- With the latest functionality on SushiSwap, users do not have to monitor the market to purchase or sell tokens.
- SushiSwap stated that limited orders are extremely expensive with respect to gas fees to approve and execute.
- As of now, SushiSwap was trading at a market value of $1.64, bullish by 1.10% during the past 24 hours.
New Perk For SushiSwap Users
As per the latest functionality of free limited orders, SushiSwap users can now eliminate the hectic and time consuming process of keeping an eye on the market to acquire and sell tokens.
SushiSwap made this announcement on 31st May.
SushiSwap is an instance of AMM or Automated Market Maker, an astounding tool for crypto users. AMMs are basically DEXs which make use of smart contracts to create a market for its users.
Additionally, this latest attribute is available on several networks involving Fantom, Avalanche, Polygon and Ethereum.
Limit orders enable the folks to set trades and execute them automatically as soon as the asset reaches the set price. A majority of centralized exchanges provide this type of functionality but only a handful of Decentralized Exchanges do this.
Gas Free Limit Orders
SushiSwap said that limit orders are usually too costly in terms of gas fee to approve and execute. Furthermore, they come with an escalated opportunity cost. This is due to the fact the traders are required to deposit tokens in a simple contract rather than any yield bearing pool.
The latest limited orders functionality will allow the SushiSwap users to put their trades at any given price of a token pair. Furthermore, they can still bag the yields via deposited funds in BentoBox DeFi vault.
SushiSwap claims to be the very first Decentralized Exchange (DEX) to enable users to set desired number of limit orders on any amount.
It elaborated that in this way, users are allowed to make orders exceeding their persisting balance in BentoBox.
For instance, a needs to acquire $10K worth ETH at $2,000 but holds $1K worth of USDC in BentoBox. If the prices leaps between this range, orders will keep getting partially filled utilizing any funds available.
As this article was being written, SUSHI, native token of SushiSwap, was uptrending by 1.10% during the last 24 hours, exchanging hands at $1.64.
Source: https://www.thecoinrepublic.com/2022/06/03/sushiswap-extends-its-functionality-rolls-out-free-limited-order-swaps/