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Order Types

Orders on Intotes are defined by two dimensions: type (buy or sell) and kind (market or limit). Combined with the chosen token type (YES or NO), this produces four primary trading actions.

The Four Combinations​

Market Buy​

FieldValue
typebuy
kindmarket
amountBudget in cents

Spend a fixed budget to buy tokens immediately at the best available price. The order executes against existing sell orders in the orderbook, starting from the lowest ask. You receive as many shares as your budget can purchase at current prices.

Use when: You want tokens now and are willing to accept the current market price.

Market Sell​

FieldValue
typesell
kindmarket
amountShares in cents

Sell a specific number of shares immediately at the best available price. The order executes against existing buy orders, starting from the highest bid. You receive the proceeds from the sale.

Use when: You want to exit a position immediately regardless of price.

Limit Buy​

FieldValue
typebuy
kindlimit
priceMaximum price (0--10000)
amountBudget in cents

Place an order to buy tokens at or below your specified price. If matching sell orders exist at or below your price, the order fills immediately (fully or partially). Any unfilled portion remains in the orderbook as a standing bid until it is matched or you cancel it.

Use when: You want to buy at a specific price and are willing to wait for it.

Limit Sell​

FieldValue
typesell
kindlimit
priceMinimum price (0--10000)
amountShares in cents

Place an order to sell tokens at or above your specified price. If matching buy orders exist at or above your price, the order fills immediately (fully or partially). Any unfilled portion remains in the orderbook as a standing ask.

Use when: You want to sell at a specific price and are willing to wait.

Order Statuses​

Every order progresses through a lifecycle tracked by its status field:

pending​

The order has been placed but has not yet been matched (fully or partially). This is the initial state for limit orders that do not find an immediate counterparty. The order sits in the orderbook waiting for a match.

  • Can be cancelled by the user.
  • Transitions to partial on a partial fill, or filled on a complete fill.

partial​

The order has been partially filled -- some but not all of the requested amount has been matched. The remaining portion continues to sit in the orderbook.

  • Can be cancelled by the user (unfilled portion is returned).
  • Transitions to filled when the remaining amount is matched.

filled​

The order has been completely filled. All requested shares have been bought or sold. This is a terminal state.

  • Cannot be cancelled.

cancelled​

The order was cancelled by the user before being fully filled. Any unfilled portion of the budget (for buys) or shares (for sells) is returned to the user's balance. This is a terminal state.

  • Only reachable from pending or partial states.

Status Transitions​

pending ──────► partial ──────► filled
  │                │
  │                │
  ▼                ▼
cancelled      cancelled

Price Mechanics​

  • Prices are integers from 0 to 10000, representing 0% to 100% probability.
  • A YES token at price 7000 means the market implies a 70% chance the event resolves YES.
  • YES price + NO price always sums to approximately 10000 (100%), minus the spread.
  • When you buy YES at 7000 and the event resolves YES, each share pays out 10000. Your profit is 10000 - 7000 = 3000 per share (before fees).

See Also​