Place a sealed order

When you can seal#

You can seal an order while the market's current lull is in its commit phase. That runs from when the lull is published, shortly before the close, until its reveal window opens (30 minutes before the open by default). The lull clock on the market page shows the phase and the countdown.

Steps#

1. Connect your wallet and open the market from "Markets".
2. In the "Order ticket", choose "Buy" or "Sell".
3. Choose the type:
   • "Market on open" has no limit.
   • "Limit on open" needs a "Limit (USD per share)": the most you will pay per share for a buy, or the least you will accept for a sell.
4. Enter the "Amount":
   • for a buy, the most USDC you will spend;
   • for a sell, the most AAPLx shares you will sell.
5. Click "Seal order".
6. Approve the transaction in your wallet.

After it confirms, the ticket shows the order's commitment hash and "Reveal opens in …".

What "Seal order" does#

1. Your browser generates a random 32-byte salt.
2. It computes the commitment: a SHA-256 hash of the order fields, the salt, your wallet address and the lull.
3. It stores the order and the salt in this browser, before anything is sent.
4. Your wallet signs a transaction with the commitment. It creates a ticket account, pays that account's rent and moves the bond into it.

Only the hash, a ticket number, the bond and your wallet address go on chain. The service never receives the salt or the order fields. See Sealed orders.

Costs#

• The bond, 0.01 SOL by default. The order ticket shows the market's current value. It returns at claim if you reveal the order, and is forfeited if you don't.
• The ticket account's rent, which returns at claim or forfeit.
• The network fee.

Before you seal#

• Minimum size. 1 USDC for a buy and 0.001 AAPLx before the Scaled UI multiplier for a sell, by default. The order ticket shows the market's current values.
• Balance at reveal. Sealing locks nothing, but your free balance must cover the amount when you reveal. Deposit before the reveal window if you need to.
• The order is final. A sealed order cannot be edited or cancelled. To change it, seal a new order and don't reveal the old one. The old order forfeits its bond.
• Several orders. You can seal more than one order in a lull. Each posts its own bond and locks its own amount at reveal.

Next#

• Back up sealed orders right away.
• Reveal during the reveal window.