Since launch, DeversiFi’s mission has been to build an advanced self-custodial exchange which makes serious traders feel at home. Our strapline is simple: decentralised edge for serious traders. Achieving this, we set out climbing a ladder of many rungs, representing a flurry if incoming features.
First, launch with the essentials for professional spot trading — a scalable exchange with deep liquidity, privacy, speed and self-custody. Next, begin climbing the ladder of product improvement, bringing new pairs, new features, new utility and new everything else our audience needs.
Today’s announcement is one of many incoming testaments to this purpose. Today we announce the incorporation of two advanced order-types as requested by you, our traders.
- Post-only Orders
Simply put, post-only orders are those which never take liquidity from the orderbook. They allow traders (specifically Market-Makers) to post limit orders with a guarantee that they will not be immediately executed, thereby ensuring they receive market maker rebates for the trade. In the case of DeversiFi (and most exchanges), this entails significant fee discounts.
This allows you to optimise your trading fees — something which is particularly useful to both high volume traders, as well as scalpers.
Example:
Without post-only: If you place a limit buy order for 400 ETH/USDt at a rate of 400 USD and in this time the market price shifts to a favourable number (let’s say 395), your order would automatically be executed as a market order, turning your order into a taker not a maker — meaning you pay a taker fee!
With post-only: If you place a limit buy order for 400 ETH/USDt at a rate of 400 USD and in this time the market price shifts to a favourable number (let’s say 395), your order would automatically be cancelled. This ensures you never pay any unintended taker fees.
- Hidden Orders
Hidden orders aren’t as ‘cool’ as post-only orders but are very valuable for large, professional traders. They allow you to place orders which do not appear on the orderbook, and as such, do not play a role in influencing the market. This is different from but in some essential ways similar to OTC deals where the size, volume and cost of a trade does not directly influence the market.
When the market price passes your hidden order price, your order begins to be executed, with the balance remaining hidden until the full order is executed. You always pay the taker fee.
Looking Forward
On DeversiFi you can now enjoy 4 order types: Market Orders, Limit Orders, Post-Only Orders, & Hidden Orders. You can also utilise our trustless OTC desk.
This is a landmark moment in making a self-custodial exchange reflect a CEX with advanced order types. One step in a ladder of incoming features.
DeversiFi is committed to improving its available features and based on feedback from users, will soon be adding to this list of order types.
Are you a trader? Let us know what you want to see on DeversiFi by reaching out an admin in our brand new Discord or start a conversation in the feedback channel.
About DeversiFi
DeversiFi gives traders the edge in fast moving decentralised finance (DeFi) markets by allowing them to trade at lightning speed and with deep aggregated liquidity, directly from their privately owned cryptocurrency wallet.
Traders can take advantage of more trading opportunities while always preserving control of their assets for when they need to move fast. DeversiFi’s order-books are off-chain, but settlement occurs on the Ethereum blockchain. This means that traders benefit from fast moving order books and instant execution, without having to trust the exchange and whilst always maintaining control of their assets at all times.
For the first time, traders can enjoy all the benefits that they would expect from a legacy large centralised exchange, but with no exchange or counter-party risk.
