As Decentralized exchange (DEX) development, their functions become more and more advanced, usually adding the function of a centralized exchange (CEX). One of the features is the ability to place limit orders, which provides DEX traders with greater flexibility and efficiency. This paper studies the existing low-level features and their potential implementations.
Unlike market orders, market orders will be executed immediately at the last market price with potential slippage, and limit orders will be executed immediately after reaching the predetermined price. Market orders are used by default in all automated DEXs based on market makers. For starters, they are simple and straightforward. Due to parameters such as the maximum impact on the price, market orders are guaranteed to be executed or fail.
Anton Bukov He is the co-founder of 1inch Network, a distributed network of decentralized protocols. Anton worked as a C++ developer and iOS developer, and then contributed to crypto projects such as MultiToken, NEAR, and Synthetix. Anton also co-hosted a YouTube show, Crypto lunaticDuring the 2019 hackathon, Anton and Sergej Kunz, the possible co-founder of 1inch Network, developed a prototype encrypted exchange aggregator that became the foundation of the entire network.