Due to risk control reasons, YAX limits the price range of orders to prevent market manipulation and reduce the probability of large price fluctuations for individual transactions in illiquid markets.
For spot trading, a single transaction cannot exceed +/-5% of the latest price. If your order would result in a transaction price that exceeds 5% with orders on the order book, the part that exceeds 5% will not be executed and the unfilled part will be canceled. You can see the cancellation reason for cancelled orders in your order history. This means that even if there is enough liquidity from counterparties to execute your market order, your market order may still be partially filled or rejected when the market liquidity is low.
Please note that YAX reserves the right to adjust the price range of orders without prior notice.
In addition to limiting the price range of orders, YAX currently does not allow limit orders that deviate too far from the latest price. For buying orders, your limit order cannot be higher than 5% of the latest price, and for selling orders, your limit order cannot be lower than 5% of the latest price.