing: Caddi intercepts on-chain trades from dApps: DEX and DEX aggregators to make swaps cheaper through optimal order routing.
Scam prevention: Caddi ensures they you don’t fall victim to scams with phishing protection and transaction simulation (coming soon)
Caddi intercepts trades made on dApps (e.g. Uniswap and 1inch)
Optimized by Caddi tab shows up where we can intercept trades
The popup displays alternative swap routes than the original, accounting for predicted gas and fees
Use original route forwards the original dApp transaction to your wallet
Alternative routes displays aggregators and exchanges to execute trades
Defi Swaps:
When a DeFi route is selected, Caddi checks if that token needs approval and requests for approval if necessary
Note, your wallet is still connected to the original swap website e.g. https://app.uniswap.org
Once the approval has been confirmed in your wallet, the approval transaction is sent for processing on-chain
Confirm swap in wallet: Requires you to confirm the swap in your wallet (wallet gas cost likely will be displayed in your wallet as 80% higher than what is executed)
Aggregator swap request received: The swap is waiting to be accepted on-chain, a pending transaction hash link is given to track it in real-time
You just saved $x.xx with Caddi will appear with the savings and a link to the completed transaction on a block explorer.
CeFi Swaps
Whey you choose a centralized exchange route, Caddi may request for you to enter your password to decrypt your API. You can also upload your API key from here if you haven’t done so already
The button “Trade on Binance and save $x.xx” will execute a trade
Caddi can execute market orders on Centralized Exchanges
Caddi only routes through CeFi if a user connects their exchange accounts via API
API key storage: Caddi keeps your API keys locally inside your extension encrypting them using your long password. they never leave your device
A long password is required to access your API keys, this is used to encrypt them
To trade on CeFi, go to Binance, Kraken or Kucoin's API key management page and create an API key with trading and reading permissions. For extra security measures, we strongly recommend whitelisting your IP address (Google "my IP address" if you don't know it)
Caddi displays the cumulative amount saved since installation
Recent transactions executed, click to be sent to the block explorer for DEX transactions or the exchange pair for CEXs
Caddi optimal swaps: Caddi blocks the swap you execute from DEX and aggregators from going straight to your wallet. The transaction is simulated to calculate your original swap's price and estimates gas. DEX aggregators and CEX partners are checked to see if the same swap can be made cheaper. If cheaper routes are found, the predicted savings on that trade are displayed and a new transaction is forwarded to your wallet offering savings.
Gas prices: Caddi ensures that the full transaction cost is accounted for including gas estimation, the gas and swap price are displayed separately. We increase the gas limit by 80% to reduce the transaction's probability of failing, this means your wallet will over-predict the gas cost by 80% on average compared to the executed gas.
Fees: By default, Caddi swaps have a 0.05% fee, on CEXs there is no extra fee
Security features:
Phishing detection: It searches a database of known scam websites and pops up with an alert banner to notify the user they are on a scam website.
Transaction analysis (coming soon): When a user connects their wallet and is about to sign a transaction, Caddi pops up and notifies the user if they are likely going to sign a scam transaction and with an outline of what the scam is.
Settings page (⚙️ icon from Caddi Popup page):
Manage API keys: Let's you connect to Centralized Exchanges
Optimal order routing: Toggles intercepting trades and searching for cheaper routes
Phishing protection: Toggles phishing website detection off or on
Include Centralized Exchanges: Toggles whether Caddi presents CEX routes
Whitelist a website: Allows whitelisting a website so Caddi can optimize swaps for new websites
Join the community: Link to our Telegram chat and socials
Transaction failed: When a transaction does not go through, this can be for a number of reasons:
You reject the transaction from your wallet
The blockchain network is congested and the transaction did not have a high enough gas limit, we attempt to mitigate this issue by increasing the gas limit by 80%
There may be an error with the aggregator pricing parameters or your wallet reading the transaction
Caddi is built with security as a top priority: No sensitive data is stored on our databases & servers, as Caddi doesn't have smart contracts there is no smart contract exploit risk.
All of the smart contracts of Caddi’s DeFi aggregator partners have been audited
API keys are kept locally, and encrypted using an enforced long password. Even if your browser is hacked, a brute-force algorithm to decrypt your API keys will take years to execute.
Privacy
The Caddi extension collects product usage data for product improvement.
All data is anonymized and personal data is not collected.
Disclaimer: the Caddi UI is constantly updated so the images above may not match up 1-1 with the product.
