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I am a beginner using web3py. I want to sell portions of my token holdings at a fast rate. Is it possible to do it without having to put in time.sleep() for the delay of waiting for approval? I tried manually selling a portion of my tokens in PancakeSwap's contract, and it seems to be faster by a long margin.

def sellToken():
    approve = sellTokenContract.functions.approve(panRouterContractAddress, int(tokenPortionToSell)).buildTransaction({
        'from': address,
        'gasPrice': web3.toWei('5','gwei'),
        'nonce': web3.eth.get_transaction_count(address),
    })
    signed_txn = web3.eth.account.sign_transaction(approve, private_key = pk)
    tx_token = web3.eth.send_raw_transaction(signed_txn.rawTransaction)
    print("Approved: " + web3.toHex(tx_token))

    # # Sleep to wait for approval, test 5 second, test 3 second
    time.sleep(8)

    pancakeswap2_txn = contract.functions.swapExactTokensForETHSupportingFeeOnTransferTokens(
                int(tokenPortionToSell),
                0, 
                [tosell_contractAddress, wbnb],
                address,
                (int(time.time()) + 1000000)).buildTransaction({
                'from': address,
                'gasPrice': web3.toWei('5','gwei'),
                'nonce': nonce,
    })
    signed_txn = web3.eth.account.sign_transaction(pancakeswap2_txn, private_key=pk)
    tx_token = web3.eth.send_raw_transaction(signed_txn.rawTransaction)
    print("Transaction ID: " + str(web3.toHex(tx_token)))

Sample sell loop

for x in range(1, 3):
      print("Transaction: " + str(x) + " processing. . .")
      nonce += (x)
      sellToken()
      print("Transaction: " + str(x) + " done!")
      time.sleep(2)

That's a delay of 10 seconds as compared to doing it manually only for 3-5 seconds in Pancakeswap router's contract.

Any idea on how to make an efficient way of this?

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  • It shouldn't be necessary to wait. Creating the transactions with consecutive nonces should be enough.
    – Ismael ♦
    Commented Jun 19, 2021 at 17:10
  • The fastest way to sell your tokens it to sell everything in a single transaction.
    – Mikko Ohtamaa
    Commented Nov 24, 2021 at 11:03

1 Answer 1

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1

Have you tried waiting for the txn receipt using wait_for_transaction_receipt()?

txn_hash = web3.eth.send_raw_transaction(signed_txn.rawTransaction)
receipt = web3.eth.wait_for_transaction_receipt(txn_hash)

wait_for_transaction_receipt() also has a timeout argument. If you experience issues with timeout you can possibly raise that timeout as well. Hope this helps.

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  • I did this and it gives me 5 seconds for the whole transaction to go through. Do you think it can be done faster?
    – Johnny
    Commented Jun 18, 2021 at 19:11
  • @Johnny You could set the poll_latency which may be similar to your original method but this one is at least structured within a loop so it keeps trying until it works. I would suggest you play around with the poll_latency argument here: github.com/fselmo/web3.py/blob/…
    – felipe
    Commented Jun 18, 2021 at 21:09
  • @Johnny Looks like the poll_latency is set to 0.1 seconds already so I'm assuming 5 this is fast enough polling for you. You seem to be getting the fastest time already. If this answer helped you please mark it as satisfactory. Thanks!
    – felipe
    Commented Jun 18, 2021 at 21:40

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