DocumentationDocumentationLegends Trade redefines decentralized OTC trading with its cutting-edge platform, offering a secure and intuitive space for exchanging assets across multiple blockchains. In contrast to conventional methods, Legends Trade prioritizes user security, implementing robust measures to mitigate the risks of scams and fraudulent activities.
The platform's centralized approach streamlines the trading process, fostering trust and transparency among participants. Through the utilization of smart contracts, Legends Trade ensures that capital is securely locked until all conditions of the transaction are met, providing users with peace of mind and protection against financial losses.
Beyond its security features, Legends Trade stands out for its user-friendly interface and comprehensive support for a wide range of assets and blockchains. Whether trading cryptocurrencies, digital tokens, or other assets, users can access a seamless and efficient trading experience tailored to their specific needs.
Legends Trade is not just a platform; it's a paradigm shift in the way peer-to-peer asset exchange is conducted in the blockchain ecosystem. By prioritizing security, transparency, and user experience, Legends Trade sets a new standard for decentralized OTC trading, empowering users to trade with confidence and peace of mind.
P2P trading of pre-TGE token allocations has been commonplace, often conducted through informal channels like social groups or private messages. However, these methods lack robust security measures, leaving traders vulnerable to scams and potential fraud.
Legends Trade disrupts this landscape by introducing smart contract technology, enabling mutually agreed upon on-chain transactions between buyers and sellers. This groundbreaking approach not only enhances accessibility to trading but also minimizes the risk of financial loss due to fraudulent activities.
Here's how it works:
There are 2 ways to buy token allocations:
Fill others's Offer-to-sell The easiest way to buy token allocations is to find an offer-to-sell listed by another user. Find an offer with a price that you want to buy and make a deposit. Your deposited funds will be sent to and stored in a smart contract, and will only be transferred to the seller when they SETTLE your order, meaning when the purchased tokens are successfully delivered to you SINGLE FILL: Entire offer must be filled by 1 user. Partial FILL: Entire offer can be filled by many users.
Create an Offer-to-buy If you're seeking a different amount than what's offered, feel free to create your own buy offer. This function allows you to set your own terms regarding price and quantity, giving you more control over the transaction.
Fill other's Offer-to-buy
he easiest way to sell token allocations is to find an offer-to-buy listed by another user. Find an offer with a suitable price and deposit collateral as a guarantee that you will deliver your token allocation to the buyers. Your deposited collateral will be secured in a smart contract, and you can only reclaim it once you SETTLE your order, which means after the tokens are successfully delivered to the buyers. Type of offer PARTIAL FILL: Multiple users can contribute to fulfill the offer. SINGLE FILL: Entire offer must be filled by 1 user Percent has been filled by others. Total tokens and the price offer creator is buying. Total amount offer creator is paying for the tokens.
Create an offer In situations where the listed offer-to-buy doesn't align with your price expectations, or if the offered amount doesn't match what you're seeking, you're encouraged to create your own sell offer. This option allows you to define your own terms for price and quantity, providing greater control over the transaction.
Once the tokens are released by the foundation,the settlement deadline will countdown for 24 hours, in which:
For Sellers: Sellers need to complete settle before the settlement deadline expires. After SETTLED, sellers will receive their collateral funds and buyer's funds.
For Buyers: Buyers will receive the tokens, their funds will be sent to sellers. If the sellers are OVERDUE on settlement, buyers can Claim ORDER - their deposited will be refunded and taken from the seller's collateral funds.
Close an offer When closing an offer you created, whether it's an offer to buy or sell, you will incur a fee. This fee is charged only on your claimable collateral or deposit, means the unfilled amount from buyers or sellers. The smart contract will automatically deduct this fee from that amount when you reclaim your claimable collateral or deposit funds.
Settle an order When settling buy token order, you are required to pay a platform fee. This fee is charged only on your settlement amount. The smart contract automatically deducts this fee when you settle the buy order, enabling you to claim your collateral and the settlement amount.
Buy token When you make an offer to buy or fill orders's offer to sell, there's a 2.5% platform fee on the total tokens purchased. This fee is deducted only after the settlement is completed successfully.
Cancel orderx When canceling a buy token order due to the seller ghosting you, a platform fee is incurred. 2.5% fee is charged from buyer's deposit and 2.5% fee is charged from seller's collateral. The smart contract automatically deducts this fee when you cancel the buy order, allowing you to claim both your initial deposit and the compensation.
What's the Pre-Market?
The Pre-Market is the decentralized platform for trading Pre-TGE tokens/ Airdrop Allocations in P2P manners with security.
How does the Pre - Market work ?
The Pre-Market uses a smart contract to provide a secure and efficient platform for buyers and sellers to trade their pre-TGE tokens or airdrop allocations. All transactions are smoothly settled within the smart contract. Buyers can put in their funds, and sellers can deposit their assets directly into the contract for automated trading convenience.
What if nobody fill my selling/ buying orders ?
If nobody fills your offer after TGE, you can go to the dashboard and close your offer.
Do I need to Provide my Wallet + Private Key to Buyers ?
Please note, you don't need to send your private key to anyone.
What's the Collateral for Sellers?
The seller's collateral ensures they'll provide tokens once they are released. If the sellers don't settle before the deadline, their collateral goes to the buyer as compensation. Check detail here Settlement Rules
When are fees counted?
Fees are only incurred for three specific actions: closing an offer, settling an offer, and canceling an offer. Check details here Platform Fee
What types of assets will be listed in the Pre-Market?
You can trade pre-TGE tokens or your airdrop allocations, secured by smart contracts for both parties.
What will happen at TGE Time?
Please check detail at Settlement Rules
I filled a buy offer, but havent't received my tokens yet. What should i do?
Please note that after you fill the offer, you can't take any action until TGE
Coming Soon