Market Taking

BokkyPooBah edited this page Mar 15, 2017 · 8 revisions

A Market Taker can:

  • Buy Tokens from a listed TokenTrader smart contract by sending ethers to the smart contract address
  • Sell Tokens to a listed TokenTrader smart contract by approving and then executing the smart contract's Taker Sell Asset function


Buy Tokens From A Smart Contract

To buy tokens from a smart contract, simply send ethers to the smart contract address and the tokens will be transferred to your wallet address.

Always send a small amount initially and confirm you have the process right before committing larger amounts. Refer to the FAQ.

Send funds from a wallet that you control. Do not send funds from exchange wallets. Refer to the FAQ.

If you send more ethers to the smart contract than there are tokens to fulfil the trade, a refund of your excess ethers will be sent to your wallet address. Refer to the FAQ.

You are responsible for your own trades. We accept no liability for errors or ommissions.

See also this.



Taker Sell Tokens To A Smart Contract

To sell tokens from a smart contract:

  • Do NOT transfer tokens directly to the TokenTrader contract.
  • Watch the token contract in your wallet
  • Watch the TokenTrader contract in your wallet
  • Execute the token's approve(address _spender, uint256 _value) function, specifying the TokenTrader contract address as the _spender and the amount of tokens as _value
  • Execute the TokenTrader's takerSellAsset(uint256 amountOfTokensToSell) function specifying the amount of tokens you intend to sell
  • The tokens will then be transferred from your wallet address and the smart contract will transfer ethers to your wallet address

Always send a small amount initially and confirm you have the process right before committing larger amounts. Refer to the FAQ.

Send funds from a wallet that you control. Do not send funds from exchange wallets. Refer to the FAQ.

If you try to sell more tokens to the smart contract than there are ethers to fulfil the trade, only the correct number of tokens will be transferred from your wallet address. Refer to the FAQ.

You will have to be aware of the natural units of the token you are selling. Refer to the FAQ.

You are responsible for your own trades. We accept no liability for errors or ommissions.

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