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Ranges: Everything you need to know
Range orders on Alcor Exchange allow traders to deposit a token within a specified price range. When the market price reaches that range, the token is automatically converted to another token, earning fees in the process.
This feature gives traders more control over their trades. For example, if the price of WAX is below 0.1 USDT, a trader can deposit $1000 worth of WAX within the range of 0.1–0.2 WAX/USDT. Once the price of WAX goes above 0.1$ WAX/USDT, the WAX will start converting to USDT and will be fully converted at a price of 0.2$.
To avoid automatic conversion back to WAX, the trader must withdraw the funds or use a third-party service if the price exceeds 0.2.
Range orders give traders more flexibility and control, making them useful for advanced trading strategies. We're excited to see how traders will use this feature to maximize their profits.