Definitions
Common trading terms used on Alcor
Mainnet — the live, production network of a blockchain, as opposed to a testnet.
Market order — an order to buy or sell immediately at the best available price. It is guaranteed to execute, but the execution price is not guaranteed.
Limit order — an order to buy or sell at a set price or better. It waits in the order book until it is filled or cancelled.
Order book — the list of open buy (bid) and sell (ask) limit orders for a market, grouped by price.
Liquidity pool — a pool of two tokens that traders swap against instead of matching with another trader. See What is a liquidity pool?
Fee tier — the fee a pool charges on every swap, paid to its liquidity providers. Alcor pools use 0.01%, 0.05%, 0.3% or 1%.
Price impact — how much your own trade moves the price of the pair. It is larger in pools and markets with little liquidity.
Slippage — the difference between the expected price of a trade and the price at which it executes. The slippage tolerance you set on a swap defines the minimum amount you accept to receive; if the price moves beyond it, the swap fails instead of executing.