Velora limit, TWAP and OTC products: different trade instructions

Choose a Velora limit order when the price condition matters more than immediate completion. A market-style swap seeks execution now; a limit order makes execution conditional. It can remain open even when an unrelated chart briefly displays your chosen price.

Velora’s limit-order explanation says orders are available to competing Delta agents. The practical question is whether an agent can execute the actual order size on its available route, including costs, within the order’s conditions. A chart price is neither a taker commitment nor evidence that the entire order was executable.

Three decisions before signing

First, choose the amount deliberately. A small traded print at the target price tells you little about the liquidity available for a much larger order. Second, choose an expiry compatible with your intention: an open order can remain relevant after you stop watching the screen. Third, understand the treatment of the unfilled remainder and how you will recognize a completed, partially filled or canceled order.

Velora’s cancellation guide allows cancellation while an order is not completely filled and describes an onchain cancellation that costs gas. Canceling is therefore a separate operation to budget and confirm. Closing the browser is not that operation.

When this product is the wrong fit

If you must receive an asset immediately for another transaction, an unfilled limit order does not solve the deadline. If you require a precise output amount, a price condition alone is also insufficient: verify amount semantics and fill policy. A limit order controls acceptable execution conditions, not the timing or existence of a counterparty.

Keep the order identifier and check the final status before replacing the order elsewhere. A replacement is a new instruction; it should not unintentionally coexist with an old instruction you still have the funds and permissions to fill.