Limit Orders

Conditional swap execution at target prices

Limit orders allow you to specify a target price for BTC or ZEC swaps. When market conditions meet your criteria, the order executes automatically.

Same Fees: Limit orders have identical fees to market swaps. No premium for conditional execution.

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Overview

Parameter	Value
Supported Outputs	BTC, ZEC
Fees	Same as market swaps (1.0-1.3%)
Monitoring	24/7 automated
Cancellation	Free, anytime before execution

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How It Works

1. Set Target Price — Define execution price threshold

2. Deposit Tokens — Tokens held in limit order contract

3. Price Monitoring — System monitors markets continuously

4. Auto-Execute — Order fills when target price is reached

5. Receive Output — Native BTC/ZEC delivered to wallet

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Creating Orders

Step 1: Select Limit Mode

On app.sova.io/swap, select the Limit tab.

Step 2: Configure Parameters

Field	Description
Sell Token	Token and amount to swap
Buy Token	BTC or ZEC
Target Price	Execution price threshold
Expiry	Order duration
Recipient	Destination wallet address

Step 3: Review & Confirm

1. Verify estimated output at target price

2. Compare with current market price

3. Confirm deposit transaction

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Price Logic

Execution depends on input token type:

Input Type	Trigger
Stablecoin (USDC, DAI)	BTC/ZEC price drops to target
Crypto (ETH, cbBTC)	Input token price rises to target

Example: Buying the Dip

Current BTC:     $95,000
Target:          $90,000
Deposit:         9,000 USDC
Expected:        ~0.1 BTC

→ When BTC drops to $90k, receive ~0.1 BTC

Example: Selling the Peak

Current ETH:     $3,500
Target:          $4,000
Deposit:         2 ETH (~$8,000)
Expected:        ~0.084 BTC

→ When ETH rises to $4k, receive ~0.084 BTC

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Expiry Options

Duration	Use Case
1 Day	Short-term trading
1 Week	Swing positions
1 Month	Medium-term targets
1 Year	Long-term accumulation
Never	Open-ended orders

Expired orders return deposited tokens automatically. No fee charged.

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Managing Orders

View Active Orders

Navigate to Transactions page and filter by limit orders.

Cancel Order

1. Locate order on Transactions page

2. Click Cancel

3. Confirm cancellation transaction

4. Tokens returned immediately

Orders in PROCESSING or EXECUTING status cannot be cancelled.

Order Statuses

Status	Description
PENDING	Active, monitoring for target
FILLED	Executed successfully
CANCELLED	Cancelled by user
EXPIRED	Reached expiry without execution

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Fees

Same structure as market swaps:

Route	Fee
USDC → BTC/ZEC	1.0%
Other Token → BTC/ZEC	~1.3%

• Fees charged only on successful execution

• No fee for cancelled or expired orders

• No premium for limit functionality

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Technical Details

Execution Mechanism

Orders execute based on sustained price levels, not momentary wicks. This protects against:

• Flash crashes

• Price manipulation

• Temporary liquidity gaps

Token Custody

Deposited tokens held in audited smart contracts:

• Non-custodial design

• Cancel and withdraw anytime

• No counterparty risk

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FAQ

What if price briefly touches my target?

Orders require sustained price levels for execution, filtering out momentary spikes or dips.

Can I modify an existing order?

No. Cancel the existing order and create a new one with updated parameters.

Are my funds safe while waiting?

Yes. Tokens held in verified smart contracts. Cancel and withdraw anytime before execution.

What's the minimum order size?

Same as market swaps: ~$10 USD equivalent for BTC routes.

Can I have multiple active orders?

Yes. Create multiple limit orders with different parameters simultaneously.