Creating a Limit Order
Last updated
Last updated
First, connect your wallet to create a new limit order.
Once the wallet is connected, choose the tokens you want to exchange on both the "From" and "To" fields. Select a token from your holdings or wallet through the "From" field and the token you wish to exchange it for through the "To" field. The token on the "To" field will be the token you will get as a result of the limit order execution. Once the tokens are selected, input the number of tokens you wish to exchange in the "From" field and input the price on the "Price" field for which you wish to execute the exchange. For example, if you want to sell 0.01 BNB at the desired price of 1 BNB = 350 BUSD, you can put 0.01 in the "From" field and 350 in the "Price" field. The "To" field will automatically reflect 3.5 BUSD.
You can also create the order by filling in the "To" field directly for what you would like to exchange. For example, if you want to exchange 0.01 BNB for 3.5 BUSD, the ”Price” field will automatically calculate and be filled with 350 as the desired price.
The current balance of a selected token in your wallet will be shown in the "From" field . There are balance selections displayed in percentages of 25%, 50%, 75%, and 100%, available to simplify the desired amount for your transaction. There is also a "Market Price" button available that you can select to make a trade at current market price. By clicking the "Market Price" button, the current market price will automatically adjust.
You will be able to see the estimated total charge in advance. GDEX charges a fee of 0.2% per transaction. There are also network gas fees, not applied by GDEX, that are needed to complete the transactions.
You will also be able to see the Route used for the conversion of your tokens. As an example, if there is a pool on PancakeSwap, it is a direct route (e.g. BNB -> BUSD), otherwise multiple routes will be required (e.g. GDOGE -> BUSD -> ETH).
Once all of the information is entered, click on the "Sign In" button to sign into the system. The system is required to store all of your orders and display the information to you anytime you sign in. This will prompt the metamask sign-in popup. You can approve the signature request by clicking the “sign” button at no cost.
After signing in, the "My Orders" list will appear at the bottom of the screen. This will list all your previous orders, either queued, completed, failed or canceled.
After clicking the "Place Order" button, it will prompt open the metamask popup with a signature request of your wallet for approval of token usage. Once you sign the signature request, you will be shown a deposit dialog. This will be done at no cost.
You can now deposit your money for the limit order and confirm the transaction on metamask to proceed. You may also cancel and deposit the money at a later time . If your deposit is successful, it will appear as a "Queued" in the "My Orders" list. If you cancel the deposit, it will appear as an "Pending Payment" order.
It will appear as completed once the limit order is successfully executed.
Please Note:
1. You cannot create new orders if there’s a Pending Payment order in your account. You have to pay the pending payment first to create more orders.
2. Orders can be created from the unlocked balance if there is enough money in your current balance to create the order.
3. BNB is taken from your wallet and sent to our Limit Order Contract if you create orders that sell BNB for other tokens.
4. For token Limit Orders other than BNB, approve the signature request by clicking the "Sign" button for access to tokens within the wallet. The tokens will remain in your wallet. Once the conditions have met the limit order requirements, the tokens will be withdrawn from the wallet.
Attention: If you remove tokens while a limit order is pending, and there is an insufficient amount of tokens in the wallet to cover the transaction for the limit order, the order will fail.
