Injective provides different order types such as limit orders and market orders to meet the needs of traders.
Market orders are executed at the best price currently available in the order book, without requiring you to set the price yourself, which helps execute the order quickly. Although the market order guarantees the execution of the order, the execution price cannot be guaranteed since the market price may fluctuate rapidly. When traders need to enter the market quickly to capture the trends, they generally use market orders.
A limit order allows users to set a designated price for execution. The order is executed at either the user-designated price or if available, an even better price.
When submitting a limit order, if there are already orders that are better than or equal to the designated price for matching in the order book, the limit order will be executed immediately at the current best price.
If there is no order in the order book that is better than or equal to the designated price for matching, the limit order will be listed in the order book and wait for the execution to increase market depth. The advantage of a limit order is that it can guarantee a trade at the specified price, but it has to face the risk of the order not being executed as well.
Market orders and limit orders are both readily available on Injective, which opens up countless opportunities for traders globally.
Injective is a custom interoperable layer one protocol for building powerful exchange, DeFi, derivatives & Web3 applications. Injective was created using the Cosmos SDK and is able to achieve instant transaction finality while sustaining lightning fast speeds. INJ is the native deflationary scarce asset that powers the Injective Protocol and its rapidly growing ecosystem. Injective is incubated by Binance and is backed by Pantera Capital.