Extend limit for XCP DEX order expirations

[davestaxcp]

It is common in the community to wonder why there is a limit for DEX limit orders (such as the PEPECASH/RAREPEPE pair for example)

Not sure when or why the limit was put on for DEX orders, but in recent contemporary times many users want this limit extended to many more blocks.

Looking at other blockchain dex's and common trading platforms like OpenSea/Magic Eden... ETH UI in Opensea has an option for "6 Months" ... it is my understanding the XCP DEX at the moment is about 2 months total for the longest DEX expiration.

I personally would be fine with unlimited expiration dates for XCP DEX orders (since the community is now very used to non-experiation dispensers)

Would unlimited time be an issue?

Is it more prudent to set a limit? Maybe 1 year or 2 years?

[adamkrellenstein]

This is super easy. I probably set the limit myself, and I have no idea why it's there. I was probably just being conservative. I think if we do extend the limit, we should extend it indefinitely (for fear of having to reset it again).

[davestaxcp]

cool! so youre in favor of limitless dex orders, or at least way larger limits.... (i assume wallet providers can include a slider or preset numbers or something)

can this be implemented without changing any existing dex orders etc? (as not to mess up any active orders)

[adamkrellenstein]

Yeah I'm fine with this. It's a very small change. Yes, can be made backwards-compatible.

[droplister]

+1 to indefinite DEX expirations.

People who want limited-time/fill-or-kill can still pick short expirations, and “infinite” orders can always be canceled. I used to worry “forever” limits future protocol changes, but dispensers already set that precedent, and any major change can still cut over at a block height with a migration path.

Upside: standing liquidity can persist through XCP cycles. If XCP drops, old “high” orders become attractive in USD terms and can drive demand to buy XCP to fill them. If XCP rises, the inverse happens: orders that would be “bad deals” in USD stop getting hit, while orders that are now attractive get taken—so the book naturally self-selects what’s fillable as price moves.

Downside is mostly UX (stale orders / forgot-to-cancel), but that’s solvable in wallets/explorers with filters and sane defaults—and the existence of stale orders is also part of the market structure benefit, not purely a bug.

[ShabanShaame]

Completely agree. Dex expiration is a pain. If you are active in DEX you have to renew all your order very often which can be expensive. It should be the user responsibility to choose the right expiration. However, with unlimited expiration, we might end up with a graveyard of long, useless DEX orders clogging the API data. But I think it's not too much of a risk with the current usage of counterparty. Therefore I'm for unlimited expiration. If one day we have too many open orders we can evaluate the opportunity of purging on the protocol level or implement a better solution

[honma-munehisa]

I vote for indefinite DEX expirations

[davestaxcp]

well it seems like the underlying idea of extending dex orders is approved in unison

but possible future circumstances of clogging the api data if many orders are left over the years

may be best for wallet providers to offer time span options themselves
or if it becomes a problem to take a return to this issue and in the future limiting order lengths on a protocol level to a new limit at a future time

[adamkrellenstein]

I created an issue based off of this discussion and included it in the milestone for the next protocol upgrade: CounterpartyXCP/counterparty-core#3261