"What is slippage?"
#JeremyAnswers
When making a trade, slippage is the expected difference between the quote and execution price. It is expressed as a percentage.
Example:
Quoted price - $10
Slippage - 10%
Maximum expected price - $10 * 1.1 = $11
Most swap-protocols allow you to set the maximum amount of slippage you are willing to tolerate before the transaction is cancelled, this is normally called the "Slippage Tolerance".