MetaMask has introduced limit orders in its mobile wallet on Ethereum, Base, BNB Smart Chain and Robinhood Chain. The feature lets users set a target price for a token swap while their assets remain in their wallets until the order executes.
“Limit orders are now built into MetaMask,” the wallet provider said on Nov. 10. Its support guide says the feature is available in the Swap interface on MetaMask Mobile v8.18.0 and later.
A market swap executes at the current rate, while this feature authorizes a later trade when user-defined conditions are met. It supports take-profit and stop-loss sales, as well as purchases triggered when prices move above or below the market.
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View post on XBoth tokens must be on the same network. The minimum order is $100 on Ethereum and $10 on each of the other three supported chains. At least one token in the pair must support MetaMask's collection of network fees from the swap.
How the Wallet Executes Orders
According to the guide, creating an order gives MetaMask revocable permission to execute a specific swap for a specified amount once its price condition is met. The tokens stay in the user's wallet rather than being locked up. If necessary, the first order automatically upgrades the account to a smart account that can grant this permission; the upgrade may incur a network fee, which is shown at confirmation.
MetaMask says it tracks market prices and executes an order only when a live quote meets both the price condition and the user's price tolerance. Its Swaps service gets quotes from decentralized exchanges and token-swapping protocols; it does not provide liquidity itself.
The default price tolerance is 3%, and users can adjust it when creating an order. The tolerance accounts for slippage, price impact and the network fee deducted from the tokens, meaning final proceeds may differ from the amount implied by the target price. A chart briefly reaching the target does not ensure execution: if no quote falls within the tolerance, the order remains open until it fills or expires.
Fees and Order Expiry
MetaMask's standard swap fee is currently 0.875%. The fee is calculated when the order executes, with any applicable discount included. MetaMask says the fee will not exceed the standard rate.
Network fees are separate and deducted from the tokens being sold, so users do not need the network's native token to pay for the swap's execution. Creating or cancelling an order carries no additional fee, though gas may be required for the initial account upgrade.
Users select an expiry. Examples in the documentation include 10 minutes, one hour, one week and one month. An open order can be cancelled at no cost unless execution is already underway. To change the price, amount or expiry, users must cancel the order and create a replacement.
If there are insufficient source tokens when execution is attempted, the order is automatically cancelled. An expired order does not execute a swap, and the tokens remain in the wallet.
Source: thedefiant.io. Adapted by NBTC.
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