Matcha users have the ability to create Limit Orders with ERC-20 tokens (on Ethereum). Here's how you can take advantage of this functionality.
Table of Contents
Creating a Limit Order
In order to place a limit order, you first must make sure you are trading an ERC-20 token (e.g. WETH, USDC, DAI, etc.). Once you know what tokens you want to trade, click the Limit button at the top of the trading widget to proceed.
You now have the ability to prepare your limit order! Before you can place your order, you will need to enter a few items:
The quantity of the Token you want to sell (You Pay - this will adjust the You Receive section respectively).
The price of the token you want to sell (compared to the token you want to purchase).
NOTE: If the price you input is much higher than the market rate, you will be prompted to adjust your price.
The duration of the limit order (you can choose from 10 minutes, 1 hour, 24 hours, 3 days, or 7 days).
*Note: You have the option of switching the You Pay token with the You Receive token by clicking the arrow in the center of the widget, but you should check the inputs to make sure they are what you want them to be after you switch.
**Note: You do not need to remain connected to Matcha or stay on the site in order for the limit order to fill. Limit Orders exist off-chain.
Placing a Limit Order
Once you are ready to place your limit order, go ahead and click the Review Limit Order button at the bottom of the trading widget. You will be presented with this screen:
Go ahead and click the Place Limit Order button when you're ready to proceed.
You will be prompted by your Wallet application to sign limit order approval. Go ahead and click "Sign".
Once you have signed the order request, your screen will show that the order is processing:
The time it takes can vary from just a few seconds to a few minutes. Once completed, you'll be greeted with a Success screen:
Congratulations - you have now created a Limit Order!
View Existing Limit Orders
Once you have created a limit order, you can check to see it's status from two places:
On the market page for the trading pair where you created the order:
Selecting the bell icon at the top right hand corner of the screen:
Your limit order(s) will remain in the Open Order section until:
The order fills completely (the progress reaches 100%)
The duration of the order expires
You manually cancel the order by clicking on the X button
Note: You will be charged a fee by the blockchain network if you manually cancel your limit order.
If your Limit Order fills, it will change to a completed order on the Market page for that trading pair (and in your recent orders section from the bell icon).
Additional Resources:
Visit these help pages if you want to learn more about Limit Orders and Trading on Matcha: