## Precision Trading Arrives: Sovryn Launches Limit Orders
Community Call #28 announced the launch of a feature highly requested by the community: **limit orders**. This new functionality is available for both spot swapping and margin trading, providing traders with a much greater degree of control and precision over their execution.
### What are Limit Orders?
Standard swaps on an AMM are ‘market orders’—they execute immediately at the current market price, which can result in ‘slippage’ (the price changing slightly during the transaction). A **limit order**, by contrast, allows a trader to set a specific price at which they are willing to buy or sell an asset. The order will only execute if the market price reaches that specified level or better.
### How They Work on Sovryn
Sovryn’s limit order system is built on a decentralized network of relayers.
1. **Order Creation:** A user signs a message off-chain creating the limit order, specifying the asset, amount, and desired price. This action does not cost any gas.
2. **Order Relay:** The signed order is sent to a network of relayers. These off-chain bots monitor the blockchain for price updates.
3. **Order Execution:** When the on-chain price (provided by an oracle) crosses the price set in the user’s limit order, a relayer submits the signed transaction to the blockchain for execution. The relayer pays the gas fee and is compensated with a small portion of the trade.
### The Benefits for Traders
* **Price Control:** Users can ensure they get the price they want, eliminating the risk of unfavorable slippage on large trades.
* **Automation:** Traders no longer need to constantly watch the market to execute their strategy. They can ‘set it and forget it.’
* **Gasless Creation:** Since orders are created off-chain, users don’t pay gas unless their trade actually executes.
The introduction of limit orders is a major step in evolving Sovryn from a simple AMM into a sophisticated trading platform, catering to the needs of both casual swappers and advanced traders.