Today we are happy to announce the release of Limit Orders for the BSC network!
Rubic continues to introduce more features for traders, in order to create a ONE-STOP platform for every crypto user. Rubic’s Order Books feature allows users to create and complete P2P trades on their own terms.
This feature will also allow users to buy or sell a token at the desired rate, and will offer them the opportunity for their Order Book trades to be completed automatically after certain conditions are met:
— The trade rate from the Order Book is the same as the market rate, including gas fees + platform rewards. (That is now 0.015 BNB; it may change over time.)
— Trade is not expired
— Trade has to be public
— The minimum trade size is 0.1 BNB or 400 BRBC
— The maximum trade size is 4 BNB or 12.000 BRBC
Also, the order can be completed if other users accept the trade parameters and participate in the trade.
How to use Limit Orders:
Step 1: Select the blockchain in which you want to swap tokens and choose “Order Book” (the Limit Orders feature currently supports trades on Ethereum and BSC networks).
Step 2: Choose the tokens you want to exchange, at your desired rate. For now, only “BRBC-BNB” and “BNB-BRBC” pairs are available.
Step 3: Choose advanced options, such as ‘closing date and time’, ‘minimum and maximum contribution’, and ‘brokerage fee’ if needed.
Step 4: Click on “Create Trade”, then on MetaMask click “Confirm” to initialize the transaction.
Step 5: Finalize your part of the trade. (There are 2 transactions: “Approve Tokens” & “Contribute”). Choose ‘Fill All’ if you’re planning to be the only participant on your side of the deal. (A network fee will apply.)
* Sellers need to have fully completed (100%) their side of the deal (check video tutorial). So, if you plan to be the only seller in your trade, you should select “Fill All”. This way, your part of the deal will be fully completed (100%), and will make the trade available for other buyers.
** If a buyer wants to partially fill your order, the Limit Order feature will still perform its function and will automatically fill the rest of your order until it’s 100% completed.
*** If the expiration date of the trade has been reached, you can get your tokens back by going to your trades table and clicking on the “Refund” button. (A network fee will apply).
**** Currently, there is no custom slippage option for the Limit order feature. But we are planning to introduce it in the future.
*****Your orders might be completed by other users before Limit Orders are automatically completed by Rubic. This will still allow the user to generate value from this trade and it won’t affect the final outcome.
****** Since Limit Orders are part of our Order Book feature, it also has the same security as our Order Books smart contracts.
Rubic is a multichain DeFi ecosystem, which features cross-chain, P2P, instant swaps, and limit orders across multiple blockchains, aiming to deliver a complete ONE-STOP decentralized platform. Rubic’s platform is the place where users can complete cross-chain swaps using a variety of solutions, and get the best rates from all leading protocols (thanks to a DEX aggregator implementation), as well as P2P swaps within an Order Book where users can make deals on their own terms.
For the moment, Rubic supports trades on Ethereum, Polygon (ex Matic), TRON, and Binance Smart Chain networks.