Mate: Enabling Limit Orders on BSC with Guaranteed Execution
MATE is a DEX that allows you to place limit orders on any BSC tokens without risking frontrunning by bots or losing unpredictable slippage. The best part is, every limit order always executes flawlessly like how you expect it to be.
For folks who may not know what DEX means, DEX is a Decentralized Exchange. Meanwhile, CEX is a Centralized Exchange.
Introducing the Mascot — Yerbie
Yerbie is an energetic cup filled with good vibes and green freshness to ensure the bullish green candle across the seasons.
Yerbie is here to the rescue you from unpredictable slippage and fees from DEXs
MATE’s long-term vision is to become a highly capital efficient & rewarding trading platform built upon open-source protocols.
Why did Mate start?
Mate aims to help you to reduce losses via a DEX.
Currently, the most popular DEX in the BSC ecosystem is Pancakeswap, which trades around $400-$500M per day. Every trader on Pancakeswap executes their buy order via market buy. High chances that you are not getting the best deal for your bucks.
You can make this comparison by testing the BNB/USDT pair in both Pancakeswap & Binance.
As of today, 1 BNB is worth $315.
If you were to trade it to USDT,
In Binance, you will be getting $3,153 for 10 BNB via limit order.
In Pancakeswap, you will be getting $3,137 for 10 BNB via market order. (This is the maximum output estimated, you may be getting less.)
How MATE differs from other DEX that has Limit Order?
MATE’s limit orders are guaranteed to execute if the prices meet the buy or sell zone.
The limit orders are also not placed on any centralized database. Order is placed via interaction with Mate’s smart contract and executed via a network of executors.
In short: Guaranteed Execution, 100% Decentralized.
What are limit orders?
A limit order is to buy or sell an asset at a specific price (limit price) or better. A buy limit order can only be executed at the limit price or lower, and a sell limit order can only be executed at the limit price or higher.
How does it work?
Here’s a simple scenario:
You wish to spend 2 BNB ($315 per BNB) to buy MATE at $10 each.
- Create an order for 2 BNB. Your limit order may display as buying 63 Mates ($630) with 2 BNB ($630).
- The executors within the network will pick up your pending order.
- Once the price condition is met from the limit order, the executors will execute the buy order. The executor will never execute your order if the price condition is not met.
- A small amount of transaction fee will be given to the executors for completing the orders.
Staking for ORK ecosystem
Now that we introduced limitless orders and power tools for DEX users to trade better.
Great news and updates for ORK hodlers! With the launch of MATE, the platform will be introducing Staking and Farming! This feature will enable you to farm exclusive community-chosen and curated pairs.
At launch, the initial pairs would be:
- ORK-BNB LP
- MATE-BNB LP
Expect to see more pairs coming out in a short time.