FAQ

Is LIQNFT Market built on Serum? What is Serum?

Yes it is! Serum is the most popular on-chain orderbook project in Solana. LIQNFT Markets is a carefully designed web interface on Serum backend, allowing our users to exchange Ownership Tokens (OT) among them. You can visit Serum's project website if you want to know more about them.

After I placed an order, the corresponding asset was transferred out of my wallet. Can I get the asset back if I cancel the order?

If your order is not immediately matched, the asset (OT if you are selling, SOL if you are buying) will be transferred out of your wallet into an escrow account in Serum. If you decide to cancel the order, you will get the asset back immediately.

Why am I charged an extra 0.02335776 SOL the first time I trade on a market?

The charge is the rent for creating your account in Serum for that OT marketplace. This rent is required to be paid once per marketplace only, meaning that you will not see it again in any subsequent orders in the same marketplace.You can get the rent back by closing the account in Serum. The Popular DEX Symmetry provides the function for this. After connecting your wallet, access “transaction settings” and then “View OpenOrders Accounts”. Then you will have a list of your open accounts in Serum, and you can consider closing them to recover the rent.​

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My order has been matched and I saw unsettled OT or SOL. What should I do?

If you have unsettled assets, clicking the “Settle” button will transfer those to your wallet. Your asset will be safe in custody by Serum, you can claim the unsettled asset anytime.

After trading I see some Wrapped SOL accounts in my wallet. How can I convert it back to SOL?

Solana wallets provide the function to unwrap SOL back to normal SOL. Below is a sample screen from a Phantom wallet. Select the “Wrapped SOL” account, then click the “...” on top right, and chooses “Unwrap All”.​

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Is there any transaction fee when I trade OT in LIQNFT Markets?

LIQNFT Markets currently charge no fee on transactions. However, Serum currently charges a 0.22% taker fee when an order is matched. For most updated fee details please refer to Serum's Fee documentation page. From the 0.22% free collected by Serum, 20% of that is returned back to the host of the activity, which in this case is LIQNFT. That means that a small portion of every transaction fee that Serum takes is returned to us. Every transaction that is made on our platform helps LIQNFT grow!

Since LIQNFT is powered by Serum, can we trade OT on other Solana DEX as well?

Yes, you can. Raydium DEX provides an awesome trading interface for advanced users. The OT marketplaces are not registered on Raydium, but can be set up manually. To set it up, click the “+” button above the chart to add a customer market by inputting the Serum Market ID.​

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