Uniswap Adds Limit Order Feature to Interface
After a long wait, Uniswap has finally integrated the Limit Order feature into its decentralized exchange (DEX) interface.
Overview of the New Feature
With this new integration, Uniswap users can now place Limit Orders, enhancing their trading experience by allowing them to set specific price points at which they want to buy or sell tokens.
Say hello to the most expansive Limit Order offering in DeFi
— Uniswap Labs 🦄 (@Uniswap) February 28, 2024
Buy and sell any token at your price, on your terms, without having to watch the market
Now LIVE in the Uniswap web app 🦄 pic.twitter.com/qAxE5MYbu0
Most decentralized exchanges currently support only direct trade orders due to limitations in the structure of liquidity pools. Limit Orders, on the other hand, allow users to set a specific price at which they want to execute a trade, adding a layer of complexity in execution.
How It Works
By integrating the UniswapX protocol and gearing up for the upcoming V4 version, Uniswap can now offer this feature to its users.
If the market hits your price and a UniswapX filler picks up your swap, your order will execute automatically ✅
— Uniswap Labs 🦄 (@Uniswap) February 28, 2024
If the order is not filled in the time you set, it expires and is never filled ❌
Limit Orders on Uniswap cost zero gas and can be placed for any swap size (no…
When liquidity providers (Fillers) from the UniswapX protocol fulfill users' Limit Orders, these requests are executed as usual. If a Limit Order is not fulfilled within the set timeframe, the order is canceled and not executed.
All Limit Order placements are gas-free and can be applied to orders of any size.
Recent Developments
Last week, Uniswap garnered significant attention by announcing a proposal to share the protocol’s revenue with UNI token holders and those who delegate their tokens. This proposal had a substantial impact on the token's price, causing UNI to nearly double in value within hours.
Additionally, Uniswap has recently launched a browser extension format for its crypto wallet application, expanding its accessibility and functionality.
Future Plans
Regarding the rollout of version V4, Uniswap has indicated that the mainnet for this new version is likely to be launched in Q3 2024.
This development marks a significant milestone for Uniswap, as it continues to innovate and enhance its offerings in the competitive landscape of decentralized finance (DeFi).
