Palmswap is an AMM-based DEX which makes trading somewhat different from the traditional order book exchange model.
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
Palmswap offers four different order types, Limit Orders / Market Orders / Take profit Orders /Stop Market Orders, to meet the trading needs of traders.
Visit the next page to find out more about how the Order functions works.