As Exchanges decentralizedAs the DEXs evolve, their functionality often matches that of central exchanges (CEXs). Limit orders are one such function, and offer traders more flexibility as well as efficiency. We will be looking at both the current limit order functionality and potential implementations.

Contrary to a market or, where the order is placed at the market’s last price without any slippage, limit orders are executed as soon at the price that is set. All automated market maker-based DEXs use market orders by default. These orders are very simple for novices. The market order can be executed successfully or not due to certain parameters like the maximum price impact.