How is the commissioned order placed on OYi Contract carried out?

Commission orders on OYi Contract allow traders to secure a fixed price for their trades by paying a fee to liquidity providers, guaranteeing execution even in volatile market conditions.

Jan 31, 2025 at 09:48 pm

Key Points of the Article:

• Understanding the Commission Order on OYi Contract
• Step-by-step Guide to Placing a Commission Order
• Potential Questions and FAQs on Commission Orders

Understanding the Commission Order on OYi Contract

A commission order on OYi Contract is a type of order where the trader pays a commission to a liquidity provider (LP) in exchange for the LP fulfilling the trader's order. This order type allows traders to secure a guaranteed price for their trades, even in volatile market conditions.

Step-by-step Guide to Placing a Commission Order

1. Create an Account on OYi Contract

   • Visit the OYi Contract website and create a trading account.

2. Deposit Funds into Your Account

   • Click on "Deposit" and choose your preferred deposit method (e.g., cryptocurrency, credit/debit card).

3. Select the Trading Pair

   • Go to the "Trading" tab and select the trading pair you want to place the order for.

4. Choose the Commission Order Type

   • Under "Order Type," select "Commission."

5. Specify the Order Parameters

   • Enter the price at which you want to buy or sell the asset.
   • Set the order quantity and commission rate.

6. Preview and Submit the Order

   • Review the order details, confirm the commission fee, and click "Place Order."

Potential Questions and FAQs on Commission Orders

Q: How is the commission rate calculated?
A: The commission rate is determined by the liquidity provider and typically varies based on the market depth and market conditions.

Q: When will my commission order be filled?
A: Commission orders are filled when there is sufficient liquidity on the OYi Contract platform to match the specified price and quantity.

Q: Can I cancel a commission order?
A: Yes, pending commission orders can be canceled. However, if the order has already been filled, it cannot be canceled.

Q: Are there any restrictions on commission orders?
A: Yes, there may be minimum and maximum order quantities and commission rates set by the liquidity provider.

Q: What are the advantages of commission orders?
A: Commission orders guarantee price execution, protect against slippage, and provide access to liquidity in volatile markets.

Q: What are the disadvantages of commission orders?
A: Commission orders involve paying a fee to the liquidity provider, which can increase the overall trading cost.