Limit orders

A crypto limit order lets a maker sign a target price and wait for execution. In Velora, limit orders are Delta orders.

A limit order lets a maker define the price they want, sign the terms, and wait for execution later. In Velora, limit orders are Delta orders: the user signs an intent with target-price constraints, and Delta settles it only when those constraints can be satisfied.

Use limit orders when the user cares more about a target price than immediate settlement.

What problem limit orders solve

Limit orders separate trade intent from trade timing. Delta represents that intent as a signed order:

• The maker says what they are willing to sell or buy.
• The maker sets constraints such as price, token pair, amount, expiry, and eligible taker behavior.
• When the limit price becomes reachable, the order enters the Delta pricing auction. Solvers from the Portikus network act as takers and compete on fill quotes, so the user gets the best committed return, not just the limit price.
• Delta settles the order on-chain when the winning solver’s fill satisfies it.

This gives users price control without forcing them to watch the market and submit a swap at the exact moment liquidity appears.

Key terms

• Maker: the user or application that creates and signs the order.
• Taker: the party that accepts and fills the order. In Velora, takers are Portikus solvers that win the pricing auction.
• Limit price: the minimum or maximum effective price the maker accepts.
• Delta order: the signed intent Velora uses to represent and settle the limit order.
• Expiry: the time after which the order should no longer fill.
• Nonce: a unique value that helps identify, replace, or cancel an order.
• Fill: the action that settles the order and transfers tokens.
• Cancellation: invalidating an unfilled order before it can settle.

Limit Orders vs Swaps vs OTC

Use a swap when the user wants to trade now against available liquidity.

Use a limit order when price matters more than timing. The user signs the target-price constraint and waits for Delta to settle it.

Use OTC when the trade terms are already agreed off-book with a known counterparty.

Limit orders and OTC can look similar because both use signed terms. The difference is intent: a limit order expresses a price condition; OTC expresses a bilateral agreement.

Build it

• Use the Widget if you want limit orders in a ready-made trading interface.
• Building the HTTP flow directly? Build the order the user will sign with POST /v2/delta/orders/build, then submit it through POST /v2/delta/orders and track its status from there.
• How Delta works covers how signed orders are auctioned, settled, and tracked.
• If the trade is negotiated with a known counterparty, you probably want OTC instead.