Limit Orders
Last updated
Last updated
Leveraging the elegance of Uniswap v3, Chainlink Automation (Ethereum, Polygon, Optimism, Arbitrum, Binance Smart Chain), and Adrastia (all Oku chains), Oku has limit order functionality available for all Uniswap v3 markets.
The limit order implementation is an active limit order that traders inside and outside of Oku can access thanks to its direct implementation with Uniswap v3. Most importantly, limit orders are all fully onchain and non-custodial.
Traders can place a limit order by navigating to the Trade page, selecting their preferred pool, and confirming that the "Limit" order type is clicked. After entering the input amount and the execution price, the trade can be submitted onchain.
If the limit order option is available for the pool, please create a ticket on Discord, and a developer will promptly enable it for the new market.
Unlike Uniswap v2's requirement to cover the full range, Uniswap v3's concentrated liquidity enables liquidity providers to select specific price ranges. For instance, on Uniswap v2, liquidity providers in the ETH/USDC pool covered the entire price spectrum. In contrast, Uniswap v3 allows providers to choose narrower ranges, such as $1000 to $3000. Oku utilizes this feature to offer limit orders by providing liquidity at a single point within the chosen range. For example, if a user places a bid for one ether at $1500, Oku opens a one-sided liquidity position at $1500 to $1500, effectively a range of zero. Automation helps manage the position, closing it if the price goes below $1500. This empowers users to utilize onchain, trustless limit orders on any Uniswap v3 pool.
