The DeFi aggregator PlasmaFinance is introducing an industry first limit order functionality for its native DeFi DEX PlasmaSwap that allows users to swap at precise prices, paving the way for safer, hassle-free DeFi trading.
May 19, 2021, New York – For the first time ever, DeFi traders on PlasmaSwap can now trade digital assets as if they were using a traditional exchange and set the exact entry and exit points to buy or sell tokens at their preferred price.
This is made possible by the Limit order Feature just released on PlasmaFinance, the all-in-one DeFi dashboard that seamlessly connects to all major DeFi platforms so you can get the most out of your DeFi experience. DeFi traders can now leverage a crucial feature that traditional crypto traders on central exchanges have used for years to professionalize and automate their trading experience.
Best of all, since PlasmaFinance is also a DeFi aggregator, it integrates key DEX protocols like Uniswap. Currently this “Limit Order” function only works for PlasmaSwap. However, Limit Order integration for Uniswap will soon be possible if accessed through the PlasmaFinance dashboard and may work for all other integrated protocols (including Sushiswap and BSC based DEXs)
Regular market orders are still possible, but users can now select two types of limit orders for PlasmaSwap:
- A buy limit order that will only be executed at the limit price you set or lower, if available.
- A sell limit order that will only be executed at the limit price you set or higher, if available.
All users have to do is select the assets they want to trade, adjust the rate and output they want, and submit their limit orders. The tokens or assets they want to exchange are then tied to a smart contract that automatically executes the trade when the desired conditions are met OR until the user himself cancels the limit order. The user doesn’t even need to be online for this trade to take place once the limit order has been submitted.
For a full explanation and detailed step-by-step guide, see this blog post on Limit Order functionality on the PlasmaFinance blog.
ABOUT PLASMA FINANCE
PlasmaFinance is a DeFi dashboard that aggregates the most popular decentralized financial protocols from multiple blockchains. The PlasmaFinance platform offers the industry’s most robust analytics, easy-to-use tools, and access to the most profitable DeFi returns in any log.
PlasmaFinance includes a range of Defi products including its own PlasmaSwap DEX, advanced trading and gas optimization tools, a fiat on / off ramp for Defi, and an IDO launchpad, SpacePort.
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