This part of the documentation is a tutorial provided by the OpenSwap team aimed to help users make the most our of swapping at zero slippage with OpenSwap Spot Priority Queue.
1. Create Priority Queue
This function allows users to sell tokens quickly and at the market price.
1.1 Please go to the 'Active Queues' tab on the Priority Queue page and click on 'Join'
You will find a table with the below columns:
Pair: The pair and direction you would like to offer
Queue Depth: The current amount tradable in the Priority Queue (Disabled Queue not counted)
Top Stake: The staked amount of the top staked offer in the priority queue
Total Order: Total number of orders (either enabled or disabled)
Adaptor Type: The adapter type to retrieve the current market price
1.2 Insert Parameters for the Queues
There are 4 parameters you have to insert when you create a Priority Queue.
Amount: The amount of token you would like to sell
Stake Amount: The amount of OSWAP token you would like to stake to increase your order's priority
Expiry Date: The expiry date of your queue
Status: THe status of your queue. If it is set to 'Disable'. it will not be traded unless you enable it again
1.3 Review the Order Summary and click 'Submit'
The order summary on the right will give you extra information on your offer
Current Spot Price: The current market price, it may be different from the trade price as the market price is changing
Expected Return: The amount of tokens you will receive if your queue is completely traded
Estimated Position: The estimated position of your queues based on the current stake amount
1.4 Verify the Offer in 'My Queues'
Lastly, remember to verify and review your offer indicated in the 'My Queues' tab
2. Disabling Priority Queues
This function will allow users to disable the queue when the market price is not favorable to them, if the Queues are Disabled, it will not be traded.
2.1 Click 'Disable' on 'My Queues' tab
2.2 Click on 'Proceed' to confirm disabling the order
2.3 Review the order status after the transaction is completed
3. Enabling Priority Queues
This function will allow users to enable the queue when the market price is favorable to them. Please note that Queues will only be traded after it is Enabled.
3.1 Click on 'Enable' on 'My Queues' tab
3.2 Click on 'Proceed' to confirm the enabling of the order
3.3 Review the order status after the transaction is completed
4. Authorizing Priority Queues
This function allows users to authorize other addresses the right to enable or disable their Queue. This can be useful when you would like to enable or disable your Queue at a specific price with bots.
4.1 Click on 'Authorize' on the 'My Queues' tab
4.2 Insert the Authorized Address and click on 'Submit'
5. Add Priority Queues
This function will allow users to add more liquidity to the Queues as well as editing other parameters.
5.1 Click on 'Add' on the 'My Queues' tab
5.2 Edit the parameter of the Queues and submit it after reviewing the summary table on the right
Please note that the token amount and stake amount inserted would be added on top of the original amount.
5.3 Review the updated Queue parameters after the transaction is completed
6. Removing Priority Queues
This function will allow users to remove liquidity from the Queues.
6.1 Click on 'Remove' on 'My Queues' tab
6.2 Edit the parameter on the queues and submit it after reviewing the summary table on the right
Please note that the token amount and stake amount inserted would be subtracted from the original amount.
6.3 Review the updated queue parameters after the transaction is completed
7. Moving Priority Queues
This function allows users to move their tokens from the priority queue to another direction of the same pair.
7.1 Click on 'Move' on the 'Proceeds Wallet' tab
7.2 Set the amount and expiry date
8. Collecting Tokens from Priority Queues
This function allows users to collect their tokens gained from the Priority Queue to their wallets.
8.1 Click on 'Collect' on the 'Proceeds Wallet' tab
8.2 Set the Amount of Tokens you wish to collect then click on 'Submit'
9. Swapping against Priority Queues
This function will allow users to swap tokens against the priority queues.
9.1 Click on 'Swap' on the Queue Record
9.2 Confirm the Swap by clicking on 'Confirm Swap'
10. Set Public Replenish
This function will allow users to set public replenish for bot operation.
10.1 Click 'Auto Replenish' on My Queues
10.2 Set to True
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