How to create SELL or BUY offers on DeFi OTC Marsbase
In previous guides, we showed how to:
- Find suitable crypto deals on Marsbase and close them quickly
- What are Part and Manual (Best bid) modes, as well as Discount / Premium price
From these guides, it is now clear that if you need to buy or sell a large volume of cryptocurrency, then it is best to start by checking available offers on the market and offer your bid on the relevant ones.
Now let’s move on to the next step.
What to do if the required offer was not found on the OTC desk? There is nothing to bid on, which means you need to create your own buy or sell offer.
A new video guide describes in detail how to create deals on OTC Marsbase.
Here is the text version. As you probably remember, Marsbase has 2 offer modes: Manual (Best Bid) and Part. Let’s start with the first one.
MANUAL (BEST BID) buy offer
Everything is simple, just fill in all the fields:
- First, let’s choose a BUY offer.
- In the CHOOSE TOKEN TO BUY field, select the token that we will buy.
- In the WANT TO SELL field, select the asset with which we will pay for the transaction. It is best to use ETH or a stable coin.
- In the TYPE OF OFFER field, select MANUAL (Best Bid).
- In the QUANTITY field, enter the desired number of tokens to purchase.
- Then set the offer deadline. After this timeframe, the offer will automatically close.
- Choose the size of the gas fee on the Ethereum network.
- Confirm the transaction in Metamask and click Launch. Done!
MANUAL (BEST BID) sell offer
In this case, the process is very similar, but there is one difference: when creating an offer, you specify only the currency you want to sell.
Further, it is the bidders’ task to offer you a currency, as well as an exchange rate at a discount or premium price. From the offered bids, you can manually select the one that you like the most.
PART buy offer
Let’s go through the fields that need to be filled in again:
- We create our own Part BUY offer.
- In the CHOOSE TOKEN TO BUY field, select the token that we will buy.
- In the WANT TO SELL field, select the asset with which we will pay for the purchase. It is best to use ETH or stablecoin.
- In the QUANTITY field, enter the desired number of tokens to purchase.
- In the TYPE OF OFFER field, select PART
- Now there are new features: Discount and Premium
- Select Discount if you want to buy an asset cheaper than the market price.
- Select Premium if you want to buy an asset at a price higher than the market price.
- Set the minimum threshold for filling the deal below. Part offers can be closed partially and not at 100%.
- Set the offer deadline. After this timeframe, the offer will automatically close.
- Choose the size of the gas fee on the Ethereum network.
- Confirm the transaction in Metamask and click Launch.
- Done!
PART sell offer
As in the Manual SELL trade, there are fewer fields in this case. When creating an offer, you specify only the currency you want to sell.
Further, it is the bidders’ task to offer you the currency with which they want to close the deal. An important difference between the PART SELL deal is that only you set the exchange rate with a discount or premium price.
Have you created the right offer? Then wait until bids from other users of the Marsbase OTC desk are poured into the deal.
