Limit Order
Introduction to limit Orders
A limit order is a tool from CeFi in which users can buy or sell assets at a specified price or better, instead of relying on the market price at the time of execution. In a limit order, while the price is guaranteed, the order being executed is not - limit orders will be executed only if the price meets the order qualifications.
THENA has integrated the dLIMIT protocol, powered by Orbs, that brings this order type to DeFi in a decentralized manner. Users can use this tool to create decentralized limit orders by following the directions below.
The dLIMIT protocol for DEXs ensures that limit orders are executed at an optimal price and at fair fees, in a decentralized and reliable manner.
💡 How to set-up Limit Orders ?
Prerequisites: Ensure you have a Web3-enabled browser and sufficient balance in your wallet to cover the order amount and gas fees.
Navigate to Limit: Select ‘Limit’ from thena.fi/swap
Select Token: Choose the token pair you wish to make a swap on. As an example, we will swap from WBNB to THE.
Enter token swap quantity: Enter the amount of token you would like to swap.
Limit Price: Type the highest price for trades in your order. Trades will ONLY be executed when the limit price you set is lower than or equal to the spot price.
Place Order: Click ‘Place Order’
Confirmation: After checking the trading details and the disclaimer, click ‘Confirm Order’ at the bottom of the column.
Approve transaction: Confirm the transaction from your wallet.
Once your transaction is approved, your Limit order is now waiting to be executed in the background. You can view the order history and progress on the page.
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