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Placing Range Orders on Uniswap V3 (Polygon) Using Sorbet Finance

You can now place range orders on Polygon‘s Uniswap V3 using Sorbet Finance

After months of development and testing, we are finally unveiling our specialist Range Orders system, allowing users to place Range Orders on top of Uniswap V3 using Sorbet Finance — Powered by Gelato.

Firstly, what are Range Orders?

Range Orders allow users to provide liquidity in the form of single-sided assets with the intention of swapping to another desired asset when the user-specified Range Order price is met.

Previously done manually, users are now able to automate the entire process of executing a Range Order by allowing the Gelato bots to monitor your range order price and successfully execute the order on your behalf when your desired Range Order price is met.

The beautiful thing about Range Orders is that they allow users creating a Range Order to generate fees while waiting for their order to be filled. This is because your Range Order is technically placed in the form of liquidity provisioning instead of a typical swap.

This much-anticipated feature has been a long time coming and it’s finally here! By the end of this walkthrough, you should feel confident enough to understand the concept of Range Orders, as we simplify the process of placing these orders directly in-house — on Sorbet Finance.

* Note: Range Orders are now live only on the Polygon Network, supporting more chains in the near future.

How to place Range Orders on Sorbet Finance

Step 1: Go to Sorbet Finance — Range Orders

The first step is to navigate to Sorbet Finance where you will now find the newly introduced Range Orders tab on the top pane.

Next, as you normally would — connect your preferred wallet to Sorbet Finance and ensure that you are switched over to the Polygon Network. In this example, we will be using our MetaMask wallet.

We are now ready to continue creating our Range Order.

*Note: You will only be able to place Range Orders between assets that already have an established LP Position.

Step 2: Select the tokens you will be placing the Range Order for

Click on “Select a token” — in our case, search for “USDC.”

In this example, we will be placing a Range Order with the intent to convert our 4 MATIC for USDC when the price of 1 MATIC = 1.5 USDC.

Step 3: Enter your desired price and select a Range Order price

We simply specify a Range Order price of 1.5 USDC. Once our Range Order price is specified, we are then presented with two different tick ranges, select the price that makes more sense to the order that you are placing.

You are only able to select one of the two tick ranges provided

*Note: Max fee simply refers to the maximum amount of fees charged within the transaction once the Range Order is successfully executed. Not the entire 1 MATIC fee will be used, the transaction will use only the necessary amount of gas to ensure the transaction is completed successfully — and the remaining will be returned to the user.

Step 4: Place the Range Order

Go ahead and press “ Place Order” to be presented with your Order Summary — if everything looks correct you can then Confirm the Order.

Open Orders will then be displayed in the Open Orders tab below. Once your Range Order is successfully filled, it will then be moved over to the Executed tab.

After the market price crosses through your Range Order price, your supplied asset will be successfully converted to your desired token completing the Range Order.

*Note: Range Orders will automatically expire if not exercised at the expiry time.

Thank you for reading our walkthrough on how to successfully place Range Orders on top of Uniswap V3. If you require any further guidance — please do not hesitate to contact us directly via our Gelato Community Chat on Telegram & Discord.

About Gelato Network

​​Gelato Network is web3’s automation network, enabling developers to automate & relay arbitrary smart contract executions on and across all EVM-based compatible blockchains such as Ethereum.

Gelato’s goal is to provide developers with a reliable, scalable & decentralized network to which they can outsource all of their web3 related DevOps operations.

Examples of which features are powered by Gelato include:

  • Limit Orders on PancakeSwap
  • Periodically updating debt ceilings on MakerDAO
  • Offering users gasless token claims on Connext
  • Automatically compounding yield farming vaults on Beefy Finance
  • Automating the breeding of new digital racehorse NFTs on ZED RUN
  • Rebasing of algorithmic stablecoins with Tomb Finance
  • Updating price oracles on Abracadabra

► Check out what we’ve been working on at 🍦 https://gelato.network/ 🍦

► Automate your smart contracts at https://app.gelato.network/

Connect with us:

🐦 Twitter | 💬 Telegram | 📺 YouTube | 🔗Linktree

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