Astroport has become the primary DEX in the Terra ecosystem in a matter of a few weeks. Their UX / UI is sleek , their liquidity is deep, and the swap function is the most efficient on the Terra blockchain. That said, the Astroport Swap page is a bit simplistic in nature , which at times is beneficial to the ecosystem because of it’s ease of use , however , in order to maximize it’s potential , I believe there needs to be a place to submit limit orders to prevent liquidity from going to a centralized exchange to make these orders.
This is all pretty self explanatory in nature, therefore I won’t go much further in depth . Hope to hear some conversation about this potential feature!
This is a good idea and would love to see it implemented!
Compared to simple swaps, it’s a bit more complex to build. Protocols like Sushiswap built smart contracts that accept limit orders (on top of their core protocol) as well as bots that can listen for orders and fill them. In the process, these bots earn a fee for filling an order (so they have an incentive to do it). More details on how it’s done here.
There are projects like miaw that already offer limit orders for Terraswap and as a first step, they could use the same infrastructure on Astroport. Personally I see limit orders as a separate service similar to 1Inch (for Ethereum) built on top of Astroport.
Thank you Stefan for this info! I didn’t even know something like Miaw Trader existed! If miaw can sit on top of Terra blockchain , than surely Astroport can support something like this. If the UI/UX devs feel as if the simplicity of the simple swap is more appealing on the eye to the average trader, than maybe toggling “Expert Mode” to create such an option would be awesome. Looking forward to hearing more about this!
The Sushiswap approach is super interesting. Building bots who monitor market prices, accept limit orders and execute them collecting a fractional fee as incentive is pretty smart. I need to dig more into it, but in general I think that having Astroport function as the base layer to execute the trades (via the swap function) and a third party application with its own smart contracts and bots sitting on top to take and fill limit orders seems like a pretty logical way to approach it.
I would love this functionality! All for it!
Sounds great and the feature would go hand-in-hand with astroport’s vision. I’m on board.
Limit orders are a must. At the same time, implementation of a limit orders function should ensure that the interface is kept clean and simple to use. Failure to keep the interface accessible would hinder mass adoption.
@AndrewB this seems to be a simple and powerful add.
Limit orders not only benefit users, but also create deep liquidity at different support levels.
There are definitely some UI/UX considerations before rolling this out in full force. Will it be visible to other users, how is a limit order reflected in the current UI, etc.
I would be curious if a dev could comment on the difficulty of this build? Seems that it exists already across the Terra ecosystem. Is it something worth reaching out to Miaw Trader for an integration?
completely agreed about the UI / UX , but these Astroport devs have really done a nice job making the simplicity of the protocol one of it’s strengths, however, it could be something as simple as adding this to the “expert mode” screen - to bring up enhanced features of the protocols . Astroport should be a place where “Experts” and “Normies” unite in decentralized singularity
Would be a great addition! no doubt that the devs could work some magic and implement it as a feature