↘️Receiving Controls

Overview for "Receiving Controls" in the /limit Command of Decentra Sniper Bot

Overview

The "Receiving Controls" within the /limit command allow users to specify the parameters for the tokens they wish to acquire through their limit orders. This section is crucial for defining the receiving token, the amount, and the destination wallet.

Receiving Controls Features

Buy Token

• Functionality: Users can specify which token they want to receive. The selection can be made in two ways:

  • Preset Buttons: Quick selection options like WETH and USDC are available for ease of use.

  • Contract Address Input: Users can enter the contract address of the desired token. It is important to note that only the contract address is accepted, not the trading pair address.

• Notes:

  • Setting the receiving token does not display the balance in either the spending or receiving wallets.

  • After the token is set, the bot queries its current price, which then updates the USD Value indicator to reflect the worth of the receiving tokens.

Buy Amount

• Functionality: This control lets users define how many tokens they aim to receive, based on the allocated budget or "spending amount".

  • [ Set Token Amount ]: Allows users to specify the exact number of tokens they wish to receive, input in decimals.

  • [ Set Target Price ]: Enables setting a desired price per token. For instance, if a token is worth $1 and the user sets a target price of $0.50, the number of tokens received will be calculated as the budget divided by $0.50.

  • [ Set Market Price ]: Sets the price per token as the current market price, effectively creating a swap-like order. The number of tokens received is calculated as the budget divided by the current market price per token.

Receiving Wallet

• Functionality: Allows users to input any Ethereum wallet address where the tokens will be sent. This can be an address where the user holds the private key or otherwise.

• Future Feature: Integration of a feature to display configured wallets, allowing users to easily select a stored wallet or manually enter a new address.

• Notes:

  • The flexibility of entering any receiving address makes this feature particularly powerful, especially for users who may want to send tokens to external wallets or different accounts they own.

  • This control is significant because the transaction on the contract will only execute when the user's conditions are met, offering more control than standard market swaps.

Conclusion

The "Receiving Controls" in the DCE Sniper Bot's /limit command provide detailed options for managing how users receive tokens in a trade. By allowing users to set precise conditions for the token type, amount, and price, along with specifying the destination wallet, the bot enhances the capability for users to tailor their trading strategies according to specific financial goals and market conditions. This section ensures that users can effectively manage the receiving side of their trades, enhancing the precision and effectiveness of their trading activities on the Ethereum blockchain.