Limit orders

A limit order buys or sells a subnet’s alpha when the pool’s price reaches the price you set. You sign it once in your wallet, and it can fill while you are away.

How it works

Signing an order is not a transaction: it costs no network fee and locks nothing.
Taoswap keeps your signed order. Only Taoswap’s executor can fill it: when the pool’s price reaches your limit, the executor sends the order to the chain.
The executor sends fills through MEV Shield when it is available, so bots cannot trade around them.
Your funds stay in your wallet until the fill, and nothing is reserved. If the funds are gone when the order triggers, it is skipped, then retried until it expires.

An order always pairs your free TAO with one subnet’s alpha. Root stake and swaps from one alpha to another are not supported.

Order types

The type follows from your side and your price:

Limit buy: buys when the price falls to your limit or below. The limit must be at or below the market price. To buy right away, use Market.
Take-profit: a sell at or above the market price. It fills when the price rises to your limit or above.
Stop-loss: a sell below the market price. It fills when the price falls to your limit or below.

Place an order

Open Spot in the Trade menu. It opens in Limit mode.
Pick the subnet with the market button at the top of the page.
Choose Buy or Sell.
Set the Limit price, written as the τ price of 1 α. Use the − and + buttons or the quick offsets under the field. On a computer, you can also click a price in Trades or Order book.
Enter the Amount: TAO for a buy, alpha for a sell. Available shows what you can spend. On a sell, MAX sells your whole position as it stands when the order fills, staking rewards earned until then included.
Choose how long the order lasts under Expires in: 1d, 7d or 30d. It lasts 30 days unless you pick less.
Under Order book, keep Public or choose Hidden. A hidden order fills the same way, but the public order book leaves it out.
Press the button, which names the side and the subnet. Check the terms in Confirm your buy order or Confirm your sell order, then approve the signature in your wallet.

The app then shows Limit order placed.

Price, fees and validator

Taoswap takes no fee on limit orders.
The fill is a swap through the subnet’s pool, so the pool fee applies. Taoswap’s executor pays the fill’s network fee.
Limit slippage tolerance, in Swap Settings, bounds the fill price: a buy pays at most your limit plus that tolerance, and a take-profit receives at least your limit minus it. A stop-loss has no bound: once triggered, it sells at the market price.
The executor sends a buy only while your free TAO covers its amount plus 0.01 τ.
Each order has a minimum amount. Below it, the button shows the minimum.
A limit buy stakes your alpha with the house validator, Kusanagi, and offers no other choice. A sell sells from the position you picked.

Follow your orders

The Positions panel of the Spot page has two tabs:

Open lists your resting orders. A tag can follow: reached when the market is at your limit, unfunded when your wallet cannot cover the order right now, hidden for an order kept out of the public book, and paused while a coldkey swap is pending.
History lists the orders that ended, as Filled, Partially filled, Cancelled or Expired.

In a browser where you never placed an order, choose Show my orders and sign a message to see them.

When an order fills, expires or is closed, the app shows a notification with View orders, and Transaction for a fill. The bell in the header, Order notifications, keeps them. Notifications only appear in the app while it is open.

Cancel an order

In Open, press the bin icon of the order.
Choose Cancel the order to cancel for free. Your wallet signs a message, and the order leaves Taoswap’s book at once. Since only Taoswap’s executor can fill it, nothing fills it afterwards.
Or choose Cancel on-chain instead. A transaction voids the order’s signature on the chain itself, for a network fee under 0.0001 τ.

An order cancelled for free still offers the on-chain cancel in History until it expires.

If an order does not fill

An order fills only when the pool’s price reaches your limit, with the funds still in your wallet, before it expires. A pending coldkey swap pauses your orders, and a completed hotkey or coldkey swap, or a dissolved subnet, closes them. See My limit order didn’t fill.