GM Dexalotls!☀️
Let's talk Time in Force (TIF) modifiers on the Dexalot #Subnet and break down the following order type modifiers- GTC, IOC, FOK, and PO.🧵⤵️
Let's talk Time in Force (TIF) modifiers on the Dexalot #Subnet and break down the following order type modifiers- GTC, IOC, FOK, and PO.🧵⤵️
GTC: Good-’Till-Cancel is a modifier that an investor may use to ensure their orders to buy or sell an asset remain active until the order is filled, or the investor cancels it.
FOK: Fill-Or-Kill is a modifier that an investor may use to ensure their order is directed to be fully executed immediately at the market price, a specified price, or canceled if not filled fully.
IOC: Immediate-Or-Cancel is a modifier that an investor may use to ensure their order to buy or sell an asset executes all or part immediately, and then cancels any unfilled portion of the order.
PO: Post-Only is an order modifier that will only allow your order to be posted when it can enter and remain in the order book without getting filled immediately. PO orders will be rejected if they’re taker orders.
Maker Orders: an order that is not executed immediately when it arrives on the exchange and remains on the order book to be executed in a future user interaction. It provides liquidity to the order book and has less fees compared to a taker order.
Taker Orders: an order that gets executed immediately by matching with a posted order in the order book. Taker orders take liquidity (i.e. match against maker orders) and have higher fees than maker orders.
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