To begin using the Mate's Limit Order, first, connect to your Metamask or use WalletConnect to connect to your wallet.
Navigating the Limit Order
There are several interactable actions in the limit order menu. Read more below on what these are:
1.
You Pay
2.
Rate
3.
You Receive
4.
Expiration
5.
Placing Order
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1. You Pay
You can pick and select any BEP20 tokens by pasting their token address into the field. The balance will display your token balance within your wallet.
The token is sorted descending based on your wallet balance.
You can click MAX to trade your entire balance.
If you have active limit orders, you can click on the (?) to see the available balance that you can use for opening another limit order.
Although Mate is non-custodial, you cannot open limit orders without having sufficient balance for your next limit order.
2. Rate
This field will appear empty by default until you click the current rate OR input your desired rate. β
The order will always get executed at the best possible rate, which is minimum at the rate you specify and higher.
Switching your token selection will update the UI accordingly.
For example, 'Per 1 WBNB' will be displayed as 'Per 1 CAKE' if you change it to CAKE.
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Current Rate
As long as there is liquidity from AMMs, the current rate's field will fetch the price data from the AMMs.
Since we are primarily sourcing liquidity from Pancakeswap, the current rate will use the Pancakeswap swap price as a reference. Using Mate will allow you to change the swap price for your orders, while Pancakeswap does not allow you to change your order prices.
By clicking on the 'Current Rate', it will autofill the field with the current price. You can type in any price rate you want to exchange for or pick a price close to the current rate for the fastest execution time.
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3. You Receive
This token selection is the option of the token you wish to exchange.
You can either pick from the list or paste the BEP20 token addresses here.
Once you input the amount of token you want to pay at whatever rate, 'You Receive' only shows the minimum amount you will receive before the limit order execution.
Also, there will be a summary shown below:
1.
You Pay (?)
2.
You Receive (?)
3.
Fees (0.2%) (?)
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4. Expiration
You can change how long the limit order should remain until it expires.
The available options are 1D, 3D, 7D, and 30D.
Once the expiration time reaches, your unfilled limit order will automatically cancel, refunding your limit order fee.
Take note, the default network gas fee will not be refunded.
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5. Placing Order
Once you have checked everything, click 'Place Order'. A pop-up will appear for you to verify your order. Click 'Place Limit Order' to confirm.