⚡Auto-Match

Auto-Match, in a nutshell, searches for existing orders that meet or exceed initial order criteria, then auto-fills the matches prior to creating the initial order.

When executing the order, your order will be created with any remaining tokens after the Auto-Matching took place.

Example

Two orders already exist on OTSea. These orders are open and unfilled. The orders are:

Order A: Selling 1000 $OTSEA for .01 ETH

Order B: Selling 2000 $OTSEA for .03 ETH

Blockto A then wants to buy 100 $OTSEA tokens for .1 ETH, so they head to the order creation page to input the order. During the process, the system locates the two orders that are already open and are at a better price than their order. Assuming Blockto A confirms the Auto-Match of both orders, the order creation process will look like the following:

Order initiated, offering .1 ETH for 100 $OTSEA [0.001 ETH per token]

Auto-Match #1: Buy 1000 $OTSEA for .01 ETH from Order A [0.00001 ETH per token]

Auto-Match #2: Buy 2000 $OTSEA for .03 ETH from Order B [0.000015 ETH per token]

Create Order With Remainder: Sell .06 ETH for 60 $OTSEA

The result here is that Blockto A received many more tokens than they were initially seeking, since the system identified orders at a better price that they were not aware of.

Auto-Match operates as a hybrid order book, that fits into the existing order system of OTSea. Users can always choose whether to create orders with or without Auto-Matched orders, though the frontend will always present the user with Auto-Match orders that are at an equal or better price than they requested.

Auto-Match is available on all chains.