Adding Liquidity on Uniswap

Approximating limit orders can be done on Uniswap by adding liquidity in a certain range. (further details here)

This action may be required as part of your process to acquire a position in an instrument.

The steps here show a basic example of how to approximate limit orders for a newly-created instrument.

Token Pair Addresses

When you click on an Add Liquidity button from the Volorca application, the tokens under "Select Pair" will be automatically populated with the address of the instrument you selected from the Volorca page and the address of the Volorca currency token (USDC).

Fee Tier

0.3% is the recommended default fee tier. You may select any of the other 3 fee tiers depending on your preference.

"Limit" SELL Order

Suppose you want to sell this position token at a "limit" price of 0.6 USDC.

1: Set the Starting Price to just below 0.6. For example, 0.59.

2: Then, under Price Range, set the Min Price to 0.6. Note that Uniswap runs on a set of discrete price ticks, and will round your input number to the closest price.
In this case, the closest price to 0.6 is 0.60051.

3: For the Max Price, you may set it to any number above 1, since we don't expect the max value of position tokens in Volorca to deviate too far above 1 USDC.

4: Set the amount of position tokens you want to place on this order.

Conversion rates for each of the prices are shown in 1a, 2a and 3a. If you will like to flip the rates around, click on 5.

When done, click on Preview, then proceed to confirm the transaction in your web3 wallet.

"Limit" BUY Order

Suppose you want to buy this position token at a "limit" price of 0.6 USDC.

1: Set the Starting Price to just above 0.6. For example, 0.61.

2: Then, under Price Range, set the Max Price to 0.6. Note that Uniswap runs on a set of discrete price ticks, and will round your input number to the closest price.
In this case, the closest price to 0.6 is 0.60051.

3: For the Min Price, 0 is recommended, so that you will not miss out on buying the position token at lower prices.

4: Set the amount of USDC you want to place on this order.

Conversion rates for each of the prices are shown in 1a, 2a and 3a. If you will like to flip the rates around, click on 5.

When done, click on Preview, then proceed to confirm the transaction in your web3 wallet.

Removing Liquidity

Removing liquidity will allow you to retrieve your position tokens and USDC from any portion of your order, whether fully or partially "filled".

To do this, click on the Pools tab on the Uniswap page and click on the pair that you want to remove liquidity from.

Then click on the Remove Liquidity button.

That should take you to a page similar to this:

Move the slider to set the proportion of liquidity you want to remove.

The page should show you a preview of the amount of position tokens and USDC you should receive, along with fees from the pool.

When done, click on Remove, then proceed to confirm the transaction in your web3 wallet.