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Trading

Providing you with an efficient and seamless trading experience is paramount at Enclave. Answers to your inquiries around orders can be found here. Happy trading!

The market price for each pair is determined by a pricing oracle that references multiple external liquidity venues (generally using the midpoint between the bid and ask in order books) and price aggregators to establish a theoretical market price.
Orders can remain on the order book indefinitely until they are filled. Orders are only removed from the order book if filled or directly canceled by the user.
Yes, users can cancel orders directly before the order is matched.
A partial fill order is when part of your order has received a match, and the rest is waiting to find a match to execute. The rest of your order will be finalized when a match for your trade is found.
The initial assets listed on Enclave are AVAX, ETH, USDC, USD Coin on Avalanche (USDCa), Wrapped Bitcoin (WBTC), and Bridged Bitcoin on Avalanche (BTC.b). Enclave aims to increase the selection of crypto assets in the future.
Your order will be automatically canceled if the market price decreases more than the percentage you have selected. Downside price protection prevents unwanted price volatility when waiting for an order to execute.
Your order will be automatically canceled after your selected duration. The deadline allows you to choose a set time in advance where your order will cancel if it has not been filled.
AssetMin Order SizeMax Order Size
AVAX0.0128,819
USD0.1500,000
BTC0.000125
ETH0.001328
USDT0.1500,000
USDC0.1500,000
LINK0.0171,650
WBTC0.000125
AAVE0.0011,250
USDCa0.1500,000
BTC.b0.000125
WOOL100100,000,000

To prevent trades from executing at extreme prices, we enforce Price Protection rules. Orders that would execute beyond a reasonable price threshold are rejected, with the threshold determined using the mark price for perpetual contracts and the oracle price for spot markets. Currently, the threshold for all markets—both spot and perps—is 10%.

  • Limit orders that cross the mark price are rejected if their limit price exceeds the reasonable price range.
  • Market orders are rejected if any portion of the order would execute beyond the reasonable price range.
  • Note that stop loss and take profit orders are allowed to be set at any price. When they are triggered, they execute as market orders. If executing them would cause large slippage and exceed the reasonable price threshold, they will be rejected.
Example:

For perpetual contracts, if the mark price of a token is $100, the reasonable price range is $90–$110.

  • Limit orders with bids above $110 or asks below $90 are rejected.
  • Market buy orders are rejected if any portion would execute above $110, and market sell orders are rejected if any portion would execute below $90.