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Limit order protocols offer more flexibility and efficiency to DEX traders

Published 11/13/2021, 06:11 AM
Updated 11/15/2021, 08:00 AM

As decentralized exchanges (DEXs) evolve, their functionalities become more and more advanced, often matching those of centralized exchanges (CEXs). One such functionality is the ability to place limit orders, which offers more flexibility and efficiency to DEX traders. This article looks at the existing limit order features and their prospective implementations.

Unlike a market order, which is executed immediately at the last market price with potential slippage, a limit order is executed at a predefined price as soon as it is reached. Market orders are used by default in all automated market maker-based DEXs. They are simple and straightforward for beginners. A market order is guaranteed to be executed or fail due to parameters, such as the maximum price impact.

Anton Bukov is the co-founder of the 1inch Network, a distributed network of decentralized protocols. Anton worked as a C++ developer and iOS developer and later contributed to crypto projects including MultiToken, NEAR and Synthetix. Anton also co-hosted a YouTube show, CryptoManiacs. At a 2019 hackathon, Anton and Sergej Kunz, the 1inch Network's eventual co-founder, developed a prototype crypto exchange aggregator that became the basis of the entire network.

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