> For the complete documentation index, see [llms.txt](https://thanasdefitools.gitbook.io/thanasdefitools-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://thanasdefitools.gitbook.io/thanasdefitools-docs/limit-orders/what-are-limit-orders.md).

# What Are Limit Orders?

A **limit order** is an instruction: "sell token A for token B, but only at this price or better." Instead of hitting whatever the market pays right now (a market order), you wait for the market to come to you.

On most centralized exchanges limit orders live in a server-side order book. On a DEX like Enosys V3 or SparkDEX there is no order book, only concentrated-liquidity pools. ThanasDefiTools makes limit orders work anyway with a mechanic built into the concentrated-liquidity model itself. The same mechanic works on Uniswap V3-style pools (Enosys V3, SparkDEX V3.1) and on Algebra pools (SparkDEX V4). The site picks the right contract for the pool you select.

Limit Orders lives at [thanasdefitools.xyz/limit](https://thanasdefitools.xyz/limit). The site's front page is a landing page with a card for each tool; the **Limit Orders** card opens this page.

![The Limit Orders page](https://1296855448-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FQDMcaq7PigEcarg4dT3p%2Fuploads%2Fgit-blob-bbd89547deaed588c7c6c5935e4dd798fb9fd503%2FMain_Landing_Page.png?alt=media)

The page has three rows on a wide screen:

* **Balances** on the left, and on the right the **Limit Order**, **Ladder** and **Swap** tabs with the pair picker.
* The **liquidity chart** on the left, and on the right the order form (the ladder form on the Ladder tab, the swap form on the Swap tab).
* **Execute Queue** on the left (filled orders waiting to be closed), and **My Orders** on the right. Once a wallet is connected, My Orders shows "No orders yet." until you place one.

On a phone the rows stack, with the order form first.

The **Ladder** tab places several orders across a price range in one go: see [Ladder Orders](/thanasdefitools-docs/limit-orders/ladder-orders.md).

## The single-tick trick

In Uniswap V3, liquidity is provided across a tick range. When you create a position, you specify two tick boundaries — `tickLower` and `tickUpper` — and your tokens sit in the pool between them. As the market price moves through that range, the pool converts your deposit from one token to the other.

**Here's the key insight**: if you create a position at a *single tick spacing* — the narrowest possible range — and deposit only one side of the pair, then as soon as the market price crosses that tick, **100% of your liquidity converts to the other token**. From that moment on, the position holds only the output token — it has "filled" like a limit order would.

Example:

1. Market price for WSGB/FXRP is currently `0.008 FXRP per WSGB`.
2. You want to sell 1,000 WSGB only if the price reaches `0.01 FXRP per WSGB`.
3. The limit-order contract mints an Enosys V3 position NFT at the tick that corresponds to `0.01 FXRP per WSGB`, with 1,000 WSGB deposited.
4. Market keeps doing its thing. Your NFT sits idle.
5. At some point the price rises past `0.01`. The pool swaps your 1,000 WSGB → \~10 FXRP during that crossing.
6. Your position is now "filled" — it holds only FXRP.
7. Anyone can close the position and the converted FXRP goes to you.

No keeper infrastructure, no oracle. The pool's own price-movement logic does the fill.

## Why you (might) care

* **No monitoring.** Place the order and leave it. The pool converts it when the price crosses.
* **No slippage at the fill tick.** You are providing liquidity, so the conversion happens at your target price, not at whatever the price is when someone gets round to closing the order.
* **No protocol fee.** You receive the whole converted amount. The LP fees the position earns pay the executor who closes it and the treasuries, not you. More in [Fees, Tips, and Rewards](/thanasdefitools-docs/limit-orders/fees-and-rewards.md).
* **FTSO delegation rewards** on Enosys V3 orders (Flare and Songbird). WFLR or WSGB held inside the position earns FTSO delegation rewards, which are paid to you.

## Why you (might not) care

* **Partial conversion.** If the price moves into your tick and back out before the whole position converts, the position holds some of each token. The order counts as filled only once the share set by `fillThreshold` has converted. The site always uses 100%.
* **Your tokens are tied up until the order fills or you cancel.** The position NFT is held by the limit-order contract for the order's whole life.
* **Closing costs gas.** The site sends each execute with a 14.2M gas limit, and you pay only for the gas used. The executor who closes your order is paid from the order's LP fees and, for a small order, from a tip you add when you place it.

## Three phases, one order

Every order goes through three distinct states:

1. **Open**: the position is in the pool, waiting for the price to cross. You can cancel it.
2. **Filled**: the price has crossed and the position holds the output token. Anyone can queue it.
3. **Queued**: ready to close. Anyone can call `executeBatch` to close it and collect the executor's share.

The split between filled and queued is deliberate — [Queue and Execute](/thanasdefitools-docs/limit-orders/queue-and-execute.md) explains why.