Order Confirmation and Execution

Order Confirmation and Execution

This page explains what happens after you place an order on Zeitgeist, covering the confirmation process and how orders are executed on the Solana blockchain.

Confirmation Process:

1. Order Review: After you enter your order details (type, number of shares, limit price if applicable) and click the "Buy" or "Confirm" button, Zeitgeist will display a summary of your order. Carefully review all the details before proceeding. This is your last chance to catch any errors.

   • Order Type (Market or Limit)

   • Narrative

   • Side (Buy YES or Buy NO)

   • Number of Shares

   • Limit Price (if applicable)

   • Estimated Cost/Proceeds (for market orders)

   • Estimated Fees

2. Wallet Interaction: Once you confirm the order on the Zeitgeist interface, your Solana wallet extension (e.g., Phantom, Solflare) will pop up, prompting you to approve the transaction.

3. Transaction Details: The wallet pop-up will show you:

   • The Zeitgeist application that is requesting the transaction.

   • The estimated gas fee (in SOL) required for the transaction. Solana fees are typically very low, but they can fluctuate based on network congestion.

   • The specific action being requested (e.g., transferring funds, placing an order).

4. Approve/Reject: Carefully review the transaction details in your wallet. If everything looks correct, click "Approve" (or the equivalent button in your wallet). If you see anything suspicious, or if you change your mind, click "Reject."

(Screenshot: Show a typical wallet approval screen for a Zeitgeist transaction.)

Order Execution (on the Blockchain):

Once you approve the transaction in your wallet, the following happens:

1. Transaction Submission: Your wallet signs the transaction with your private key and submits it to the Solana blockchain.

2. Transaction Validation: Solana validators check the validity of the transaction (e.g., ensuring you have sufficient funds).

3. Transaction Execution (DLMM): If the transaction is valid, it's executed by the Zeitgeist smart contracts, which interact with Meteora's DLMM:

   • Market Order: The DLMM attempts to fill your order at the best available price(s) in the active bin(s).

   • Limit Order: Your order is added to the order book (the DLMM's set of bins) and will be executed if and when the market price reaches your limit price.

4. Transaction Confirmation: Once the transaction is successfully executed and included in a block on the Solana blockchain, it's considered confirmed. This typically happens within a few seconds on Solana.

5. Order Status Update: The Zeitgeist interface will update to reflect the status of your order:

   • Filled (Market Order): Your order has been completely executed. The shares are now in your portfolio.

   • Open (Limit Order): Your order has been placed but has not yet been executed.

   • Partially Filled (Market or Limit Order): Only part of your order has been executed. This can happen if there's insufficient liquidity at your desired price. The remaining portion of your order will remain open.

   • Cancelled: You cancelled the order before it was executed.

   • Failed: The transaction failed (e.g., due to insufficient funds or a network error).

(Screenshot: Show examples of different order status messages on the Zeitgeist interface.)

Transaction IDs and Explorers:

Every transaction on the Solana blockchain has a unique transaction ID. You can usually find this ID in your wallet's transaction history and within the Zeitgeist interface (e.g., on your order details page). You can use this ID to view the transaction details on a Solana block explorer (e.g., Solana Explorer, Solscan). This provides a permanent, publicly verifiable record of your transaction.

By understanding the order confirmation and execution process, you can confidently trade on Zeitgeist and track the status of your orders.