Margin limit orders are now available on Sovryn! 

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On 3 May, we announced the release of spot limit orders on Sovryn. A limit order allows you to create a request to buy or sell an asset at a predetermined price. This is different from a market order, which is an order to buy or sell an asset at the market’s current, best available price. 

Naturally, a limit order does not guarantee execution and will only get filled if the asset price reaches the price you set, or better. A market order, on the other hand, ensures execution of the order to be filled but does not guarantee a specified price, as the market may move while your order is being filled. 

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Set and forget

We’re truly proud to announce the arrival of margin limit orders on the Sovryn platform. The majority of DeFi platforms have focused on swaps and enabling peer-to-peer trading. Our aim at Sovryn is to go further—to bring you the same features that you would expect to find on a centralized exchange (CEX) but in a decentralized, privacy-focused, censorship-resistant manner. 

Order types, like limit orders, allow you to manage your risk without the need to constantly monitor asset prices. They allow you to take back control of your time and get on with your day or sleep soundly at night!

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Hyper-HODL with margin limit orders

Did you know that Sovryn already allows you to margin trade with up to 5x leverage? Let’s say you believe that the price of bitcoin is going up in the long run, but you just don’t know when or by how much. Sovryn allows you to use your bitcoin as collateral to buy more bitcoin, up to 5x more.     

Sovryn margin positions are perpetual, meaning you can hold them as long as you want. However, you need to make sure you have deposited enough collateral to avoid liquidation. You can manage your risk by taking a low-leveraged position or by adding more margin to your position.

The added benefit of margin limit orders means that you don’t have to sit at your screen all day waiting for the right moment to put on your position. You can simply decide at what level you wish to buy or sell, set your margin limit order, and go about your day. We’ll notify you when your trade has been executed. 

As the saying goes, the best time to buy bitcoin was 2009. The second best time to buy bitcoin is today. So, what are you waiting for? Head on over to the Sovryn dapp to get started with decentralized, margin limit orders.

As always, we’d love to hear your constructive feedback on this or any other feature on the Sovryn platform. 

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Stay Sovryn

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