Limit Order On Quickswap
This article will explain what Limit Order is and how to utilize it on Quickswap…..
The Big Question: What is Limit Order
A limit order is a buy or sell order with a defined price. Setting a maximum or minimum price you’re willing to buy or sell an asset is required to make a limit order. Your order will be entered into the order book and executed only if the market price meets the limit price (or better). Your limit order, however, may or may not be executed. Your trade will go unfulfilled on the order book if the market price never reaches the limit price.
Quickswap users are able to receive their swaps at desired prices using a Limit Order, which would allow them to leave instructions for filling buy or sell orders at precise prices (or better prices). For example, if you believe an asset is currently overpriced or expect prices to fall throughout the day, you may simply place a Limit Order to buy at a price lower than the current market price. It’s entirely up to you how far down you want to go.
When should a limit order be used?
You can use a limit order in the following situations:
- You are not in a hurry to buy or sell immediately;
- You want to split your orders into smaller limit orders to achieve a dollar-cost-averaging (DCA) effect.
- You want to buy or sell at a specific price other than the market price;
- You want to lock unrealized profits or minimize potential losses;
With Limit Order
- No unplanned losses, less price impact: It’s something we’ve all experienced. We’re approving a swap when slippage spikes, and we buy tokens at a far greater price than they were only seconds previously. Limit Orders ensure that orders are only filled within your desired price range.
- No more missed opportunities: How many trades have you missed because the pricing was only available for a short time? Limit Orders will fill your order as soon as the specified price range is reached.
- You’ll have more time to live your life: When DeFi traders go to bed, they don’t make any swaps. Limit Orders, on the other hand, allow you to leave your computer and live your life. Your swaps will still happen, at the prices you want.
How to place a limit order on Quickswap
Let’s say you want to buy $MATIC at a lower price than what is currently being bid. You can place a buy limit order and specify a maximum price you’re willing to pay.
- Go to [Limit order] on the top navigation bar.
- Choose a stable coin [USDT, USDC] from the token search bar on the Limit order card, since Matic our case study is there by default.
- Then, set the price and amount you want to buy.
- Permit Gelato limit orders to use your [USDC] stable token.
- Click on [ Place Order ]
- Your order is currently being processed and can be seen below.
You might want to explore this feature on Quickswap. A limit order can be a great trading tool when you want to buy or sell a coin at a certain price.
QuickSwap is a fork of Uniswap developed by Nick Mudge and Sameep Singhania on the Polygon blockchain platform. QuickSwap is a permission-less decentralized exchange (DEX) based on Ethereum but powered by Polygon’s Layer 2 scalability infrastructure.
QuickSwap has all of the popular features of top DEXs, but it also has the missing key components for a completely smooth user experience. Some important features of QuickSwap include:
- Community Governance
- Liquidity Mining
- Yield Farming
- Dual Farming
- Layer 2 Transactions
- Non-custodial trading
For More Infomation: