1. What’s the difference between a limit order and the swap function usually in decentralized trading?
Limit order trades will only be executed when the set price is hit. Whereas swaps are executed based on the market rates at that point in time
2. Why can’t I place limit orders on the Ethereum network using Tokenlon?
Currently, the limit order function is only launched on the Arbitrum network, with relatively cheaper transaction fees. Please switch to the Arbitrum network using your wallet
3. What do I need to prepare before using Tokenlon limit order?
- Deposit your tokens to the Arbitrum network. Check out the complete guide here
- Read Tokenlon limit order tutorial before placing limit orders
- Go to Tokenlon limit order page and place an order
4. What fees are incurred using limit order?
For a limited time, users will incur zero fees when using Tokenlon limit order. This includes zero trade fees, zero fees for placing and canceling limit orders
5. Why do I need to authorize tokens before making a trade?
Token authorization allows Tokenlon smart contracts the right to make a transaction, completing the swap after the user has made the trade. Without token authorization, you are not able to use Tokenlon limit order. Please note that token authorization requires ETH to pay for the gas fees incurred
6. Can token authorization be cancelled?
Yes, you can. Go to your wallet settings and cancel the token authorization. Please note that you require ETH to pay for the gas fees incurred by this action
7. Why can’t I place limit orders using ETH when my Arbitrum wallet has ETH?
Tokens traded using limit order must meet the ERC-20 standard. As ETH is not an ERC-20 token, you need to swap ETH for WETH to place the limit order
8. How to check my order status?
After placing a limit order, you can check your order status under “Open orders”. You can find other details such as price, time executed, and time of expiry. Orders that were executed or expired can be found under “Order history”
9. Why are my limit orders not executed?
There could be a few reasons for this
- Limit order trade amount too low: The relayer which brings your orders on-chain has deemed your order unprofitable to execute. The smaller the trade amount, the more gas fees comprise a bigger part of the order, making it unprofitable for the relayer
- Lack of liquidity: The token you want to trade does not have enough liquidity to fulfill your order
- Lack of funds: Before the limit order is executed, you transferred tokens away from your wallet. Resulting in a lack of funds to execute your order
10. Which tokens can I trade using Tokenlon limit order?
The token list is open-sourced. You can search for the token or enter the token smart contract address to search for the token you want to trade