Limit Order

A limit order allows traders to specify the exact price at which they want to buy or sell an asset, giving them precise control over trade execution. Instead of accepting the current market price, limit orders execute only when the market reaches the specified price or better.

Reward System

One important element when creating a limit order on the Bidask Protocol is the Reward. This reward acts as an incentive paid to a third party who executes the order on behalf of the trader. Since limit orders on a DEX require someone to actively fill them, the executor incurs blockchain transaction fees (gas fees) to complete the trade. Currently, rewards can only be paid in TON tokens, with a recommended minimum of 0.5 TON to ensure timely order execution. The list of accepted assets for rewards will expand in the future.

Execution Features

Limit orders can also be executed partially, allowing the executor to gradually swap tokens based on available market liquidity. This setting is enabled by default. Furthermore, limit orders can have an expiration time, after which they are automatically canceled. In such cases, traders can reclaim both the full reward amount and the tokens they intended to trade.

Reserve

Another important aspect is the Reserve, a small amount of TON cryptocurrency set aside to guarantee the successful delivery of transaction results back to the trader's account. Typically, this gas reserve is not spent and is fully returned to the trader after execution.

All parameters of a limit order can be reviewed in the transaction details before submission, ensuring transparency and control over the trade process.