In decentralized finance, limit orders allow traders to specify the maximum price they are willing to pay (for buying) or minimum price they will accept (for selling), ensuring they only execute trades at favorable rates. When placing a limit order to buy an asset, the limit price should be set higher than the current market price to ensure the trade executes only when the asset becomes cheaper relative to the currency being used. For example, if 1 XRP currently buys 183 FLR, a trader wanting a better deal would set a limit price of 190 FLR per XRP, meaning they will only buy when 1 XRP can purchase more FLR than the current market rate.
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Flare DeFi Is Getting Better: Limit Orders + Dust Burner ToolHinzugefügt:
Hey guys, welcome back. Uh, Tainos from InnoSys has been busy building. Uh, I love his dedication. I really like him.
Uh, so he made this tool. It's a limit order.
So in this case, I think I have here Okay, I'm going to do FXRP for Flare on SparkDex.
Let's do all DEXs. Deepest liquidity win.
So right now the current price is 0.0054 FXRP per Flare.
So one Flare buys you 0.005 FXRP.
So the inverse is 183 Flare per XRP.
Um, so now let me think. I want to buy with 0.10 FXRP.
So if the current price is 183.90, let me think. I want Yeah, so I want to buy Flare if the price of FXRP goes up against Flare. So I'm going to do 190.
So that means that one XRP gives me more Flare. That's what I'm looking for.
So this is always a little bit tricky, but that's why I say I get for one XRP 183 Flare. So if I want to get a better deal, that means that one XRP should give me more Flare.
That's how I always kind of say it out loud so I understand what I'm trying to do.
And then let's do 0.15 for gas fee.
And then >> [clears throat] >> Yeah, so now I'm going to approve it.
So now I should see my orders here.
Should come up in a minute. Uh while this loads, uh the other thing that I want to talk about is here it is.
Uh so the best liquidity would be Spardax B4.
Uh I think uh yeah. So if it happens, it will execute. Now, the other part is that Flare Forward is building or it's already built.
But uh for this to happen, basically what you're doing is that you're depositing a liquidity pool here. So you're getting uh like a NFT.
And then when the liquidity is filled, there is a bot that observes that liquidity this order, sends it to the queue, and then when it's ready, it executes it. And then that that keeper takes a little fee from doing that. So uh I built that. So it's already live, so you can test it out. Same thing.
Do not go all in. If you make a mistake, it could be a problem if you make a really bad order.
Uh yeah.
Um what else?
So that's one That's it. Uh I'm going to be burning 20% of the profits that I make from this. I'm going to be sending to the MEV that I built so that it converts it into Flare and then burns it automatically.
Uh I'm still testing and because there's so many more tokens, uh the automation it's a little bit harder, but I will get to do it and I will register that in the Flow MEV page that I made.
Uh what else? So the other tool that he made, which I think is pretty cool.
So here you can see a bunch of tokens. So like not all of them are I mean, yeah, and I don't have any All right. So uh in this place, uh I have a little bit of dust of ETH and a little bit of dust of Jewel.
I have uh flare, case of flare, USDT.
This is probably a scam.
So, I guess I don't know what this ignite thing is.
I don't want this ganja.
Okay.
Um All right. So, I'm going to approve.
All right. So, now I approved all the the tokens.
So, as you can see, this is dust. Like this is not very much, but this is a good way to just clean your wallet.
So, you can do this.
Uh ignore, confirm.
It's pretty cool, Thanos.
So, here I'm going to take a screenshot so I can share it.
You can see the simulation of what's going on.
Sign, confirm.
And then after that, and now I'm signing the the permit for this igniting. I don't know what it is.
And then I'm going to send it to the burn address.
Yep.
So, I mean guys, this is just tools that are happening. I don't know what happened here, but anyways.
Uh these are tools that are happening on the flare networks. I think they're pretty cool.
Uh shout out to Thanos.
He's always trying to figure out new things to do. So, I really like it. All right, guys.
I hope you have a great day. I'll talk to
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