🔵Take Profit and Stop Loss

PriveX has implemented a proprietary solution for Stop Loss (SL) and Take Profit (TP) orders, leveraging our role as a front-end coordinator with solvers through our core contracts. This comprehensive system allows us to trigger orders promptly when the price reaches the user's target.

Our solution incorporates:

• Price queries from official Binance price feeds

• Last Price and Mark Price considerations

• A fallback option to ensure a reliable oracle for price data

To enable position closure on behalf of users, our core contract includes a function that allows us to execute transactions after obtaining user permission through a signed transaction. System Trigger Conditions:

• Take Profit: System triggers when Price ≥ TP, sending a close request to the solver.

  • Stop Loss: System triggers when Price ≤ SL, sending a close request to the solver.

  Price Determination

  • Under normal trading conditions (99% of the time), we use the "Last Price" from the source market to align with charting.

  • For protection against price wicks, if the "Last Price" deviates from the market "Mark Price" by >0.25% during volatility, PriveX uses the "Mark Price" to trigger the stop loss.

  Once triggered, the transaction closes at the current Market Price, which may differ from the trigger price.

Execution Speed and Costs

• The time between system trigger and transaction submission is minimal.

• Thanks to our Account Abstraction technology, we can sponsor this operation, resulting in $0 gas cost for the user.

• However, different states in our on-chain process may take 3-5 seconds, potentially leading to unfilled/unexecuted orders due to price changes.

Note: This system is more effective for medium & long-term operations rather than scalping & low timeframe trades.

Important Considerations Warning: As a front-end implemented solution, PriveX can only guarantee that the close request is sent correctly to the solver, not that the order is completed on the solver side. This dependency exists on our core contract and solver side. Further development is required to create a fully robust system, including multi-dimensional redundancies on both the PriveX and solver sides.