STEP 1: Get Market Price

STEP 1: Get Market Price

To create an order, you need to get a price/fee quote first:

• The SDK will give you easy access to the API, which returns the Market Price and the Fee for any given trade you intent to do.

• The returned Market Price is not strictly needed, you can use your own pricing logic.

  • You can choose a price that is below this Market price (Market Order), or above Market Price (Limit Order).

• The Fee however is very important.

  • It is the required amount in sell token the trader agrees on paying for executing the order onchain.

  • Normally, its value is proportional to the current Gas Price of the network.

  • This fee is never charged if you don't trade.

To get the quote, you simply specify the trade you intent to do:

import { OrderBookApi, SupportedChainId } from '@cowprotocol/cow-sdk'

const orderBookApi = new OrderBookApi({ chainId: SupportedChainId.MAINNET })

const quoteResponse = await orderBookApi.getQuote({
  kind: OrderKind.SELL, // Sell order (could also be BUY)
  sellToken: '0xc778417e063141139fce010982780140aa0cd5ab', // WETH
  buyToken: '0x4dbcdf9b62e891a7cec5a2568c3f4faf9e8abe2b', // USDC
  amount: '1000000000000000000', // 1 WETH
  userAddress: '0x1811be0994930fe9480eaede25165608b093ad7a', // Trader
  validTo: 2524608000,
})

const { sellToken, buyToken, validTo, buyAmount, sellAmount, receiver, feeAmount } = quoteResponse.quote

Now that we know the Market Price and a Fee, let's review in next section how to define and sign the new order.