Order Types and Fee Structure
Dexalot currently supports two types of orders: Limit and Market orders
- A limit order is an order with a maximum or minimum price to buy or sell at, respectively. These will only be filled if the order book already has a maker order available at the same or better price.
- A market order is an order to buy or sell immediately. It is automatically matched with the best bid or best ask in the order book. These types of orders are guaranteed to be filled. However, a market order may get a partial fill and then killed for the remaining amount in the following circumstances.
- A very large market order takes out the entire book and there are no maker orders left.
- A very large market order execution price falls by more than 20% from the very first fill page.
- Orders are matched first by price, if there are multiple orders at the same price in the order book, FIFO (First In First Out) principle is applied.
Maker and Taker orders:
- Maker Orders are limit orders put into the order book. They provide liquidity, hence they have less fees compared to taker orders.
- Taker Orders can either be limit or market orders. If they get any fills when they are first entered, they are considered taker orders. Since they take liquidity, fees are higher compared to maker orders.
- It is possible for an order to have both taker and maker characteristics. For example- a sizable limit order can be entered, and it can have an immediate partial fill; which will make it a taker order and a taker fee is assigned. But if there is no more liquidity at that price, the remaining amount will be entered into the order book. Later, the remaining amount can receive a fill from another market participant. At that point, the order will be a maker order and will only have a maker order fee for the partial fill.
Fee structure for deposits and withdrawals:
- Deposit fees are currently at 0%.
- Withdrawal fees are currently at 0%.
Dexalot is a revolutionary decentralized exchange aiming at bringing the traditional centralized exchange look and feel to a decentralized on-chain application. Its mission is to bring a truly inclusive and transparent environment where Dexalot users can trade crypto securely and efficiently, with no slippage or custody risk. It is built on Avalanche, the fastest smart contracts platform in the blockchain industry.