SECURED FINANCE USER GUIDE

Placing Limit Order

Test Pilot V2 Training Program

Secured Finance Official
Published in
4 min readJul 13, 2023

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Let’s place some limit orders on Secured Finance Orderbook. Before we blast off, make sure you’re connected to our platform, have some ETH in your wallet, and are ready to make waves. New here? Don’t worry! Our user guide at the bottom of the page will get you up to speed.

In the world of trading, a limit order is a type of order to buy or sell an asset at a specific price or better. On Secured Finance platform, you have the power to dictate your own price for the limit order, which can range from 0 to 100. However, it’s important to understand that not all limit orders will appear in the Orderbook. If you place an overlapping limit order, it acts as a market order and gets filled immediately; hence it will not appear in the Orderbook.

Go to our Advanced UI by toggling from Simple to Advanced on our webapp.

Our Advanced UI shows a more comprehensive view on each Orderbook.

Let’s choose your asset. (Select Bitcoin as your asset.)

Now, choose your maturity date (currently, we offer up to 2 years loans.)

For the purpose of this guide, we’re going to choose Limit and set a limit order price that does not overlap the bid-ask spread. This ensures that our order will be clearly visible in the Orderbook. Now, punch in the amount of Bitcoin you’re looking to borrow or lend, and hit ‘Place Order’.

Limit

Need some insider knowledge on setting the perfect price? Check out this tip that spills the beans on price-setting strategies.

Borrowing

Placing a borrow limit order? Remember first to provide collateral. You can borrow up to 80% (LTV) of your collateral.

Deposit Collateral
Limit Borrow

Lending

Placing a lend limit order? Choose your source. Lend from your wallet or your asset held at Secured Finance’s Vault.

Wallet or Vault
Limit Lend

Confirmation Window

After placing orders, you will see a confirmation window popping up (we’re always adding cool stuff, so stay tuned!). Double-check the details, and when you’re ready, click ‘OK’.

Once ‘OK’ is clicked, you will need to confirm execution using your MetaMask wallet.

A few seconds later, you’ll get confirmation that it succeeded. The Transaction Hash will bring you to view your transactions on Etherscan.

Where is my order?

Let’s head over to the Orderbook. Here, you can see your order listed among others.

Borrowing Order
Lending Order

You have successfully placed a limit order and provided liquidity to Secured Finance. Keep an eye on the Orderbook as market conditions change; your order might be executed sooner than you think!

Now, you’re not just a spectator; you’re an active participant in the DeFi bond market on Secured Finance. The power to set your terms, choose your assets, and engage in bond trading is now at your fingertips. This is just the beginning. As you venture deeper into the world of DeFi bond trading, you’ll find that the possibilities are as vast as the ocean.

Step-by-Step Guide Series

DeFi Apps Onboarding Guide

This guide will walk you through the steps you need to take to start using DeFi apps. You’ll learn how to set up your MetaMask wallet, connect it to DeFi apps, and get test ETH from Sepolia faucets.

  1. Setting up MetaMask Wallet
  2. Connecting Your Wallet
  3. Getting Test ETH from Goerli Faucets (We have moved to Sepolia!)
  4. Getting Test ETH from Sepolia Faucets

Secured Finance User Guide

This guide offers a concise walkthrough of the platform, covering key aspects from preparing test tokens and managing collateral to executing transactions. It also delves into advanced trading strategies that are unique to Secured Finance.

  1. Preparing Test Tokens for Practice
  2. Collateral Management
  3. Borrowing with Simple UI
  4. Lending with Simple UI
  5. Trading at Itayose (Pre-Open) Order Book
  6. Placing Limit Order (This Article)
  7. Add/Reduce or Unwind Position

Secured Finance Official Links

Website | Twitter | GitHub | Galxe | Link3 | Guild

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