Good News!!!
Starting 10AM UTC March 31, 2022, Swaperry is one of the few DEXes to enable DeFi traders to place Limit Orders. You will be allowed to set limit orders at https://swaperry.com/pair-explorer/0x3B4497Ab80B574f14d081822D9B9410E05A759D6 for any token on our platform, bringing more transparency to the entire ecosystem.
What is a Limit Order?
A Limit Order is an order when traders decide to buy/sell a token at a specific price or better. While a buy limit order can be set at the limit price or lower, a sell limit order can be executed at the limit price or higher.
Currently, Swaperry will only support the Binance Smart chain network. When the market price matches the price set in the limit order, a taker can fill it. It is important to note that you will not need to pay any fees when placing an order.
How does Limit Order benefit Swaperry users?
Swaperry reached the decision to put on chain order as one of the features of our DEX with the aim to bring more transparency to the ecosystem. Limit order simply creates limit orders on a blockchain. Using our own smart-contract-based system, traders may set up automatic trading instructions to take advantage of market opportunities.
How to Set a Limit Order?
Step 1: Go to https://swaperry.com/swap and Connect to your wallet with BSC network.
Step 2: Select “Pair” on left menu and search pair you want place limit order.
Step 3: Enter the order information to limit order form.
(1) Amount of source token. This is the amount of tokens you can spend in exchange for the destination token.
(2) Lock/Unlock price. If in the unlocked state (show “Lock” text), the price will be set to the market price. Otherwise, the price will be fixed the value entered.
(3) The price of the source token. Example, if the source token is WBNB, destination token is PERRY and price is 50.000, so 1 WBNB = 50.000 PERRY.
(4) Order period expires. After this period from the time of place order, anyone cannot fill this order.
(5) Reverse the source token and destination token.
(6) Amount of destination token. Amount destination = Amount source * price. This is the amount of tokens you will receive if your order is full fill.
(7) Warning if you place a limit order with an insufficient balance. You can still place orders. However, it will not be filled until you have enough tokens.
Step 4: Click “Approve” to grant permission for smart contract (if not done before) and click “Place order”.
Now you are all set to join Swaperry Limit Order! Save the date and participate in the Limit Order launch: 10AM UTC on March 31, 2022!
Keep your eyes peeled as we will release new updates for the upcoming progress. We’re building a next-generation DEX, and we’re providing you with the tools to come with us.
About Swaperry
Swaperry is a fully decentralized exchange for all things DeFi. One of our largest differentiators is our ability to innovate and bring about exclusive inventions not seen on other DEXes. Swaperry’s first product to be launched is a unique NFT-based prediction trading game that has gained significant traction recently. Our ambitious goal is to soon bring the stock market to our exchange, closing the gap between traditional finance and DeFi.
Most of Swaperry’s core technology is built on top of the Polkadot ecosystem, which offers scalability, noticeably faster transactions and cheaper fees. The project has raised $1.6m from well known investors in multiple funding rounds.
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