Limit orders are now available on FlatQube, a high-level decentralized exchange (DEX) based on Everscale and developed by us, Broxus! This means you can now trade tokens on the DEX at an exact price, giving you even more control and flexibility.
Сhanges to the FlatQube interface
We have improved the trading form and added a new Limit Trading option in addition to the AMM (Swap) option, as well as price and depth charts for trading analysis:
After you place a limit order, it will appear in the My Orders block below the chart with all the essential information: price, sell and buy token amounts, fill percentage, and order age. You can cancel your order here if you want to:
At the bottom you can see all other active orders, with the possibility of accepting and executing them yourself, and the entire trading history:
How to use limit orders on FlatQube DEX
To use the Limit Trading option, select it in the trading form. Now you have two ways to decide on a trade: by amount or by price. If you open the lock icon and set the amount for both tokens, the DEX will automatically calculate the price according to the amounts entered:
On the other hand, if you close the lock icon and set a specific price for a trade, then after you set one of the token amounts, the DEX will automatically calculate the second one according to the price:
As you can see, for your convenience, the DEX will warn you whenever you set the price below the market, and you can always set the market price by clicking the Market Price button.
Once you have done all of the above, just click the Make an Order button and confirm the transaction – your order will be placed on the blockchain and will appear in the My Orders block.
Limit order execution mechanism on FlatQube DEX, explained
So you have placed a limit order on FlatQube. What are the ways it can be executed? There are three:
- P2P: Another trader manually accepts your order and executes it in full or in part.
- Order Matching: If there is an order that matches yours, the DEX will automatically execute both orders in full or in part.
- AMM: When the market matches your order, the DEX automatically fills it (it carries out a swap in the pair you have selected).
For the latter two ways, there are two modes provided in smart contracts:
- The backend triggers the match.
- Another trader triggers a match for the difference as a reward (this is a fallback in case the backend is unavailable to guarantee decentralization).
The DeFi world does not stand still, and neither does FlatQube. With Limit Trading as the latest addition, you as a user have more flexibility with your Web3 trading and more interaction with other traders on the Everscale blockchain. So, ready to take your trading to the next level? Try out FlatQube limit orders now!
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