Shido Limit Protocol allows users to place limit orders in swap on Shido DeFi. A limit order is a financial instrument where users can put tokens up for sale at a fixed predetermined price, or place a buy order at a fixed price.
Placing a limit order the user is automatically leaving instructions to fill buy or sell orders at specific prices. The trade will only be executed if the price on Shido DeFi reaches the limit price. Open orders will remain open indefinitely until they get executed or being cancelled by the trader.
If a user places a stop-loss order, the order is executed once it reaches the particular price point that is set. When the price limit is reached, the open position will close to prevent any further losses on that asset.
Shido Limit Protocol is a 'gasfree' protocol for placing limit orders. Meaning you can cancel your order at any time without paying a gas fee. Also, if your limit price is reached but you lack sufficient liquidity to complete the trade, your order will be automatically be cancelled without any gas fee.