📈V3 Limit Orders
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In the Biswap AMM V3, we're introducing a popular trading tool called limit orders. But what exactly are limit orders? It’s a convenient feature to make the most out of your trades. So you can make a limit order with a 0% trading fee and no slippage, establishing your desired price to sell or buy tokens. The order will only be executed if the market price of your crypto reaches the specified limit price.
For instance:
Kate wants to sell her BNB tokens and decides to set a price range between 300 and 310 USDT per BNB. So, if the price goes above 310 USDT, her limit order will be considered successful, and she'll sell her BNB at an average price of around 305 USDT.
A crucial thing to remember: these limit orders work in both directions. If the price drops below 300 USDT per BNB, Kate's order will become active again, allowing her to buy BNB instead.
Now, here's what sets Biswap apart from other V3 protocols. Unlike them, you don't need to monitor your order's price constantly. You can simply add liquidity at a specific price, and that liquidity will only go in one direction.
Let's say Kate sells her BNB for 305 USDT per BNB. She places a limit order at this price. If the price reaches 310 USDT and then drops back down to 300 USDT, Kate can still withdraw her USDT, no matter what the current price is.
In a nutshell, with Biswap V3 limit orders, you have more control and flexibility in trading. You can set your desired price range and let the system work for you.
Important to note
📍 If the token price is volatile, the order may only be partially filled. For example, for 63% of the specified amount.
📍 Volumes made via limit orders are added to the Total Trading Volume (made via the Exchange page).
📍 To make a limit order, users can use trading pairs available in the V3 AMM protocol only.
Let's imagine you want to buy BSW tokens.
Step 1: Connect your wallet and head to the 'Limit' tab.
Step 2: Select the desired crypto pair, and set the price and quantity for your limit order. Approve each token.
Step 3: Confirm the order.
Step 4: You've created a limit order! Click the 'My Orders' button to see all your orders and their status.
Now you have to wait for the market price to reach your specified limit. Your order will be executed automatically when the limit is met.
