📃Bid Order
Last updated
Last updated
P2P Order allows buyers or sellers to place orders at their desired price and volume, which are then posted on Unich Pre-Market OTC's Order Book. Bid Order allows buyers or sellers to place orders with their desired price and quantity. At the same time, the Bid Order will be sent by the system to match with available orders on the opposite side of Unich Pre-Market OTC's Order Book.
The system will create a Bid Buy order and send Offers to all available buy orders on the market for the Buyer. The system prioritizes the best price that all buyers are offering.
Notes:
In Unich bid order trading, the party accepting a bid offer prioritizes the best match available in the market. This means they'll choose the order with the most favorable price for them, even if it isn't the first order submitted.
Bid Offers will not be sent to Cashout Orders on the Order Book since Cashout Orders do not have price fluctuations. Orders with collateral value below $2.5 will not appear on the order book and will not be matched with other orders.
Full Order Matching occurs when both the buyer and seller match the entire trading volume of the order.
Partial Order Matching occurs when both the buyer and seller match only part of the trading volume of the order.
Examples: A buyer is selling 100 $UN tokens at 2 USDC each. An order currently available on the market is waiting to be matched with a volume of 200 USDC.
Order Type: Sell
Token Name: UN
Network: Solana
Token amount: 100 $UN
Price: 2 USDC
Volume: 100 × 2= 200 USDC
Collateral: 100 USDC
Full Order Matching occurs when both the buyer and seller match the entire trading volume of the order.
Partial Order Matching occurs when both the buyer and seller match only part of the trading volume of the order.
A buyer is selling 100 $UN tokens at 2 USDC each. An order currently available on the market is waiting to be matched with a volume of 200 USDC.
Order Type: Sell
Token Name: UN
Network: Solana
Token amount: 100 $UN
Price: 2 USDC
Volume: 100 × 2= 200 USDC
Collateral: 100 USDC
Buyer 1 can partially match the above trade with 5 $UN, equivalent to Volume: $10
Order Type: Buy
Token Name: UN
Network: Solana
Token amount: 100 $UN
Price: 2 USDC
Volume: 5 × 2= $10 USDC
Collateral: 5 USDC
Buyers 2, 3, ... n will continue matching orders until the entire order of the seller is fully filled. Once orders are matched, they will be marked as filled, and both the buyer and the seller will complete the process of sending and receiving payments, which will begin at the TGE.
