Place and Accept Offers
In Premius Market, if users do not find existing orders that meet their requirements, they have the option to place their own orders. This process is designed to ensure the security and commitment of both parties involved.
Placing Orders
Buy Orders: To place a buy order, buyers are required to deposit an amount equivalent to the order value. For example, if a buyer wishes to purchase 1,000 $XYZ tokens at a price of 0.001 ETH per token, they must create a buy order for “1,000 $XYZ at 0.001E” and deposit 1 ETH (1,000 x 0.001E) as a guarantee.
Sell Orders: Sellers, on the other hand, must pledge collateral equivalent to the order value to place a sell order. For instance, to sell 1,000 $XYZ tokens at 0.001 ETH each, a seller must create a sell order for “1,000 $XYZ at 0.001E” and provide 1 ETH (1,000 x 0.001E) as collateral.
Accepting Orders
Users can accept existing orders on the market. Regardless of whether it is a buy or sell order, the accepting user must also place an amount of deposit or collateral equivalent to the order value.
Order Cancellation
Users have the flexibility to cancel their orders at any time before acceptance by a counterparty. In such cases, Premius Market will charge a platform fee of 0.5% of the order value to cover the transactional and operational costs.
This structured approach to placing and accepting orders within Premius Market not only facilitates a streamlined trading process but also aligns with the platform's commitment to maintaining a secure, transparent, and efficient trading environment, addressing the challenges highlighted in the background section.
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