Matcha: token swaps, routing fees and wallet permissions

Matcha aggregates liquidity for token swaps, with Swap, Limit and Advanced controls in the current interface. Its route sources include automated market makers and request-for-quote liquidity. The interface supports EVM-wallet connections and links to the 0x developer infrastructure behind the product. Listed tokens and available route choices depend on the network and transaction being quoted.[1]

The dedicated limit-order network page lists Ethereum, BNB Smart Chain, Polygon, Base, Arbitrum and Avalanche. That is a product-specific list, not a statement that every supported swap chain offers limit orders. In particular, broader Solana swap support should not be read as evidence that the same limit-order feature is available there.[16]

Moving or spending tokens after signing a limit order can leave insufficient assets for execution. Matcha’s unfilled-order guide also explains why small orders may be unattractive to takers once network costs are considered. Price control therefore does not establish an execution guarantee or reserve a centralised account balance for the order.[18]

Advanced orders are different from limits. A stop-loss responds to a downward trigger and a take-profit to an upward trigger, then submits a market swap. The displayed amount at the trigger is an estimate after fees. Native assets such as ETH must be replaced by their wrapped form where prompted. Waiting instructions appear in Open Orders; completed or partially filled ones appear in the Advanced history tab.[21]

The current fee page says these rates apply across supported chains, including Solana. Older Auto and cross-chain articles contain inconsistent fee statements; the newer dedicated tariff is used here. Zero swap commission for a stablecoin pair does not remove its network cost.[5][6][7]

Matcha may capture trade surplus from improved execution and receive order-flow auction rebates. Solana network costs can include SOL fees, priority fees and token-account rent.[5]

A separate Advanced-order fee rate was not established in its inspected guide; review the order confirmation.[21]

Auto’s network cost is paid economically through the tokens involved even when no separate native-gas payment is shown. The Auto guide explains that the fee token depends on whether the user specifies the pay amount or receive amount. The user cannot independently select that fee token. If network cost consumes too much of a small transaction, Auto may be unavailable until the amount changes.[6]

Price impact describes how the size of a trade interacts with available pool liquidity. Slippage describes a difference between the expected and executed result. These are distinct from the platform’s published commission: two orders with the same fee percentage can produce different net results if their liquidity or timing differs.[23]

The slippage guide gives a 0.5% default and allows changes in trade settings. It says a transaction should not execute beyond the chosen adverse-price threshold. The tolerance governs execution conditions; it does not predict the price that will be available or guarantee that a pending transaction succeeds.[24]

Matcha’s wallet-funding guide describes direct peer-to-peer trading from the connected wallet without depositing into a central exchange account. Purchased tokens return to that wallet after settlement. Accordingly, the usual custodial-exchange distinction between a trading balance and a requested platform withdrawal does not describe the basic Matcha swap flow.[9]

The fiat-funding article says Matcha does not directly sell crypto for fiat. It describes acquiring assets through an external exchange or fiat on-ramp and transferring them into a supported self-custody wallet. Those providers’ payment acceptance, identity checks, charges and withdrawal timing are separate from Matcha’s swap tariff. The article does not establish a Matcha-operated bank or card cash-out route.[10]

Bridge settlement depends on congestion, gas conditions and liquidity. The FAQ directs unresolved failed transfers to support with relevant transaction hashes. A submitted source transaction is therefore not a fixed-time promise of delivery on the destination chain. The source, destination and quoted route need to be considered together.[7]

For token trading, the approval grants a smart contract spending authority over the relevant tokens. Matcha’s current approval guide identifies 0x AllowanceHolder. For cross-chain trades it describes a default allowance equal to the transaction amount, which can be increased in the wallet. An approval can require native gas before the swap itself.[11]

Disconnecting a wallet from the website is different from revoking an onchain token allowance. Matcha’s allowance guide explains that many wallet disconnection controls leave spending permissions intact. Revocation requires the relevant onchain transaction and gas. This distinction matters when ending a session or removing a previously used integration; browser connection status alone does not describe all outstanding contract permissions.[12]

The homepage labels its token-code risk indicators as outputs from Go+ Security and says Matcha does not verify those results. Its liquidity measure is supplied by Codex, with a defined depth range around spot price. These indicators are inputs for examining a token and its market; neither is an independent guarantee of solvency, liquidity at any order size or protection against loss.[1]

The privacy notice explains that public wallet holdings and transaction records are visible to third parties and may be impossible to modify or remove. It also describes collection of wallet type, token balances, technical data and support communications. Self-custody concerns control of assets; it does not mean that wallet activity is private.[4]

The terms require age 18 or the higher local age of majority, contractual capacity and lawful use. US sanctions and embargo restrictions apply. They do not provide an exhaustive positive country-eligibility list. Access may be restricted under the agreement.[3]

For a previously connected Phantom wallet that no longer appears correctly, the guide describes disconnecting Matcha in Phantom’s Connected Apps settings before reconnecting. This repairs a connection state; it should not be treated as cancellation of a signed limit order or revocation of token allowance.[15][12]

The transaction-failure article identifies insufficient gas limits and prices moving outside slippage tolerance as common causes in its Ethereum examples. It cautions against manually lowering gas settings after confirmation. Those examples explain possible failures; they do not establish the cause of any particular transaction without its wallet or explorer details.[25]

The timing guide says transactions settle on their respective blockchains, with time affected by congestion and gas. Its typical-time description is not an execution service-level commitment. A confirmed trade cannot be cancelled or reversed according to the dedicated cancellation FAQ; an unfilled limit instruction has a separate cancellation workflow.[26][27]

A formal contractual claim starts with written notice to [email protected] identifying the claimant, basis and requested relief. The terms allow 30 days after receipt for informal resolution before the specified dispute process, subject to their exceptions.[3]

The terms identify ZeroEx, Inc. and state that it is not registered or licensed with financial regulatory authorities, naming the CFTC, SEC and FinCEN. This is the operator’s disclosure, not a verified authorisation. No exchange licence or compensation entitlement is assigned here.[3]

Matcha’s company page dates its launch to April 2020 under 0x, initially aggregating Ethereum liquidity. Its history records multi-chain expansion in 2021 and the addition of Auto in the 2023 generation. The page displays more than 502,000 wallets traded and more than $62 billion of volume. These are attributed cumulative website figures with no specified measurement end date, not current active-customer counts.[2]

Matcha Meta compares quotes from other aggregators, while Matcha aggregates underlying exchange liquidity. The official support article treats them as distinct 0x products. Meta’s separate website and routing model do not establish that its features, permissions or support procedures apply unchanged to a Matcha transaction.[29]

Operator

ZeroEx, Inc.

Exchange model

Decentralised

Service scope

Wallet-based spot aggregation, same-chain and cross-chain swaps, limit and triggered orders.

Client types

Retail clients

Pricing publication

Public pricing

Funding scope

Fund a compatible wallet externally; no direct fiat purchase service established.

Custody and asset handling

Assets settle through connected self-custody wallets; token allowances authorise contract spending.

Client eligibility

Adults legally permitted to trade; US sanctions and embargo restrictions apply.

Support

[email protected], ticket form and in-app chat.

Authorisation and registration scope

Terms state that ZeroEx is not registered or licensed by financial regulatory authorities.

Exchange metadata checked 21 Oct 2026Source 1Source 2Source 3Source 4Source 5Source 9Source 10Source 11Source 29

Trade History is available from the connected-wallet menu or the history page. The guide describes network and order-type filters, open limit orders and explorer links for individual trades. Cancel All operates on one blockchain at a time, so orders on two networks require separate cancellation actions. The inspected guide does not establish a complete downloadable tax report or a CSV export.[28]

Cancelling a limit order requires a wallet transaction. The cancellation guide suggests another browser if the control is unresponsive and provides multiple-order selection. This is an alternative interface troubleshooting step, not a promise of dealer intervention during an outage. The transaction should be checked in the explorer after submission.[19]

The 0x developer site offers Swap, Gasless, Cross-Chain and analytics APIs, with dashboard-generated keys and separate developer onboarding. These are infrastructure products for integrations. The page’s example requests a quote; obtaining an API key is not evidence that a third party has acquired authority over a Matcha user’s wallet. Transaction authority still needs to be understood from the actual signing and approval flow.[32]