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Time-Based OTC tutorial
This guide will introduce the reasons why we designed the Time-based otc and guide you through the process of creating a Time-based swap, sharing your orders, and managing your orders.
Why do we need a Time-based otc?
When deciding which token to buy or sell, some of us crypto traders are largely affected by crypto celebrities, opinion leaders, or friends. However, more often than not, we end up on the losing side, and people who we trust suffer no consequences.
What if we let people who we trust create their own forecasts using smart prediction orders (time-based swap) and us become their counterparts in those orders? Wouldn’t this be a more quantitative and reliable way of seeing what people think the market will go? Besides, people who make the forecasts will pay a price if their prediction fails.
Arche V1.2 is created based on the same philosophy. We believe that forecasters, especially if they are institutions or opinion leaders, should take their forecasts seriously and willing to involve users to be their counterparty directly in their prediction orders. Custom prediction orders not only demonstrate the seriousness and truthfulness of the forecasters but also enable forecasters’ followers to interact with them directly.
How to create a Time-based swap?
Step One: Enter the market from https://test.arche.network/trade
Step Two: Click “ Create Order” and fill in the order information.
Step Three: Set “Order delivery time”. You could also add contract notes for your orders and set rewards for the matchmakers. After you are done with the setting, click “ Create Order” and follow the steps1/4 - 4/4 to finalize your creation.
Step Four: Manage your order in “MY CREATE” & Copy the “Share Order” link and share it to social media to promote your order.
Step Five: Wait for the order delivery time to claim the counterparty’s token. You could close the order if you don’t feel like trade the rest of the tokens and get back your tokens from the contract.
Last modified 1mo ago
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