Guide to Bancor Limit Orders

This article was first published on Bancor - Medium

  • Bancor now supports limit orders using KeeperDAO and 0x Protocol!
  • Traders can perform limit orders on between any two tokens in the network
  • Placing the order requires no gas. Gas is paid by the user who eventually fulfills the order.
  • Limit orders are one of many new trader-focused features designed to make Bancor a one-stop shop for trading and farming any token

How to use Bancor limit orders:

1. Go to BancorSwap

2. Select your trading option:

In the swap widget, toggle between “Market” price (execute a trade at the current price) or “Limit” (trade at a pre-determined price):

2. Set your limit order

Select the FROM token and TO token. As an example, say I want to buy BNT when the price reaches 3% above its current price in USDC.

And I want the order to last for 7 days:

3. Confirm and sign the transaction

After confirming the terms, you’ll see a transaction on your MetaMask (or whichever supported wallet you’re using) with details of the transaction. Interaction with the KeeperDAO system occurs off-chain and costs no gas for the user.

4. Track your order

Once signed, you’ll see a new order appear in the table below the swap widget that will show the pending limit order:

5. Possible next steps

  1. Order execution — when the order is executed fully/partially, the “filled” column will indicate the percentage of the order that was fulfilled
  2. Expired/fulfilled orders — when an order expires or is completely fulfilled, it will stay visible for some time before disappearing from the table.
  3. Canceling an order — to cancel a specific order, you can click the “X” at the end of the row and sign an on-chain transaction to remove it from the queue.
  4. Canceling all transactions — to cancel all transactions click the “Cancel All” button and sign this on-chain transaction.
  5. ...

To keep reading, please go to the original article at:
Bancor - Medium

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