HNY PRICE CRASHING! 🍯 Implement Basic Trading Features

HNY Trading Features :honey_pot:

Proposal Information

Proposal description: Implement HoneySwap Trading Features such as Limit Orders, Stop-Market Orders and TWAP (Time-Weighted average in/average out)
An accurate and detailed description of what you are proposing
We want to implement 3 trading features to start with:

Limit Order … it will check the price every 5-seconds and when the Price is equal to your set amount, it enters an order for you. For example if you want to buy HNY at $40 it will wait until that Price to enter

Stop Market Order … for trading, it will check the price every 5-seconds and if it hits your stop, then it exits how much you want to do. For example if you are trading ChainLink and its at $13, but you want to take at $12 stop-order, it will sell you back into the Pair you want (e.g. LINK/xDAI) if it gets stopped out

TWAP or DCA … For accumulation over time (in or out).
We give you a box for the “hours” of accumulation (e.g. put in 72)
With 72 hours it will split your orders up into 20 pieces and accumulate for you.
You can also put a price you’re maximum willing to pay: E.G. you want to accumulate HNY using 100 xDAI, but your maximum price is no higher than $225 HNY… and it gets done over 72hrs in a split time interval. This can also be done on the sell side.

Proposal Rationale
This proposal should exist because it starts to add trading features that we can build upon for 2021. We want to make it easier for people to trade with honeyswap especially as 2021 rolls around

Expected duration or delivery date (if applicable):
We should be able to code this in within a few days

Team Information (For Funding Proposals)

Find me (sommi) on Telegram & Discord for any questions and discussion. I’ve been trading for over 10yrs I know exactly how this should be set up:

Skills and previous experience in related or similar work:
I’ve been day trading for over 10 yrs, I’ve seen every single market program and feature and have a lot of cool ideas to be implemented later but we need to start on this now

Funding Information (For Funding Proposals)

Amount of HNY requested: ???

More detailed description of how funds will be handled and used: :honeybee:


Hey man, thanks for sharing your opinion.

Some of the things you are mentioning (limit and stop order) are upgrades that are soon happening in v3 if I’m not mistaken. Same on Uniswap. This can bring more liquidity for sure.

About the DCA proposal, I believe that in a way Honeyswap. is already. the perfect place to do so due to the almost zero fee, so buying is never depending or affected in anyway by transaction costs.

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Would be cool to see these features, though I think the estimate that this could be implemented within a few days is… optimistic. Happy to be surprised though!

@Jasper and @onbjerg started to look at how limit orders could be implemented and I think could share their progress here.

There is a design choice that I think is important to consider here:

  1. Is the intention for this to be an open source bot that people would need to run and share their key? This would require them running some software somewhere, and having there assets controlled by a key that the program has access to, but it would be pretty simple to implement (possibly even within days). It’s possible that this could also be offered as a custodial service to improve UX, but the regulatory and security implications of that are significant.

  2. Is the intention to create a set of smart contracts that enable this type of functionality in a non-custodial but automated way? This is possible, and at least for limit orders there is a reference implementation, but it would be a fair bit more complicated to implement as the logic for encoding the orders needs to be on-chain.

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I think we would be happy to make the features very simple, basic and non-intrusive as possible towards Idea #2

Most people do not want to run software, but they probably want the set of smart contracts for a non-custodial implementation.

Thankyou sir !