An order book is a digital listing book that keeps and lists all the buy/sell orders of the specific crypto asset. Its major function is to maintain the tokens enumeration that is being sold or bought at a particular price point. In every case where an exchange is established using a Binance clone script, it will automatically be a CEX based on the order book.
The order book also provides a solution for exchanges where liquidity is high. It helps to manage low slippage without concerning the trading volume.
Generally, there are Dapp platforms that help you place the limit order which is handled by their order-book feature. They offer Limit Order protocols on their own terms. A Limit order is a type of buy order which a user can place with a specific buy or sell price whose limit is determined by the user him/herself. The enables the trade to be automatically executed when the market price reaches the users’ target price. It allows users to buy dips or take profits to take benefits of volatility in the marketplace.
In this post, we are going to look at some of the top Dapp that bring Order-book features on Binance SmartChain.
Kururu
Kururu is the platform that offers the creation of simple order book trade so that the users can create order and list them in the marketplace for free. This enables other users to come and select the required order and start swap transactions in the future.
1inch
The 1inch Network is a DeFi/DEX aggregator on Ethereum, Polygon, and Binance Smart Chain. It is the platform that aggregates the decentralized protocols whose synergy enables the most lucrative, quick, and secure operations in the DeFi space. Its aggregator protocol offers cost-efficient and secure transactions by making use of a wide range of protocols and performing argument validation and execution verification. Its liquidity protocol offers security to users from various attacks. This also provides capital efficiency to liquidity providers.
Its 1 Inch Limit Order protocol provides the most innovative and flexible limit order functionality in DeFi.This order-book feature allows users to buy or sell crypto assets at a specific price. The tokens that have their current supports are ERC20/BEP20, ERC721, and ERC1155. It offers a superior level of efficiency and flexibility to the competitors in the market. There are no charges as well.
Bogtools
Bogtools is a decentralized finance platform that allows you to research and place orders for any token on Binance Smart Chain. Its order-book feature is one of the most popular ones. The primary function is to limit orders for PancakeSwap. It facilitates Limit Orders executed on-chain, utilizing PancakeSwap liquidity. This Limit Order feature leverages the power of PancakeSwap’s Liquidity at the present utility. They have claimed that the platform will take advantage of multiple Decentralised Exchanges in the future. This will enable orders to be filled at the best possible price.
The limit orders cost $2.50 worth of BOG per order and have an expiry period of 31 days if not filled. The users of this platform need to hold a BOG token which is used as the fee. The fee taken will be used to compensate for the gas costs of the platform. The profits of this fee will be distributed to Liquidity Provider Stakers and the BogTool developers.
