As part of the Serum architecture, if you place a trade and it is filled as a maker order, you will need to ‘settle’ funds. This is a part of the architecture of the serum orderbook.
There are three scenarios in which you become a maker order:
- 1.If you clicked post only before submitted a trade, your order would have entered as a maker order
- 2.If you set a limit order far from the current price (where there are little/no other orders), and in the future, the price moves up to to fill your order
- 3.If you submit a limit order that is larger than the number of available contracts at a certain price on the book, you are filled for part of that order as a taker, and the second part as a maker
Market orders are never maker orders because you are always filled based on what is already on the book. Therefore, you will never have to settle a trade if you place a market order.
In the even that you are a ‘maker’, here is how you settle funds:
You will find the trades that you need to settle at the bottom of your portfolio page.
Then, click ‘settle’, approve the transaction in your wallet, and you are done!