UTOPIA is the token for the Utopia Decentralized Exchange, Decentralized Launchpad, and the Utopia World game with a built-in NFT Marketplace. But what makes UTOPIA different?
UTOPIA is the project that will make it possible for every single Joe/Jill Schmo to trade with ease in the decentralized cryptocurrency space.
During the past year, there has been a tremendous rise in the popularity of Defi (Decentralized Finance). The Utopia Team believes that Satoshi’s initially intended purpose for blockchain technology was to give the power of money back to the people by creating a truly decentralized currency. Unfortunately, Bitcoin is not quite set up to allow for genuinely decentralized financial freedom. It is difficult to purchase without a rigorous KYC (Know Your Customer) on a centralized platform and is becoming more regulated globally year after year.
UniSwap and PancakeSwap have been mainly responsible for increasing the footprint of Defi projects on the Ethereum and Binance Smart chain blockchains. However, they are challenging to navigate for novice users and leave a lot to be desired compared to their centralized exchange counterparts.
As long as Defi is only accessible to the highly tech-savvy, it will never reach its true potential.
Although UTOPIA is still very young and still a ways away from reaching user-friendly levels that will rival an established platform, such as Coinbase, the team swiftly takes steps in that direction. One of these first steps is decentralized Limit Orders and Stop Losses.
PancakeSwap is currently the most popular exchange on the Binance Smart Chain, but it is missing an essential tool commonly used for trading, the ability to place a “Limit Order.” Without it, people can only buy/sell tokens at the current market price. Catching a token at a specific price is often near impossible, and users are forced to either make their trade at the current price or spend massive amounts of time staring at the exchange, waiting for the price to change.
With the newly available Limit Orders available at www.UDEX.co, users can easily set their desired buy or sell price and go about their day as usual. The smart contract is triggered when the price is reached and the intended buy/sell transaction is executed.
Limit Order Buys are commonly used to buy a token once it drops to a user’s desired price. Do you know of a suitable token to invest in in the long term but think it’ll take one more dip before increasing in price? Set a limit order for the price you believe it’ll drop down to, and our smart contract will purchase for you when the time is right.
Limit Order Sells are used for taking profit; they’ll watch the charts for you, so you don’t miss that pinnacle selling point. Let’s say you’d like to sell some of your tokens for BNB once they reach 3x your buying price? Place a limit order-sell at your desired price, and let our immutable smart contract do the rest.
Stop Loss orders are similar to Limit Order Sell orders with two key differences.
- They are not posted in the order book until they are triggered
- Instead of selling at a specific price, the order will sell at market price after a bottom level price is reached
Unlike Limit Order Sells, which are commonly used for taking profit, stop-loss orders are designed to prevent you from losing money if a token’s price begins free falling. The problem with selling a token at an exact price when the price is going down is that the price could fall too quickly, and the order will never get filled. Stop-loss orders will prevent this eventuality from happening. Instead of selling at a specific price, the stop-loss order will sell at the market price as fast as possible after your bottom-level price is reached.
Limit/Stop Loss Orders are free to UTOPIA holders of 50M tokens or more and are available to everyone else for $0.50 per order
Limit orders and stop losses can be used concurrently for the same token to plan for every eventuality.
The mindset of the Utopia Team is to create tools that are available for everyone to use but will reward UTOPIA token holders as well. As we release more tools, they will always be available for everyone at a modest price, but UTOPIA token holders will get the best deal.
Given time, UTOPIA will become a full multi-blockchain suite including a Defi Exchange, Launchpad, Lending, Crowdfunding, BTC<>BSC Bridge, MMO NFT Game, Defi Poker, and much more. Currently, UTOPIA is a hidden $1M market cap gem, but that won’t last.
Have you missed getting into other large projects early? Don’t miss UTOPIA!
Our V1 Stable DEX launches Nov 28th, 2021
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