Sorbet Finance — where you can place limit orders on Uniswap.
Contents:
Description of the Sorbet Finance
Let's say you are long in ETH and want to buy 1 ETH with USDC. However, you think that the price of ETH is likely to decline by about 5% in the short term. To get the best entry price for your ETH position, you can place a limit order at a 5% discount off the current price, and if the ETH price starts to drop below this threshold, your order will be automatically executed. Example: 1 ETH costs $ 2,200. If you want to sell 1 ETH for $ 2,500, that is, after the price has increased by ~ 14%, you enter 1 ETH in the "Entry" field, set the "Rate" to $ 2,500 and check that the "Exit" field also says $ 2,500 ( processed automatically). Then you click "Place" to submit the order.
Gas costs are, for example, about $ 50 and are paid by bots, so they will actually execute your order as soon as 1 ETH reaches $ 2550. You only pay for the gas you need to place your order. You can check the gas price on Ethereum Gas Price or Uniswap as you are about to make a transaction on Sorbet.
Some features:
| 1 | You can use your hardware wallet like Ledger with Sorbet. |
| 2 | Your order remains open until it is executed. But you can cancel at any time. |
| 3 | The lead time depends on when the price moves above or below the threshold you set. |
You can cancel your order by clicking "Cancel". You will need to pay the gas fee and your money will come back.
Other platform information
The developers provide an introductory document. You will find answers to your questions there.
If you still have any questions or concerns, feel free to contact the team on social media:
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