# Limit Orders

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

{% hint style="success" %}
**Same Fees:** Limit orders have identical fees to market swaps. No premium for conditional execution.
{% endhint %}

***

## 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  |

***

## 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

***

## Creating Orders

### Step 1: Select Limit Mode

On [app.sova.io/swap](https://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

***

## 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
```

***

## 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.

***

## 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

{% hint style="warning" %}
Orders in `PROCESSING` or `EXECUTING` status cannot be cancelled.
{% endhint %}

### Order Statuses

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

***

## 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

***

## 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

***

## FAQ

<details>

<summary><strong>What if price briefly touches my target?</strong></summary>

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

</details>

<details>

<summary><strong>Can I modify an existing order?</strong></summary>

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

</details>

<details>

<summary><strong>Are my funds safe while waiting?</strong></summary>

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

</details>

<details>

<summary><strong>What's the minimum order size?</strong></summary>

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

</details>

<details>

<summary><strong>Can I have multiple active orders?</strong></summary>

Yes. Create multiple limit orders with different parameters simultaneously.

</details>


---

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