PlasmaSwap by Plasma Finance Now Has Limit Orders: Details
PlasmaFinance (PPAY) is one of the pioneering decentralized financial ecosystems designed for "yield farming" strategies aggregation adds crucial functionality to its DEX.
Limit orders go live on PlasmaSwap
For the first time in the entire history of decentralized (on-chain) cryptocurrencies trading, a limit order instrument is added on DEX. PlasmaFinance (PPAY) is thrilled to announce that the customers of its PlasmaSwap exchange can now have their trading strategies automated.
Limit order is one of the simplest and most popular instruments of a centralized exchange. It eliminates the need for manual tracking of price dynamics.
Two types of limit orders are activated on PlasmaSwap: "limit buy order" and "limit sell order." A "limit buy" order executes only at the limit price set, or lower, while "limit sell" executes at the limit price set or higher.
So, to trade with limit orders, users just need to select assets for trading and adjust exchange rates and outputs desired. Once an order is placed, funds are automatically locked in a smart contract.
More integrations to come
Then, funds are released either when limit order conditions are met or when the user cancels the order himself/herself.
The PlasmaFinance (PPAY) team also announced the upcoming implementation of this function into other popular decentralized exchanges (DEXs), like Uniswap (UNI).
This functionality can be integrated via the PlasmaFinance dashboard. Primarily, limit orders by Plasma Finance will go live on Binance Smart Chain's decentralized exchanges and on SushiSwap (SUSHI).
Vladislav SopovAs covered by U.Today previously, Plasma Finance (PPAY) launched decentralized tokensale platform Spaceport.
Arman Shirinyan
Alex Dovbnya
Dan Burgin