BTCBot launches a complete trading market, achieving limit order functionality for BRC20 for the first time in the industry

Source: BTCBot Chinese Community

The trading market is filled with countless buyers and sellers, and the platform is where different buyers and sellers come together to complete transactions.

In the BRC20 field, most platforms like Unisat and OKX Ordinals Market currently only support limit sell orders and lack limit buy order functionality, which leads to insufficient market liquidity.

Sell Order Function

Before BRC20 tokens are listed on trading platforms like OKX or Unisat for sale, a minting step is required. For example, if you want to sell 2000 $BPIX (BRC20 token), you need to first convert 2000 $BPIX into an inscription, then set a price for that inscription, and list it on the trading platform to wait for the order to be filled.

Placing a limit sell order incurs no transaction fees; the only cost to the user is the minting gas fee.

On BTCBot.pro, when users use the "limit sell" function, they can place orders on Unisat, OKX, and other platforms simultaneously without incurring any additional costs, using the same inscription for both orders, which increases the probability of sell order execution.

In the sell order function, BTCBot.pro has implemented a relatively simple aggregation optimization, while the buy order function is the focus of this update.

Buy Order Function

The buy order function of BTCBot.pro has the following four main features:

Zero Cost

After setting the price and purchase amount, users can modify or cancel limit buy orders at any time without any gas fee;

Slippage Control

When the price of a token falls within the user's set buy order range, it will trigger a transaction. However, the BTC gas fee at the time of order execution will affect the overall price of the token. For example, if an order has a token quantity of 100 at a price of 1 USD each, but the current transaction requires a gas fee of 9 USD, BTCBot.pro will automatically calculate the total cost as: (100+9) ÷ 100 = 1.09 USD. At this point, the trading slippage is 9%. If the user's slippage setting is 10%, this sell order will be triggered for automatic execution; if the user sets it to 5%, it will not trigger, thus avoiding an increase in the overall cost of acquiring the token. The larger the token quantity of an order, the smaller the trading slippage.

The "slippage setting" mentioned here is unique to the BTC ecosystem, unlike the slippage used by users on Uniswap, which employs an AMM mechanism. In the AMM mechanism, the size of the liquidity pool affects slippage, while in the current BRC20 field, it is the BTC transaction gas fee that affects slippage.

Through slippage settings, users can easily filter out the orders they truly need, effectively controlling the overall cost.

Market Management

Most trading platforms for BRC20 currently cannot use limit buy order functionality, so market makers or project parties cannot manage the market effectively and can only manage it through market orders. This significantly affects the activity and depth of trading. The limit buy order function can solve this problem, allowing project parties or market makers to manage the market on BTCBot.

Automatic Matching

On BTCBot.pro, users can see how much money and how many limit buy orders are currently available. Holders (sellers) can observe the order thickness and choose at what price to sell, while buyers can obtain lower-cost tokens through bidding (similar to Bid). On BTCBot.pro, buyers and sellers can automatically match transactions.

With the development of the BTCBot.pro platform, its limit order buying and selling functions will facilitate trading for end users, ease institutional investors' entry into the BRC20 track, and promote overall liquidity in the BRC20 field.

In the future, BTCBot.pro will gradually implement planned order functions, order book trading, and other features to make it more intuitive and convenient for users to observe and trade.