What’s the difference between placing a limit order and using the swap function on a decentralized exchange?
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
On which networks can I use Tokenlon limit order?
You can place a limit order via Tokenlon on both Ethereum and Arbitrum networks.
What are the fees for placing a 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
What should I prepare before placing a limit order?
- You have to wrap ETH to WETH first and then place a limit order using WETH. You cannot place a limit order using directly ETH, find out more details.
- You only need to authorize a token once when you swap or place a limit order on Tokenlon. At the same time, please ensure that there is a small amount of ETH balance in the wallet to pay the gas fees for token authorization.
- If you want to place a limit order on Arbitrum, you have to deposit your assets to the Arbitrum network, see the full tutorial here.
Why can’t I place limit orders with 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
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”
Why are my limit orders not executed?
If the order is not executed when hit the limit price, there could be a few reasons for this
- The taker might make a loss by filling your order. Takers must consider the order size, gas fees, and profit before filling your order. Increasing the trade amount increases the chance of your order being filled
- Lack of liquidity: The token you want to trade does not have enough liquidity to fill 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.
How many tokens can I trade using Tokenlon limit order?
You can search for the token or enter the token contract address to search for the token you want to trade.
What does “The balance is occupied by action order” mean?
When placing an order, if it shows "The order balance is occupied", it is because an existing order is being filled and the current token balance is not enough for you to place a new limit order.
Here are two ways to solve it:
- Cancel the active order and then place a new limit order
- Transfer more tokens to your address and you can continue to place a new order
Can I participate in LON trade mining and get LON rewards by using Tokenlon limit order?
No, that is not available right now. If there are any adjustments in the future, we will update the community. Please pay attention to our latest announcements.
July 1st, 2022