BTCBot Launches Full Trading Market, introducing BRC20 Limit Buy Order for the First Time
The trading market is filled with countless buyers and sellers, and the trading platform acts as the place where these different parties are matched to complete transactions. In BRC20, many trading platforms like Unisat and OKX Ordinals Marketplace currently only support limit sell orders, lacking limit buy orders. This limitation results in inadequate market liquidity.
Sell Order
Before BRC20 tokens are listed on trading platforms like OKX or Unisat, they must be minted first. For instance, if you want to sell 2000 $BPIX (a BRC20 token), you must first inscribe these 2000 $BPIX into an inscription. Then you can set a price for this inscription and list it on a trading platform, waiting for the order to be filled.
Listing a limit sell order does not require additional transaction fees, the only cost is the gas fee for minting. On BTCBot.pro, when users utilize the “Limit Sell Order” feature, they can list an order on Unisat and OKX simultaneously with zero gas fees. By listing the same inscription in two trading platforms, the probability of the sell order being executed increases.
For the sell order feature, BTCBot.pro has simply implemented an aggregation optimization, with the focus of this update being on the buy order feature.
Buy Order
The buy order feature of BTCBot.pro offers the following 4 advantages:
Zero Cost
Users can modify or cancel the limit buy order at any time after setting the limit price and limit amount, no gas fee is required.
Slippage Setting
When the price of a token falls within the buy order range set by the user, a transaction is triggered. However, the network gas fee during order execution can impact the overall price of the token. For example, let’s consider an order with a quantity of 100 tokens priced at $1 each, but the current transaction requires a $9 gas fee. BTCBot.pro will automatically calculate the overall cost as (100+9) ÷ 100 = $1.09. At this point, the slippage is 9%. If the user has set a slippage of 10%, the buy order will be triggered. If the user has set it to 5%, the order will not be triggered to avoid the high overall cost of purchasing tokens. The larger the quantity of tokens in an order, the smaller the slippage will be.
It’s important to note that the “slippage” mentioned here is specific to the BTC ecosystem and differs from the slippage encountered in mechanisms like Uniswap’s automated market maker (AMM). In AMM, the liquidity pool size affects slippage, while in BRC20, the BTC transaction Gas Fee influences slippage.
Through the slippage setting, users can efficiently filter and select the orders they truly want, effectively controlling the comprehensive cost.
Order Book Management
In the current BRC20 ecosystem, most trading platforms don’t support the limit buy orders feature. As a result, market makers, project teams, and other institutional participants can’t effectively manage the order book and can only manage it through market orders. This significantly impacts the trading activity and depth. However, the limit buy order feature on BTCBot.pro can address this issue, allowing project teams and market makers to manage the order book.
Auto Match
On BTCBot.pro, you can easily view the current amount and quantity of the limit buy orders. Holders (sellers) can check the order depth and choose the price at which to sell, while buyers can place bids to acquire chips at lower costs. BTCBot.pro enables automatic matching of trades between buyers and sellers.
As BTCBot.pro continues to develop, its limit buy and sell orders feature will make trading more convenient for end-users and provide easier access for institutional investors to the BRC20 ecosystem, potentially enhancing overall liquidity in the BRC20 ecosystem.
In the future, BTCBot.pro will gradually introduce features such as planned orders and order book trading, making it more intuitive and convenient for users to observe and trade.
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