Ordertypes

Palmswap is an AMM-based DEX which makes trading somewhat different from the traditional order book exchange model.

Makers and Takers

Each trade is executed with the Palmswap vAMM as a maker. However, there are no additional fees when trading as a Taker. This is one of the benefits of the vAMM model (and what differentiates our limit orders from orders on other sites). When you place a limit order to buy 1 BTC at $50,000, you are the taker and the vAMM is the maker. Functionally, with a vAMM, a limit order to buy 1 BTC at $50,000 is the same as saying "Place a market order for 1 BTC only if the price is below $50,000." So it is very likely that you will actually get a better price than your order asks for.

To open a position you have the following options:

• Entry via Market Order

• Entry via Limit Order

Order Types

Palmswap offers four different order types, Limit Orders / Market Orders / Take profit Orders /Stop Market Orders, to meet the trading needs of traders.

Order Types	Definition	Execution	Executed Price
Market Order	Traders enter their leverage and contract size, but not the execution price.	The order will be executed immediately.	Mark Price + Price Impact / Slippage
Limit Order	Traders enter their leverage, contract size and the order price. When the last traded price reaches the set order limit price, the order is executed.	When the Mark Price reaches the order price, the order will be executed.	Order Price + Price Impact / Slippage
Take Profit Order	Traders enter their take profit trigger price and the size. As soon as the trigger price reaches the last trade price, the take profit order is executed.	When the Mark Price reaches the trigger price, the Take Profit order will be executed.	Trigger Price + Price Impact / Slippage
Stop Market Order	Traders enter their Stop Market trigger price and the size. As soon as the trigger price reaches the last trade price, the take profit order is executed.	When the Mark Price reaches the trigger price, the Stop Market Order will be executed.	Trigger Price + Price Impact / Slippage

Visit the next page to find out more about how the Order functions works.