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PlasmaSwap by Plasma Finance Now Has Limit Orders: Details

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Wed, 05/19/2021 - 13:02
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Vladislav Sopov
PlasmaSwap, a native decentralized cryptocurrency exchange of PlasmaFinance DeFi, activated crucial functionality: limit orders
PlasmaSwap by Plasma Finance Now Has Limit Orders: Details
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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.

PlasmaFinance implements limit orders on PlasmaSwap
Image by Plasma Finance

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).

Related
PlasmaFinance Launches Decentralized Tokensale Platform Spaceport

As covered by U.Today previously, Plasma Finance (PPAY) launched decentralized tokensale platform Spaceport.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)