First Trade

1. Trading Workflow

Step 1 – Select Asset & Mode

• User selects a trading pair (e.g., ETH/USDT) in Simple Mode.

• Choose Order Type:

  • Market Order: Execute immediately at the best available price.

  • Limit Order: Execute at a specified price.

Step 2 – Input Amount

• Enter the quantity to buy or sell.

• The interface shows estimated total cost or expected proceeds.

• OrangeBit fetches real-time on-chain balances for accurate calculations.

Step 3 – Confirm Order

• Order Confirmation Popup displays:

  • Order type, amount, price (if limit order), estimated fees, and potential slippage.

  • Maximum slippage slider allows the user to set the acceptable deviation from expected price.

• User signs the transaction directly from their wallet (MetaMask, Rabby, WalletConnect) or Privy account.

Step 4 – Execution

• Off-chain matching engine handles high-speed order matching.

• On-chain settlement via smart contracts or hybrid multi-sig ensures funds are correctly transferred.

• User receives real-time confirmation and updated balances.

Step 5 – Post-Trade

• Transaction is recorded in on-chain logs and mirrored in the OrangeBit interface.

• User retains full custody and can withdraw or transfer assets at any time.

---

2. Fee & Slippage Example

Example: Buy 1 ETH at $2,000	Value (USD)
Order Amount	$2,000
Trading Fee (0.1%)	$2
Estimated Slippage (0.2%)	$4
Total Cost	$2,006

Notes:

• Fees are calculated based on the trading pair and order type.

• Slippage occurs when the market price moves between order placement and execution; users can adjust maximum slippage tolerance in the interface.

• Final settlement is on-chain, ensuring transparency and auditability.