Providing liquidity to Jioswap is highly risky. Before using the protocol, we highly recommend reading the code and understanding the risks involved with being a Liquidity Provider (LP) and/or using the AMM to trade pegged value crypto assets.
Using Jioswap as an exchange user should be significantly less risky, but keep in mind there are still risks.
Permanent loss of a peg
If one of the assets in a pool significantly depegs, it will effectively mean that pool liquidity providers will be left holding only that asset.
Reset token approval to 0 when having partial approval beforehand. As some tokens (eg. USDT) do not comply to ERC20 standards for approve function, when using limited approvals, you may have to reset the approvals to 0 before changing to another value. If gas usage is your concern, we recommend using unlimited approvals. Otherwise, we recommend using limited approvals for added security.